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The 1934A Hawaii $5 Federal Reserve Note in Very Good (VG) condition is a fascinating and historically significant piece of American currency. Issued during World War II, these notes were part of a special emergency series created in response to the attack on Pearl Harbor. The unique features and historical context of the Hawaii $5 Federal Reserve Notes make them highly sought after by collectors and historians alike. Despite showing signs of wear, the VG condition of this note retains much of its historical value and distinctive design elements.
The issuance of Hawaii overprint notes was a direct response to the Japanese attack on Pearl Harbor on December 7, 1941. Following the attack, there was a genuine fear that Hawaii could be invaded, and if it were, large amounts of U.S. currency could fall into enemy hands. To mitigate this risk, the U.S. government decided to recall all regular U.S. currency in Hawaii and replace it with specially marked notes. These notes were easily identifiable and could be declared worthless if they fell into enemy hands. The overprinted notes included denominations of $1, $5, $10, and $20.
The design of the 1934A Hawaii $5 Federal Reserve Note is similar to the standard $5 notes of the era but with significant modifications for identification. The obverse features a portrait of Abraham Lincoln, the 16th President of the United States, who is revered for his leadership during the Civil War and his efforts to end slavery. Lincoln’s portrait is centered on the note, framed by an intricate border and surrounded by detailed scrollwork. Above the portrait is the phrase "Federal Reserve Note," and below it, the denomination "Five Dollars" is prominently displayed. The serial numbers and the Treasury seal on these notes are printed in brown, distinguishing them from regular issues.
What sets the Hawaii $5 Federal Reserve Notes apart are the bold overprints. The word "HAWAII" is stamped in large, block letters on the reverse side of the note, stretching across the middle of the bill. Additionally, smaller "HAWAII" overprints appear on the obverse, flanking the portrait of Lincoln. These overprints were designed to make the notes immediately recognizable and to allow for their quick demonetization if necessary. The reverse side also features an intricate vignette of the Lincoln Memorial, maintaining the classical design elements of U.S. currency while incorporating the emergency overprints.
The 1934A Hawaii $5 Federal Reserve Note was printed by the Bureau of Engraving and Printing (BEP), which is responsible for producing all U.S. paper currency. The BEP employs advanced printing techniques and stringent quality control measures to ensure the accuracy and durability of the notes. The printing process for the Hawaii overprint notes involved multiple stages, including the addition of the special "HAWAII" overprints. These notes were then distributed through the Federal Reserve Bank of San Francisco to financial institutions in Hawaii.
The mintage of the 1934A Hawaii $5 Federal Reserve Note was relatively limited compared to standard issues, making these notes more scarce and desirable among collectors. The exact number of $5 Hawaii overprint notes produced is not precisely known, but their limited issuance and the historical context of their production contribute to their collectibility. Many of these notes were eventually withdrawn from circulation after the war, further reducing their availability in the present day.
The condition of the 1934A Hawaii $5 Federal Reserve Note in VG grade reflects its age and circulation history. In this condition, the note shows moderate wear, including visible creases, folds, and possible minor tears or stains. The paper may have softened from handling, and the colors may have faded slightly. Despite these signs of wear, the note’s main design elements, such as Lincoln's portrait and the "HAWAII" overprints, remain recognizable and clear. Collectors value these notes for their historical significance, even when they are not in pristine condition.
The 1934A Hawaii $5 Federal Reserve Note is a testament to the United States' ability to adapt and respond to extraordinary circumstances. As an artifact, it represents the efforts to protect the nation's currency during a time of war. Collectors and historians alike appreciate this note for its blend of aesthetic beauty and historical relevance, making it a significant piece in the study of American numismatics. The presence of the "HAWAII" overprints, along with the prominent image of Abraham Lincoln, enhances its appeal and underscores its place in the rich tapestry of U.S. currency history.