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The 1929 $10 National Bank Note from Swedesboro, New Jersey, Charter #2923, is a fascinating piece of American currency that captures a significant moment in the history of U.S. paper money. Graded VG (Very Good), this note serves as a reminder of the local banking system during the late 1920s and the role these notes played in everyday transactions. The $10 National Bank Note is part of a broader category of currency that reflects the evolution of banking in the United States and the transition toward a more standardized national currency.
The history of National Bank Notes can be traced back to the National Banking Act of 1863, which aimed to establish a stable national currency and a network of national banks. This act allowed banks to issue their own notes, which were backed by U.S. government securities. By the time the 1929 series was introduced, many National Banks had begun to issue notes that were distinct to their institutions, often incorporating unique designs and features. The 1929 series marked a turning point as the U.S. moved toward a more uniform currency system, eventually phasing out the National Bank Note system in favor of Federal Reserve Notes.
The 1929 series was part of an effort to standardize the designs of banknotes while also incorporating enhanced security features. The notes were printed smaller than their predecessors, making them more convenient for everyday use. The Swedesboro National Bank, identified by its charter number, issued this particular note, which not only reflects the bank's identity but also represents the local economy of the time. Such notes were essential in facilitating trade and commerce in smaller communities, highlighting the importance of local banks in the American financial system.
The design of the 1929 $10 National Bank Note prominently features a portrait of Alexander Hamilton, the first Secretary of the Treasury, on the obverse. His likeness is positioned on the left side of the note, surrounded by intricate decorative elements and inscriptions. The text "THE UNITED STATES OF AMERICA" and the denomination "TEN DOLLARS" are clearly displayed, ensuring immediate recognition of the note's value. Hamilton's image symbolizes the foundational principles of American finance and governance, making him a fitting figure for currency that represents economic stability.
On the reverse side, the design features a depiction of a vignette of a seated female allegorical figure, representing “Justice.” This design is set against a backdrop of ornate details, with the denomination "10" prominently displayed. The artwork on the reverse reflects the aesthetic qualities that were typical of U.S. currency at that time, emphasizing both beauty and functionality. The combination of these design elements contributes to the overall appeal of the note, making it a sought-after piece among collectors.
Minted by the Bureau of Engraving and Printing, the 1929 $10 National Bank Note was produced with careful attention to detail. The Bureau was established to produce high-quality currency, and the 1929 series represented a transition in the way U.S. currency was designed and produced. The use of high-quality paper, specialized inks, and advanced printing techniques ensured the note's durability and security, while also enhancing its visual appeal.
In terms of mintage, the 1929 $10 National Bank Notes were issued in limited quantities, as they were produced by individual banks across the country. The Swedesboro National Bank's Charter #2923 denotes its unique status among the many banks that issued notes during this period. While exact mintage figures for this specific note may not be readily available, it is estimated that only a limited number of these notes remain in circulation today, particularly in higher-grade conditions like VG. This scarcity adds to the note's allure among collectors, as high-quality examples are increasingly difficult to find.
The significance of the 1929 $10 National Bank Note from Swedesboro extends beyond its face value; it serves as a historical artifact that connects collectors and enthusiasts to a critical period in American history characterized by economic transformation. The note reflects the transition from a diverse banking system to a more standardized currency system, highlighting the challenges and adaptations that the nation faced during this time. Collectors value this note not only for its design and historical context but also for the story it represents about the American banking system.
Furthermore, the 1929 $10 National Bank Note has gained recognition among collectors for its unique design features and historical significance. The imagery of Alexander Hamilton and the allegorical figure of Justice resonates with many, symbolizing the ideals of fairness, stability, and the rule of law that underpin American governance. The combination of artistic merit, historical importance, and limited availability of high-grade examples contributes to the desirability of this note among numismatists.
Graded VG, this note shows some signs of wear consistent with its age and circulation but retains enough detail to be appreciated by collectors. This condition is particularly appealing for those who seek to own a piece of history that has been part of everyday life. The 1929 $10 National Bank Note, with its intricate details and historic significance, stands as a testament to the craftsmanship involved in U.S. currency production.
In conclusion, the 1929 $10 National Bank Note from Swedesboro, New Jersey, Charter #2923, is a remarkable piece of American currency that highlights the historical and economic significance of the late 1920s. With its beautiful design, rich historical context, and connection to the legacy of U.S. paper money, this note serves as a testament to the artistry of American currency production and the enduring appeal of collectible paper money. By acquiring this note, collectors gain not only a valuable piece of history but also a tangible representation of their appreciation for America’s financial heritage. The 1929 $10 National Bank Note continues to be a sought-after item for collectors, encapsulating a vital chapter in the narrative of American finance and resilience.