National Gold Bank Note

From Wikipedia, the free encyclopedia
Jump to: navigation, search
National Gold Bank Note
(United States Of America)
Value $5, $10, $20, $50, $100, and $500
Security features None
Years of printing 1870 – 1875
Obverse
National Gold Bank Note (Obverse) (1872).jpg
Design Various
Design date 1870s
Reverse
National Gold Banknote (Reverse).jpg
Design Ornamental with an array of United States gold coins
Design date 1870s

National Gold Bank Notes were banknotes that were redeemable for gold in the 1870s.1 National gold bank notes came in $5, $10, $20, $50, $100, and $500. There were 1,000-dollar notes but they were not released for circulation.2 Today, all are very rare and in the higher grades and denominations many are unknown to even exist now. Most notes show excessive wear with none known in uncirculated condition for the whole series.

History

The National Gold Bank Notes were authorized under the provisions of the Currency Act of July 12, 1870.3 The series was a result of the California Gold Rush where gold coins were preferered in commerce.4 Ten National Gold banks were charted, nine of them in California and one from The Kiddler National Gold Bank of Boston in Boston, Massachusetts. The Kiddler Bank was the only bank to have $1,000 notes among others prepared however, no notes circulated from the bank.5


Series overview

Series6 Denom­inations Remarks
1870 $5, $10, $20, $50, $100 All were issued by the first national gold bank located in San Francisco.
1872 $5, $10, $20 These notes were issued by two banks: National Gold Bank & Trust Co., and National Gold Bank of D.O. Mills. No $20 notes from the former have been reported.
1873 $5, $10, $20, $100 All were issued by The "First National Gold Bank" in various cities in California.
1874 $5, $10, $20, $50, $100 Issued by: Farmer's National Gold Bank, National Gold bank, and First National Gold Bank.
1875 $10. $20, $100 This was the last year for National Gold Bank Notes.
  • $500 National Gold bank notes were issued by only 3 banks. Four notes have not been redeemed but to date none have been reported.

References

  1. ^ American Currency Exhibit: Metal Standards: National Gold Bank & Treasury Coin Notes The Federal Reserve Bank of San Francisco
  2. ^ Standard Catalog of UNITED STATES PAPER MONEY 30th edition, (By: KP) p 14
  3. ^ http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=26140
  4. ^ "National Gold Bank Notes". www.hokanson-coins.com. Retrieved 2012-06-05. 
  5. ^ About Paper Money - Large-size paper money - Early federal issues Coin World
  6. ^ An Official Whitman Guidebook, United States Currency (Whitman) p113 - 116

External links









Creative Commons License