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- Product ID: 19905
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The 1929 $10 National Banknote from Alderson, West Virginia, bearing the Charter #5903 and graded as Very Good (VG), represents a unique and significant piece of American numismatic history. National Banknotes were first issued following the National Banking Act of 1863, which sought to establish a uniform national currency system during the Civil War. This legislation allowed national banks to issue currency backed by U.S. government bonds, ensuring their value and stability. The 1929 series, in particular, reflects a period of transition and consolidation in the American banking system, as these notes were part of the final issuance of National Banknotes before the Great Depression fundamentally changed the U.S. monetary landscape.
The design of the 1929 $10 National Banknote is both intricate and emblematic of the era. The obverse of the note features a portrait of Alexander Hamilton, the first Secretary of the Treasury and one of the founding fathers of the United States. Hamilton’s image is framed in an ornate border, surrounded by intricate scrollwork and the inscriptions "National Currency" and "United States of America." The name of the issuing bank, "The First National Bank of Alderson," along with the charter number 5903, is prominently displayed, giving the note a distinct regional identity. This personalization underscores the important role these banks played in their local communities.
The reverse side of the note showcases a detailed vignette of the U.S. Treasury building, symbolizing the strength and stability of the American financial system. This side also includes intricate designs and flourishes, with the denomination "Ten Dollars" prominently featured. The detailed engraving work on both sides of the note reflects the high level of craftsmanship and artistry that went into the production of these historic pieces of currency. The imagery and inscriptions serve to reinforce the note’s authenticity and connection to the federal government, enhancing its credibility and trustworthiness as a medium of exchange.
The 1929 $10 National Banknote was produced under the strict supervision of the Bureau of Engraving and Printing, the official printer of U.S. currency. The production process involved several stages, including intaglio printing, which creates raised designs that can be felt by touch, providing a layer of security against counterfeiting. The paper used for these notes is a blend of cotton and linen, chosen for its durability and resistance to wear. This careful attention to detail ensured that the notes could endure the demands of circulation while maintaining their visual and structural integrity.
The mintage of the 1929 $10 National Banknote from Alderson, West Virginia, Charter #5903, reflects the economic conditions and the pivotal role of the First National Bank of Alderson in supporting the local community’s financial needs. National banks were authorized to issue currency based on their capital and deposits, which meant that the amount of currency issued was a direct reflection of the bank’s financial health and the vitality of the local economy. These notes were used for everyday transactions, making them a vital part of the local economy. The limited issuance of notes from specific banks adds to their rarity and collectible value today.
The condition of this particular 1929 $10 National Banknote is graded as Very Good (VG). In this grade, the note shows considerable signs of circulation with noticeable wear, but it retains enough detail to be identifiable and legible. The paper may exhibit significant signs of handling such as folds, creases, and some discoloration. Despite these signs of wear, the design elements, including the engravings and printed text, remain sufficiently clear to preserve the note’s historical and artistic value. The VG grade indicates that while the note has seen extensive use, it still retains its fundamental integrity and appeal to collectors.
The 1929 $10 National Banknote from Alderson, West Virginia, encapsulates a rich narrative of American banking and currency. Its design elements, featuring Alexander Hamilton and the U.S. Treasury building, reflect the values and achievements of the era. The limited mintage and regional significance enhance its collectible value, making it a sought-after piece for collectors and historians alike. The note’s historical and artistic merits make it a valuable asset, offering a tangible connection to the past and a deeper understanding of the nation’s financial evolution.
The intricate design, historical context, and regional significance of the 1929 $10 National Banknote from Alderson, West Virginia, make it a fascinating collectible. It represents a period of economic transformation and progress, encapsulated in a beautifully crafted piece of currency. For collectors, owning such a note is an opportunity to preserve and appreciate a tangible piece of American history, reflecting the nation’s journey toward a unified and stable financial system. This note stands as a testament to the enduring legacy of the National Banking System and its impact on the American monetary landscape.