-
Inventory:
1 In Stock
- Product ID: 54715
Checkout
The 1902 $5 National Bank Note from Baltimore, Pennsylvania, with Charter #1489, is a fascinating artifact from a significant period in American currency history. Issued under the National Banking Act of 1863, which aimed to create a stable national currency and standardize the banking system following the Civil War, this note reflects the growing economic landscape of the United States in the early 20th century. Baltimore, a major port city and industrial center, was pivotal in the nation's economic development, and the establishment of local banks like the Baltimore National Bank played a critical role in supporting local businesses and commerce.
Baltimore's economy during this period was flourishing, driven by industries such as shipbuilding, manufacturing, and trade. The establishment of the Baltimore National Bank in 1865 allowed local residents and businesses to access credit and currency, facilitating economic growth in the area. National Bank Notes, like this $5 example, were issued as a means to ensure a reliable and uniform currency for transactions, enabling the smooth operation of the growing economy. These notes not only served as money but also represented the bank's commitment to supporting the local economy and fostering financial stability.
The design of the 1902 $5 National Bank Note is a striking example of the artistry and craftsmanship of American currency at the time. The obverse features an intricately engraved portrait of a young girl, often interpreted as an allegorical representation of "Liberty." This design is encircled by decorative scrollwork and borders that enhance the aesthetic appeal of the note. The denomination "Five Dollars" is prominently displayed, making its value immediately recognizable. The use of such elaborate design elements was intended to not only beautify the currency but also to deter counterfeiting, a common issue during this period of banknote circulation.
On the reverse side, the note features a more straightforward design, emphasizing the bank's name and the denomination. The ornamental patterns and borders continue, maintaining the note's cohesive design aesthetic. The charter number and the issuing bank's name—Baltimore National Bank—are clearly printed, signifying the note's authenticity and linking it to the specific institution that issued it. Such details are essential for collectors, as they provide insight into the bank's history and the significance of the note within the broader context of American currency.
As a product of its time, the 1902 $5 National Bank Note from Baltimore is relatively rare compared to other notes from larger institutions or higher denominations. The mintage for notes issued by smaller banks was often limited, and many examples did not survive in good condition. This particular note is graded as VF25, or Very Fine 25, indicating that it has retained much of its original detail while showing signs of circulation. Collectors value notes in this condition, as they offer a glimpse into the historical context of their use while preserving their visual appeal and collectability.
The historical significance of the 1902 $5 National Bank Note extends beyond its design and rarity. It provides a connection to the economic practices and societal values of the early 20th century. During this time, national banks were essential to the financial system, providing the necessary currency for commerce and trade. The establishment of the Federal Reserve in 1913 would eventually alter the landscape of American banking, but notes like this one remain a vital link to understanding the evolution of currency and banking in the United States.
Collecting National Bank Notes, especially those from specific chartered banks like the Baltimore National Bank, offers enthusiasts a rich and engaging experience. The 1902 $5 note is not only a valuable collectible but also a piece of history that tells the story of local economies and the transition to a more standardized national currency. The unique attributes of this note, including its historical context, design, and rarity, make it an attractive addition to any collection.
In summary, the 1902 $5 National Bank Note from Baltimore, Pennsylvania, Charter #1489, is a remarkable representation of American financial history. Its intricate design, connection to a significant local institution, and relative rarity underscore its importance as a collectible item. This note serves as a tangible reminder of the evolution of the banking system and the role that national banks played in the economic development of the United States. As collectors seek to preserve and understand these pieces of history, the 1902 $5 note remains a valued artifact in the world of numismatics.