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The 1929 $10 National Bank Note from Washington, D.C., bearing Charter #4247, stands as a significant piece of American numismatic history. Issued by the National Capital Bank of Washington, D.C., this note is a product of the National Banking Act of 1863, which sought to create a uniform national currency backed by U.S. government bonds. This system played a crucial role in stabilizing the American economy during the late 19th and early 20th centuries, providing a reliable and trusted currency across the nation. The National Capital Bank of Washington, D.C., was integral to the local economy, supporting trade and commerce through the issuance of these notes.
The design of the 1929 $10 National Bank Note is both intricate and symbolic, reflecting the era's emphasis on craftsmanship and national pride. The obverse of the note prominently features a portrait of Alexander Hamilton, the first Secretary of the Treasury and a key architect of the American financial system. Hamilton's portrait is encased within an ornate oval frame, a testament to the detailed engraving techniques of the time. Above the portrait, the words "National Currency" are inscribed, indicating the note's official status as part of the national banking system. Below, the denomination "Ten Dollars" is clearly stated, ensuring the note's value is immediately recognizable.
Surrounding Hamilton's portrait are various elements that authenticate the note and its issuance. The charter number 4247 is prominently displayed, indicating that this note was issued by the National Capital Bank of Washington, D.C. Additionally, the note includes the signatures of the bank's president and cashier, adding an extra layer of authenticity and a personal touch from the issuing institution. The bank's name and location are also clearly printed, reinforcing the note's origin and the local economic activities it supported.
The reverse side of the 1929 $10 National Bank Note features an elaborate vignette of the U.S. Treasury building in Washington, D.C. This image serves as a powerful symbol of the federal government's backing of the currency, which was essential in fostering public trust. The detailed architectural rendering of the Treasury building is surrounded by intricate scrollwork and flourishes, showcasing the artistry involved in the note's design. The reverse also prominently displays the denomination "Ten Dollars" and the words "National Currency," ensuring the note's value and legitimacy are unmistakable.
National Bank Notes like this one were produced by the Bureau of Engraving and Printing, employing advanced intaglio printing techniques that created raised designs with intricate detail. The high-quality paper used for these notes, a blend of cotton and linen, was chosen for its durability and ability to withstand extensive handling. This combination of detailed design and robust materials made these notes not only functional but also visually appealing and secure against counterfeiting.
The mintage of National Bank Notes was a regulated process, with each bank required to deposit U.S. government bonds with the Treasury to back the notes they issued. This system ensured that the currency had solid backing, promoting stability and trust in the national economy. The National Capital Bank of Washington, D.C., like other national banks, issued these notes to support local commerce and economic development, playing a vital role in the financial landscape of the time.
The condition of this particular 1929 $10 National Bank Note is graded as Fine. In this grade, the note shows signs of significant wear from circulation, including multiple folds, creases, and possible minor tears. However, the overall integrity of the note remains intact, with key design elements such as Hamilton's portrait, the bank's name, and the Treasury building vignette still clear and legible. For collectors, a note in Fine condition offers a balance between historical authenticity and affordability, showcasing the journey of the currency through numerous hands over the years.
The 1929 $10 National Bank Note from Washington, D.C., embodies the rich history of American currency. Its design, featuring Alexander Hamilton and the U.S. Treasury building, reflects the values and achievements of the era. The craftsmanship and durability of the note highlight the advanced printing techniques and materials used in its production. Despite its wear, the note's condition adds to its character and historical authenticity, making it a cherished item for collectors and a tangible link to the economic landscape of the early 20th century.
This National Bank Note is a testament to the legacy of the national banking system in the United States. It represents a period of economic growth and stability, and the detailed design elements reflect the skill and artistry of the Bureau of Engraving and Printing. For those who appreciate the history of American currency, the 1929 $10 National Bank Note from Washington, D.C., is a valuable and informative piece, offering a direct connection to the financial practices and policies of the time.