U.S. National Bank Notes Small/Large Size Paper Money For Sale

National Bank Notes were first authorized by the National Banking Acts of 1863 and 1864. These notes were first issued in the 1863s and lasted until the 1935s. There were a total of 3 issues in the form of large-size paper money by over 12.000 national bank throughout the U.S. and in U.S. Territories during this time.

The National Currency was backed by U.S Bonds which meant that the national banks had to deposit an amount to the U.S Treasury and they have the right to issue their own currency up to 90% of their holdings of U.S Bonds with the bank’s name, town and also the Charter given by the U.S Government.

National Bank Notes were classified into three Charter Periods (1863- 1882, 1882-1902, and 1902-1922). These periods refer to a National Bank's organizational existence. All of the notes were issued as Large-Size Paper Money during this period. The National Bank Acts of 1863 and 1864 limited a National Bank's corporate life, as reflected by its charter, to 20 years. As a result, the initial 20-year life span, or First Charter Period, lasted until 1882. Congress extended these charters for another 20 years, until 1902, establishing the Second Charter Period. The Third Charter Period began with the extension of another 20-year charter slated to expire in 1922. Charter Periods are significant for National Bank Note series designations since a bank's charter renewal required it to start a new series of notes.

First Charter Period

Issue Dates: 1863-1882 was one of the most beautifully designed national bank note in the history. There were two varieties issued “Original Series” and “Series of 1875”. Consisted of $1, $2, $5, $10, $20, $50, $100, $500, $1000 denomination.

Second Charter Period

There were three varieties under the Second Charter Period.

1. This is the first issue of the Second Charter Period. It was initiated by the Act of July 12, 1882. The Act mandated that the re-chartered banks issue new series of notes that are significantly different from notes from the First Charter Period. This series also known as “Brown Back”.
2. The second issue: After the passage of the Aldrich Vreeland Act of 1908. A new emergency currency was issued. This series carried the Large “1882-1908” at the center on the back. This issue also known as “Date Back”.
3. The third issue: This is the last issue only eligible for national banks that issued the previous series as “Date Back”. The denomination of the note was written down in the back which made this series known as the “Value Back”.

Third Charter Period

When the second charter period came to end. An act passed on April 12, 1902, authorized these first notes of the Third Charter Period. Again, bank charters were extended and new notes reflecting this fact were issued between 1902-1922. The Third Charter Period Notes had the same design on the obverse and reverse. The varieties of the color of the treasury seal, the bank’s charter, and also minor addition on the back which made the notes from this period were classified into three types.

1. The first issue carried the Red Treasury Seal issued from 1902 to 1908.
2. Blue Seal date on the back.
3. Blue Seal without date on the back.

Small Size National Bank Note

Small-size National Bank Note comes in two main varieties, known as “Type 1” and “Type 2” notes. The “Type 1” was issued in 1929-1933s and The “Type 2” was 1933-1935s. Both the two series consisted of 5 denominations which were $5, $10, $20, $50 and $100. 

After the paper money resizing and redesign recommendation were approved. All of the small size U.S Paper Money almost had a resemble design by carrying the same centered portrait and reverse. The brown ink was applied to serial numbers also the treasury seal on both of the two Types. The addition of the bank's charter number in brown ink in line with the serial number on "type 2" notes is the primary distinction between these two types of notes.