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The 1902 $10 National Banknote from Lewiston, Maine, Charter #2260, is a remarkable piece of American history and numismatic interest. Issued by the Lewiston National Bank, this note is part of the 1902 series of National Banknotes, which were produced following the National Banking Act of 1863. This act created a system of nationally chartered banks, each of which had the authority to issue its own paper currency, backed by U.S. government bonds. The notes from this period were integral to the functioning of the U.S. monetary system, particularly in the late 19th and early 20th centuries, when the country was experiencing significant industrial growth and economic expansion. The Lewiston $10 note is a prime example of the currency issued by these banks, combining historical significance, intricate design, and relative rarity, making it a highly sought-after item among collectors of U.S. paper money.
The design of the 1902 $10 National Banknote from Lewiston is both elegant and practical, showcasing the artistry and security features of early 20th-century American currency. The front (obverse) of the note prominently features a vignette of a female allegorical figure, often interpreted as representing either Justice or Liberty, with flowing robes and a raised sword. This figure stands as a symbol of the integrity and security the National Banking Act was intended to bring to the U.S. financial system. The note’s design also includes ornate borders and decorative flourishes that were intended to make counterfeiting more difficult, a common concern at the time. The serial number, along with the name of the issuing bank—Lewiston National Bank—is prominently displayed, along with the bank’s charter number, #2260. The reverse side of the note features the words “National Currency” and “United States of America,” and the denomination “Ten Dollars” is clearly displayed. The design of the reverse is more minimalist, with intricate patterns and flourishes surrounding the words and numbers, reflecting the importance of security and aesthetic appeal.
The Lewiston National Bank, which issued this $10 note, was one of many national banks that were chartered under the National Banking Act. This system allowed for the issuance of currency by individual banks, which were required to back their notes with U.S. government bonds, ensuring the value of the currency. The Lewiston National Bank was authorized to issue currency under Charter #2260, which is printed directly on the note, making it easy for collectors to trace the specific bank and its role in the larger financial system. National banks, including the Lewiston National Bank, issued a variety of banknotes, including $5, $10, $20, $50, $100, $500, and $1,000 denominations. The notes were used as legal tender throughout the U.S., and each banknote represented a small yet significant part of the national economy. Today, these notes are highly prized by collectors due to their rarity, historical importance, and beautiful design.
The mintage of the 1902 $10 National Banknote from Lewiston, Maine, is difficult to determine with precision, as the total number of notes printed by each bank is not always available. However, due to the limited nature of these notes and the fact that many were redeemed or destroyed by the U.S. Treasury over time, the surviving examples are relatively rare. National Banknotes were issued in limited quantities based on the amount of bonds held by the individual banks, and many notes were retired from circulation as the national banking system evolved. For collectors, the scarcity of surviving notes makes the 1902 Lewiston $10 National Banknote particularly valuable. The rarity of such notes has only increased over time, as fewer examples of these notes have been preserved in good condition. The low mintage and the passage of time have contributed to the desirability of the Lewiston $10 note, and it remains a sought-after piece for collectors of U.S. currency and numismatic history.
The condition of the 1902 $10 National Banknote from Lewiston is a crucial factor in its value. The note under discussion is graded as VG (Very Good), which indicates that it shows some signs of wear and aging but still retains much of its original detail. Notes in VG condition typically exhibit creases, folds, and some discoloration, especially around the edges, but the overall design and inscriptions remain legible. The ink and features of the portrait and text are still visible, but may be slightly worn, and the note may have a slightly soft texture due to years of handling. The VG grade represents a middle ground between lower and higher grades, and while it’s not as pristine as notes in Fine or Extremely Fine condition, it still carries significant value due to its age, rarity, and historical importance. For a collector or investor, a VG note such as this one provides a relatively affordable entry into the world of National Banknotes without sacrificing the historical significance or aesthetic appeal of the piece.
The 1902 $10 National Banknote from Lewiston is part of a broader category of U.S. paper currency known as National Banknotes. These notes were issued between 1863 and 1935 and are a testament to the history of American banking and currency. While the 1902 series, which this $10 note is a part of, is not as widely known as other series such as the 1899 or 1929 issues, it is still highly prized by collectors for its distinctive design and the role it played in the U.S. banking system. National Banknotes from the 1902 series are characterized by their high level of artistry, with detailed portraits, allegorical images, and intricate borders that made them stand out from earlier, simpler designs. The notes also include anti-counterfeiting measures, such as the use of special inks and engravings, making them a significant development in the evolution of U.S. paper money.
The 1902 $10 National Banknote from Lewiston, Maine, is an important piece of U.S. currency history. The note offers a glimpse into the development of the U.S. banking system during a time of rapid industrialization and economic growth. The Lewiston National Bank, along with other institutions, played a crucial role in the economic development of the nation by facilitating the circulation of currency and supporting the country’s financial stability. Today, the 1902 Lewiston $10 note represents not only the practical side of early 20th-century American finance but also the artistry and innovation that went into creating U.S. currency during that time.
In conclusion, the 1902 $10 National Banknote from Lewiston, Maine, Charter #2260, is an important and collectible piece of U.S. paper money. Its design, historical context, and limited mintage contribute to its desirability and value in the numismatic market. Though graded as VG, the note still retains much of its original beauty and offers collectors and investors alike an opportunity to own a rare piece of American history. As the demand for National Banknotes continues to grow, the 1902 Lewiston $10 note will remain a highly sought-after item for anyone interested in the history of U.S. currency and the development of the nation’s banking system.