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Inventory:
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- Product ID: 46426
The 1929 $5 National Bank Note from Reading, PA, Charter #696, graded Fine (F), is an intriguing piece of American banking history. Issued during a period of significant economic upheaval, this note provides a glimpse into the financial practices of the early 20th century. Its historical context, detailed design, minting specifics, and condition make it a fascinating and valuable addition to any numismatic collection.
National Bank Notes were first issued in 1863, following the National Banking Act, which aimed to create a stable national currency and establish a uniform system of banking. These notes were backed by U.S. government bonds and issued by nationally chartered banks. Each note bore the name of the issuing bank, creating a direct link between local banks and the federal government. The series of 1929 marks the final chapter in the issuance of National Bank Notes, as they were gradually phased out in favor of Federal Reserve Notes.
The 1929 $5 National Bank Note from Reading, PA, features a portrait of Abraham Lincoln, the 16th President of the United States, on its obverse. Lincoln is celebrated for his leadership during the Civil War and his efforts to abolish slavery, making his image a powerful symbol of American ideals. Above Lincoln's portrait is the inscription "National Currency," and below it, the denomination "Five Dollars" is prominently displayed. The note also includes the name of the issuing bank, "The First National Bank of Reading," along with its charter number, 696, and the signatures of the bank's president and cashier.
The reverse of the note showcases an image of the Lincoln Memorial, one of the most iconic structures in Washington, D.C. Dedicated to Abraham Lincoln, the memorial stands as a testament to his enduring legacy and the values he championed. The reverse also includes the inscriptions "United States of America" and "Five Dollars," along with the phrase "In God We Trust." The design of the note is both elegant and reflective of the period's artistic standards in currency production, blending aesthetic appeal with historical significance.
The 1929 $5 National Bank Note from Reading, PA, was printed at the Bureau of Engraving and Printing (BEP), the federal agency responsible for the design and production of U.S. paper currency. The BEP, established in Washington, D.C., has a long history of producing high-quality currency that meets the rigorous standards set by the U.S. Treasury. The meticulous craftsmanship and attention to detail in the production of these notes are evident in their intricate designs and durable materials. The printing of these notes during the onset of the Great Depression adds a layer of historical context, reflecting the economic challenges of the time.
The mintage of National Bank Notes varied by bank and series, with each bank issuing notes specific to its charter. The First National Bank of Reading, chartered in 1865, played a significant role in the local economy of Reading, Pennsylvania. The bank issued a limited number of notes, making surviving examples relatively rare. The scarcity of well-preserved notes from smaller banks like the First National Bank of Reading adds to their desirability among collectors. This particular note, with its unique connection to a specific community and historical period, offers a tangible link to local and national economic history.
The condition of this 1929 $5 National Bank Note is graded as Fine (F). In this grade, the note exhibits significant signs of circulation, including noticeable wear, creases, and folds. Despite these imperfections, the note retains its structural integrity, with all major design elements and inscriptions still visible. The Fine grade indicates that the note has been well-used but remains an important and collectible piece of currency history. The presence of the issuing bank's name and charter number, along with the signatures of the bank's officers, adds to its historical and numismatic value.
The appeal of the 1929 $5 National Bank Note from Reading, PA, Charter #696, lies in its combination of historical significance, unique design features, and relative rarity. As a piece of currency from the early 20th century, it offers insights into the economic landscape of the time and the role of local banks in the national financial system. Its well-preserved condition further enhances its desirability, as such notes are difficult to find and highly valued for their historical context and visual appeal.
Owning a 1929 $5 National Bank Note from Reading, PA, Charter #696, graded Fine, is not only an investment in American history but also an appreciation of the artistry and craftsmanship that went into its production. This note represents a period of significant economic growth and change in the United States, reflecting the government's efforts to ensure a stable and flexible monetary system through the National Banking System. Whether for its historical value, aesthetic appeal, or rarity, this note is a cherished addition to any collection of U.S. paper currency.
Collecting the 1929 $5 National Bank Note from Reading, PA, Charter #696, offers an opportunity to own a piece of American monetary history and to appreciate the intricacies of currency design and production. Its preservation in Fine condition ensures that it remains a visually and historically significant artifact for generations to come, making it a prized possession for any numismatist or history enthusiast.