National Bank Note
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National Bank Notes were United States currency banknotes issued by banks chartered by the United States Government. The notes were backed by United States bonds the bank deposited with the United States Treasury.
These notes were similar in overall appearance to most of the Federal Reserve Notes that circulated from 1929 through the 1990s, with one important exception: the "title" (name) of the issuing "national bank", as well as the name of the town and state where the bank was located were printed on the notes. These notes also bore the signatures of that bank's president and cashier.
National bank notes were retired as a currency type by the U.S. government in the 1930's during the great depression.
Sometimes these notes are called "hometown" notes, with their popularity deriving from the wide range of towns and cities that issued them. In the paper money hobby, especially in the U.S., these notes are avidly studied and collected. Some examples of rare banks, towns, states and combinations thereof are quite valuable.
[edit] References
- Six Kinds of United States Paper Currency
- National Bank Notes, 1864-1935: Production, Issuance, Redemption, and Circulation
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