Paterson, New Jersey $10 National Bank Note, Charter 329, Series of 1929

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Payment Shipping Return Policy About Us Terms Categories U.S Coins Other U.S. Currency National Bank Notes MPCs Silver Gold Foreign Coins Foreign Currency Military Items Space Memorabilia Sterling Silver Watches Jewelry Comic Books Sports Memorabilia Publications About UsWe specialize in offering mostly U.S. coins and currency to customers on eBay. We feature many different years of U.S. Uncirculated Mint Sets and Proof Sets as well as a variety of National Bank Notes and silver coins ranging from pure Silver Eagles to 40% silver coinage and even Canadian silver coins. Our items are as described and all pictures are taken of the items by us personally. However, in the case of some items where we have multiple items in inventory, the item you receive may not be the exact same one as pictured. Terms We only accept If you are bidding on multiple items and desire to take advantage of our shipping discount option for eligible items, then please wait until all your auctions have finished before paying for any of them. We don't mind waiting a few days for payment in such situations. Also, we ship only to addresses within the United States. PLEASE NO BIDDING BY THOSE IN FOREIGN COUNTRIES. Paterson, New Jersey $10 National Bank Note, Charter 329, Series of 1929 We're offering a rare 1929 $10 National Bank Note issued by the First National Bank of Paterson, New Jersey (Charter Number 329), serial number A005584. It is a small size Type 2 National Bank Note. The pictures above are of the exact bill you will receive. The bill has never been graded as far as we are aware. FREE shipping via First Class Mail is included with this item. (Priority Mail shipping is available for an additional fee.) We also will honor our combined shipping discount of $1 per additional item purchased from us when all items are paid for at the same time. Please contact us directly to make certain it is reflected on your invoice before paying. An abbreviated history of National Bank Notes as written in Wikipedia: During the Civil War, in 1863, the National Banking Act established a system of National Banks which were empowered to issue National Bank Notes subject to federal oversight. The chartering of banks and administrative control over the issuance of National Bank Notes were the responsibility of the Office of the Comptroller of the Currency. In 1865 the Congress enacted a 10% tax on state bank note issuance making it unprofitable for state banks to issue notes, and thus restricting the circulation of privately issued banknotes to the National Banks.From 1863 to 1935, National Bank Notes were issued by banks throughout the country and in U.S. territories. Banks with a federal charter would deposit bonds in the U.S. Treasury. The banks then could print banknotes worth up to 90% of the value of the bonds. The federal government would back the value of the notes – the issuance of which created a demand for the government bonds needed to bank them. The program was a form of monetization of the Federal debt. Bonds eligible as collateral for posting to the Treasury were said to have the "circulation privilege" and the interest they bore provided seigniorage to the National Banks. They were retired as a currency type by the U.S. government in the 1930s during the Great Depression.Sometimes these notes are called "hometown" notes, with their popularity deriving from the wide range of towns and cities that issued them. In the paper money hobby, Some examples of rare bank notes are quite valuable; for example, a note from Walla Walla, in what was then Washington Territory, sold for $161,000 in an auction held in June 2010. Payment We only accept PayPal payments as it offers the best level of protection for the both the buyer and the seller. PayPal also assures the quickest shipping process. Shipping Orders generally are processed within one business day after payment has been received. If you have... read more

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