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The 1902 $5 National Bank Note from Hampton, VA, Charter #6778, graded Fine (F), is a remarkable piece of American banking history. This note is an excellent representation of the National Bank Note era, which played a pivotal role in the United States' financial development. Its historical context, intricate design, minting details, and condition make it a valuable and fascinating addition to any numismatic collection.
National Bank Notes were issued from 1863 to 1935, following the establishment of the National Banking System during the Civil War. This system was designed to create a stable national currency and finance the Union war effort. Banks across the country were granted charters by the federal government to issue these notes, which were backed by U.S. government bonds deposited with the Treasury. Each note bore the name of the issuing bank, creating a direct link between the local financial institutions and the federal government.
The 1902 series represents one of the later issuances of National Bank Notes, reflecting the continued importance of this system in the early 20th century. The obverse of the 1902 $5 National Bank Note features a portrait of Benjamin Harrison, the 23rd President of the United States. Harrison's tenure from 1889 to 1893 is noted for his efforts to modernize the U.S. Navy and his support for the Sherman Antitrust Act. Above Harrison'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 National Bank of Hampton," along with its charter number, 6778, and the signatures of the bank's president and cashier.
The reverse of the note showcases an image of the Pilgrims landing at Plymouth Rock, a powerful symbol of American heritage and the pursuit of freedom. The scene is surrounded by intricate scrollwork and the inscriptions "United States of America" and "Five Dollars." This design element emphasizes the historical and cultural significance of the note, connecting it to the broader narrative of American history. The detailed engraving and balanced composition reflect the high standards of artistry and craftsmanship of the period.
The 1902 $5 National Bank Note from Hampton, VA, 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 mintage of National Bank Notes varied by bank and series, with each bank issuing notes specific to its charter. The National Bank of Hampton, chartered in 1903, played a significant role in the local economy of Hampton, Virginia. The bank issued a limited number of notes, making surviving examples relatively rare. The scarcity of well-preserved notes from smaller banks like the National Bank of Hampton 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 the local and national economic history.
The condition of this 1902 $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 1902 $5 National Bank Note from Hampton, VA, Charter #6778, 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 1902 $5 National Bank Note from Hampton, VA, Charter #6778, 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 1902 $5 National Bank Note from Hampton, VA, Charter #6778, 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.