-
Inventory:
2 In Stock
- Product ID: 19610
Checkout
The 1929 $10 National Banknote from New York, NY, Charter #2370, is a significant and historical piece of U.S. currency. National Bank Notes were issued by nationally chartered banks as part of a system created by the National Banking Act of 1863, which established a uniform national currency and provided for the issuance of currency backed by U.S. government bonds. This particular note is part of the 1929 series, which marked a major overhaul of U.S. currency, transitioning from larger-sized bills to the smaller notes we use today. The 1929 $10 note from New York is a noteworthy example of early 20th-century American currency, and the New York chartered bank that issued it plays a key role in the historical context of the note’s production.
The 1929 $10 National Banknote was issued by the National City Bank of New York, Charter #2370, and is part of the broader series of National Bank Notes produced by various banks throughout the United States. National City Bank was one of the largest and most influential banks in New York City and the country, and its involvement in issuing this note reflects its prominent role in the American financial system. The bank, which eventually became part of Citigroup, was involved in financing the U.S. government and played a critical role in the economy during the early 20th century. National Bank Notes like this one were used widely across the United States for everyday transactions and played a key part in the functioning of the U.S. monetary system. As the U.S. Treasury moved to reduce the size of currency and introduce more modern designs, the 1929 series, including this $10 note, was issued in a smaller size and with updated security features.
The design of the 1929 $10 National Banknote from New York is typical of the smaller-sized bills introduced by the Treasury in the 1929 series. On the obverse of the note, you will find a portrait of Alexander Hamilton, the first Secretary of the Treasury and a key figure in the early financial history of the United States. Hamilton’s image is prominently displayed in the center of the bill, and he is surrounded by the inscription “THE UNITED STATES OF AMERICA” and “TREASURER OF THE UNITED STATES.” The design also includes the words “TEN DOLLARS” and the Federal Reserve seal, which is present on all National Bank Notes. To the left of Hamilton’s portrait is the U.S. Treasury Seal, and to the right is the engraved signature of the Treasurer of the United States. The reverse of the note features a bold, simple design with a large “10” and a geometric border, emphasizing the denomination of the bill. The note is printed in a blue-green ink that is both visually striking and functional in preventing counterfeiting. The series design, while simpler than earlier notes, was intended to make the currency more secure and efficient for everyday use.
The note was issued under the authority of the National Banking Act, which allowed national banks to issue paper currency backed by U.S. government bonds. These notes were initially printed in large quantities, as they were needed to meet the growing demands of the U.S. economy. However, with the introduction of the Federal Reserve system in 1913, the Federal Reserve Banks took over much of the responsibility for issuing currency, and the National Bank Notes began to phase out. The 1929 series was one of the final series of National Bank Notes to be issued before the Federal Reserve Notes became the dominant form of U.S. paper currency. The 1929 $10 note from New York is a part of this transitional period, marking the end of an era for the National Bank Note system. The New York Federal Reserve Bank was one of the most prominent issuers of these notes, and as a result, the notes from this district are particularly popular among collectors.
The mintage of the 1929 $10 National Banknote from New York, NY, Charter #2370, is not as high as other denominations from the same series, making it a relatively rare piece among collectors. Exact figures for the total mintage of this note are difficult to pin down, as the Federal Reserve Bank of New York issued several varieties of notes during the 1929 series. However, the notes from this charter, especially in higher grades, are considered desirable among numismatists due to their historical significance and relative scarcity. As the demand for National Bank Notes diminished with the transition to Federal Reserve Notes, fewer notes from this series remain in circulation today, making those that survive even more valuable to collectors. The rarity of the 1929 $10 note from New York has contributed to its status as a sought-after piece for anyone interested in U.S. currency or American history.
The condition of the 1929 $10 National Banknote from New York is crucial to determining its value. Coins and paper money are graded based on their physical condition, and this grading system is particularly important in the world of numismatics. For paper currency, the grades range from “Good” to “Uncirculated,” with various intermediate grades such as “Very Fine” and “Fine” used to describe the condition of the note. The 1929 $10 National Banknote from New York is often found in grades ranging from Fine to Very Fine, which indicates that the note shows some wear from circulation but is still intact and legible. In a Fine grade, the note will have some noticeable creases, folds, and possibly a few stains, but the overall design will remain clear. In Very Fine condition, the note will exhibit less wear, with fewer creases and sharper details. A note that is graded in Uncirculated or Gem Uncirculated condition will have no signs of wear, maintaining its original sharpness and vivid color. Higher-grade notes, particularly those with sharp details and minimal wear, can command a premium price in the marketplace.
The 1929 $10 National Banknote from New York, NY, Charter #2370, is a highly collectible piece of U.S. currency that represents both a key moment in the history of American money and the role of New York City in the national economy. As one of the major financial centers of the United States, New York played a central role in the issuance of National Bank Notes, and notes from this city are especially sought after by collectors. The note’s design, featuring a portrait of Alexander Hamilton and the clear markings of the 1929 series, is a distinctive reminder of the United States’ financial evolution during the early 20th century. The 1929 $10 bill is also a testament to the ongoing transition from the National Bank Note system to the Federal Reserve system, a shift that would ultimately change the way U.S. currency was managed.
In conclusion, the 1929 $10 National Banknote from New York, NY, Charter #2370, is an important historical artifact that holds significant value both for its rarity and its place in American currency history. The design and features of the note reflect the political and economic context of the time, while its limited mintage and surviving examples in good to very fine condition make it a highly collectible item. The note is a prized possession for those interested in U.S. currency, as well as those with a passion for the history of American banking and finance. The 1929 series marks the end of an era for National Bank Notes, and the New York-issued $10 bill stands as a testament to the legacy of this period in U.S. history.