INTRODUCTION

For over 70 years, National Bank notes were the backbone of the U.S. economy. Based on standardized designs for each denomination, the notes were only differentiated with the individual bank’s name, city and state in the central portion of the front. Artists and engravers were invited to participate in the initial designs of the new notes in 1863. Each charter period featured new, distinctive designs. The initial series (1st charter) designs are among the most beautifully rendered paper notes ever used by the United States. Under the National Bank system (1863-1935) any town with a bank was represented on a bank note, providing collectors a rich and often personal connection to the history of our nation

Sometimes called “hometown” notes, National Bank notes were retired as currency during the Great Depression (1929-1939). The U.S. Treasury consolidated the paper currency system into Federal Reserve Notes, United States Notes (Legal Tender), and Silver Certificates. The era of privately-issued banknotes was over.

Did You Know?

• The Civil War drastically changed American politics, society, economics, and money. The Federal monetary system moved from gold and
  silver-based coinage to federally regulated paper money. (Previously, the only commonly-used paper money, known as “obsolete notes,”
  were state-chartered and privately-issued.)