Old $100.00 bank note

Limitool

Limitool

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Jun 9, 2013
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Now this may not be the right forum and if not please move to proper one.

I came into possession of some old coins and bank notes while in Michigan last week. Now some of the notes aren't that old but some are from the early 1900's and some are foreign. But this one I open up has my curiosity really turning. I'd really like to know "What is it".... Is it real... and is it worth anything?

Now I tried to research this note today but I came up short. I never found it at all or anything close on the net. But I am NOT a good researcher. I did contact the bank in N.Y. (still in business today) and asked if I could redeem the note. Quickly (minutes) they said bring it in and let us research it. Now common sense tells me this 100+ yr. old note (if real) is worth more than the face value (I think).... right, maybe?

It's from the "TIOGA NATIONAL BANK OF OWEGO" located in OWEGO, N.Y. It appears to be an interest bearing $100.00 note issued in 1915 (101 years old). I bet that was a HUGE amount of money back then! It gives the payout's starting at 6 month's min. and for every month thereafter up to 24 months max upon the note. The note indicates that if you invest $100.00 and hang onto it for 24 months you can collect $106.12 max. So you make $6.12 over 2 years on a $100.00 investment. Maybe a big deal then but not now.

I attached a few pics and I'm sorry if the quality is poor. I just got a new camera and am trying to learn how to use it. I'm not a computer, camera or techno geek. If anybody needs better pics give me another chance.

Any questions about note PLEASE just ask and any info would be greatly appreciated if anybody knows how to find some.

Thanks, Brad

QUESTION: I have a few other notes that are all folded up and DRY. I hate to unfold them and would like to know how better to preserve them when unfolding them while doing so. They are OLD!
 

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looks like an early savings bond but :dontknow:
 

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Brad,

Other than what has already been posted, I literally cannot find anything out about the $100 Interest Bearing Note/Certificate. Due to it's poor condition, it is likely worth more to cash it in at the Tioga National Bank of Owego. It is possible that after the Note/Certificate matured, it continued to accrue interest. I wonder what the accrued interest would be on a $106.12 valued Note/Certificate would be after almost 100 years?


Frank
 

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huntsman53 said:
I wonder what the accrued interest would be on a $106.12 valued Note/Certificate would be after almost 100 years?
Click to expand...

it looks like an early form of a 2 year CD (certificate of deposit). Note that it says 'no interest after 24 months'. if the funds have remained deposited all this time and never claimed, the bank made out far better than the original depositor
 

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jewelerguy said:
it looks like an early form of a 2 year CD (certificate of deposit). Note that it says 'no interest after 24 months'. if the funds have remained deposited all this time and never claimed, the bank made out far better than the original depositor
Click to expand...

Yea... when I saw the small print "no interest after 24 months" my heart sank a little. I tried to look some more on the net but can't find anything. I'd just like to know if it's real and any value it has outside of the $106.12 it states. Maybe I'll hear something today... :dontknow:
 

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Limitool said:
Yea... when I saw the small print "no interest after 24 months" my heart sank a little. I tried to look some more on the net but can't find anything. I'd just like to know if it's real and any value it has outside of the $106.12 it states. Maybe I'll hear something today... :dontknow:
Click to expand...

Brad,

It is very likely that the Note/Certificate is real. I could be wrong but I believe that there is some significance to them stating that they would like you to bring the Note/Certificate into the Bank in Owego, other than they really, really, really, really, really, really, really, really, really, really, really, really, really, really, really want to pay you the $106.12 that they owe you on the Note/Certificate.:icon_scratch:???


Frank
 

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I don't know a lot about bank notes, but seeing as you can't find another example I'd guess it's fairly rare. I do know that condition is everything and a single crease can take off 3/4 of the value on old notes... Having said that, if it is an extremely rare one I'd think collectors would pay up to be the one to own it. It may be worth looking for a professional paper conservator to see what it would take to get it flattened out. It may cost more than the value, but in my mind might be worth it to save a neat old piece.

You said you had some that were folded and brittle... I found some like that after Katrina and I used a hand steamer to very carefully soften them up and used atrists brushes to gently unfold them and flatten them out, then I put them between two pieces of linen paper and pressed them in a big old dictionary I had. It worked pretty well, but you have to be very careful, use a light touch and take your time.
 

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Mackaydon said:
You may wish to check out this guy's offer:
1882 $20 Tioga National Bank of Owego New York Value Guide
Don......
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Hey Don.... I talked to this guy this morning just before your post. He got my email with pics and said he'd get back.... still waiting.

But.... I did hear from another expert on old currency today. He states.....

"It's just an advertising note. It's a very cool item and probably legitimately rare, but I don't see it being worth more than maybe $20 just as a curiosity item."

Manning Garrett
Director of Currency Auctions | Stack’s Bowers Galleries
864-520-2208

I honestly looked ALL OVER the net for a solid 3-4 hours today and never found it. So I too believe it is legitimately rare. But even in the shape it's in it's rarity would seen to be worth more than $20.00.... :dontknow:

So... that's all I know right now. But for $20.00 bucks I'll preserve it myself, maybe mount in one of my poker frames and sell.
 

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I think your currency auction guy is blowing smoke. I believe this is a bonafide unclaimed deposit certificate possibly for a bond issue from the bank. Here is a reference to such an issue from that bank in 1911:

bond issue note.JPG

If the bank is willing to have a look and give you $106, I'd take that deal...

DCMatt
 

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A key piece of wording on it is "properly endorsed", which it isn't, as there is no signature where the spot is for the cashier to sign. And it would be payable to the depositor, not the bearer. And with no name where the depositors name is supposed to be, it seems to me that it hadn't been used to certify a deposit.
 

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nhbenz said:
A key piece of wording on it is "properly endorsed", which it isn't, as there is no signature where the spot is for the cashier to sign. And it would be payable to the depositor, not the bearer. And with no name where the depositors name is supposed to be, it seems to me that it hadn't been used to certify a deposit.
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Yea I took a magnifying glass over it just now and I see a spot when the depositor would sign it I think. So maybe he's right....? :dontknow: But I was hoping it was worth more as a collectable item than the payout (which isn't real?). But Matt.... I'm with you buddy. But even if it is an advertising note it really must be rare because nobody (nor I) can find one anywhere.

I'm to the point now I'm double dog darings ANYBODY to find one.... I sure the hell can't!!!!
 

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I don't see it as a advertising piece, but as a unused remainder. It should have no redeemable value as it was never issued, unless there are some signatures too faint for me to see. The condition is so poor as to make collectible value negligible unless its very sought after or a real rarity. Unused remainders on bank notes often sell for a fraction of a issued note, and they are normally found in high grades at that. Value would pretty much be what you could get a offer at.
 

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Hey I think your right and came to that conclusion last night myself. Thanks. I got a couple more notes I'll post later today that came with this one. Interesting enough 5 of these notes (foreign) are from 1914 which I believe is first year of WW1. Later, Brad
 

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