Alaska’s national banknote history reflects a rare and rugged chapter in American finance. As a U.S. territory until 1959, Alaska’s banks operated in remote conditions, serving mining camps, trading posts, and frontier communities. From the gold fields of Fairbanks to the harbors of Juneau and Ketchikan, Alaska’s national banknotes tell a story of isolation, ambition, and territorial pride.

A Sparse and Territorial Network of Issuers

Between 1898 and 1935, only three national banks across Alaska issued currency, located in Fairbanks, Juneau, and Ketchikan. These institutions—First National Bank of Juneau (Charter #5117), First National Bank of Fairbanks (Charter #7718), and First National Bank of Ketchikan (Charter #12578)—served as financial lifelines in a vast and undeveloped region. All Alaska-issued notes are considered territorial, making them especially desirable among collectors. With only about 137 Alaska national banknotes known, they rank as the second scarcest behind Puerto Rico.

Currency as a Chronicle of Alaska Identity

Alaska national banknotes offer a vivid portrait of frontier resilience. A $5 Series 1902 Red Seal from the First National Bank of Fairbanks, signed by D.N. Freeman and Samuel A. Bonnifield, captures the elegance and rarity of early territorial currency. Notes from Juneau and Ketchikan reflect the territory’s evolving industries—from gold and fishing to shipping and timber. Even the most common Series 1929 small-size notes from Alaska can command values in the five-figure range, underscoring their scarcity and historical significance.

Conclusion

Today, Alaska national banknotes are cherished artifacts of territorial finance and frontier heritage. Whether issued in the shadow of Denali or the quiet docks of a coastal town, each note is a tangible link to the people and institutions that shaped the Last Frontier. In the broader narrative of American currency, Alaska’s contribution stands as a testament to rarity, resilience, and enduring legacy.