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The 1929 $20 Type II National Bank Note from Bridgeport, Connecticut, Charter #335, is a notable piece of U.S. currency that provides both historical and numismatic value. National Bank Notes, which were issued between 1863 and 1935, represent an important chapter in American banking history. This particular note was part of the 1929 series, which was a redesign of earlier National Bank Notes, produced during a transitional period in the U.S. monetary system. The redesign was a response to the increasing demand for smaller, more efficient banknotes and the rise of the Federal Reserve. As part of the National Banking Act of 1863, these notes were issued by chartered banks, with this one being issued by the Bridgeport National Bank, located in Bridgeport, Connecticut. The 1929 $20 Type II note is especially significant for collectors due to its association with the economic climate of the Great Depression, which began to take hold in the late 1920s and deeply affected U.S. currency and banking systems.
The history behind the 1929 $20 Type II National Bank Note from Bridgeport is intricately tied to the evolution of the U.S. banking system. The National Banking Act of 1863 established a system of nationally chartered banks, each of which was authorized to issue its own currency, backed by U.S. government bonds. These notes helped stabilize the U.S. economy during the Civil War and beyond. However, by the late 1920s, the U.S. monetary system was undergoing significant changes, including the growing dominance of the Federal Reserve, which was established in 1913 to serve as the central banking system for the country. In 1929, the U.S. Treasury introduced a new design for National Bank Notes, which were made smaller and more standardized. These notes were issued in denominations ranging from $1 to $100, with the $20 note being one of the most common and widely circulated. The 1929 notes marked a period of transition, as the U.S. economy was beginning to experience the initial strains of the Great Depression, which would significantly impact currency issuance and banking practices in the years that followed.
The design of the 1929 $20 Type II National Bank Note from Bridgeport reflects the government’s efforts to simplify and standardize U.S. currency. The Type II notes, including this one, were smaller in size compared to previous National Bank Notes, making them more practical for everyday use. The obverse features a prominent portrait of Andrew Jackson, the seventh president of the United States. Jackson was a popular figure in American politics, known for his populist policies and his role in expanding the nation’s territory during his presidency. His portrait on the $20 note was a continuation of the tradition of using presidential likenesses on U.S. currency, a practice that had begun with the issuance of U.S. paper money in the 19th century. In addition to Jackson’s image, the obverse includes the name of the issuing bank—Bridgeport National Bank—along with the denomination of the note, the serial number, and various security features such as signatures from both the bank’s president and the U.S. Treasurer. The overall design was functional, yet elegant, with simple, bold text and minimal ornamentation, consistent with the Type II design scheme.
The reverse of the 1929 $20 Type II National Bank Note from Bridgeport features a symmetrical design, with the denomination prominently displayed in large numbers at the center of the note. The reverse design is relatively simple compared to the more intricate designs found on earlier U.S. banknotes. It includes the name of the issuing bank and the phrase “National Currency,” which reinforces the note’s status as a legitimate form of legal tender. The reverse design was created to be functional and easily recognizable, as part of a broader effort to standardize U.S. currency and streamline its use. While not as ornate as some earlier notes, the reverse design still conveys a sense of official authority and stability, making it a reassuring symbol of trust in the U.S. monetary system at the time. The design of the 1929 Type II notes reflected the need for practicality, especially during the turbulent economic times leading up to the Great Depression.
The 1929 $20 Type II National Bank Note from Bridgeport was issued by Charter #335, which indicates the specific bank responsible for its creation. Charter #335 refers to the Bridgeport National Bank, a financial institution that was part of the system of national banks authorized to issue currency. Bridgeport, located in Fairfield County, Connecticut, was an important industrial city during the early 20th century, with a strong manufacturing base and a growing population. The issuance of National Bank Notes by the Bridgeport National Bank played a significant role in supporting the local economy, providing a stable and trusted currency for business transactions. While the Bridgeport National Bank no longer exists, the note from this particular charter remains a valuable artifact for collectors, representing both the history of the city and the broader national banking system of the time.
The mintage of the 1929 $20 Type II National Bank Note from Bridgeport is difficult to determine precisely, as records of specific mintage figures are often scarce. However, it is understood that these notes were issued in relatively small quantities compared to more widely circulated denominations such as the $1 or $5 notes. National Bank Notes were issued based on the needs of individual banks, and the notes were typically redeemed and destroyed once they were no longer in circulation. As a result, surviving examples of these notes, especially in good condition, are relatively rare. Notes from smaller cities like Bridgeport are particularly sought after by collectors, as they were issued by local banks and are less common than notes from larger cities or federal banks. The rarity of these notes, combined with their historical significance, makes them a valuable piece for collectors of U.S. currency and those interested in the history of the U.S. banking system.
The condition of the 1929 $20 Type II National Bank Note from Bridgeport, Charter #335, plays a significant role in determining its value. This note is graded as F (Fine), meaning that it shows signs of wear from circulation, but much of the design remains visible and intact. In Fine condition, the note may have noticeable folds or creases, as well as some edge wear, but the overall appearance is still quite good. The serial numbers, bank names, and portraits remain clear, and the note retains its structural integrity. Notes in Fine condition are considered collectible, especially those from less common charters or smaller cities like Bridgeport. While not as pristine as higher-grade notes, the F-grade note still holds considerable value due to its rarity, historical context, and unique origin. Collectors who specialize in National Bank Notes often appreciate the charm and character of notes in Fine condition, as they offer a glimpse into the everyday life of the past.
The 1929 $20 Type II National Bank Note from Bridgeport, Connecticut, Charter #335, is a fascinating piece of U.S. currency that provides both historical and numismatic value. The design, mintage, and condition of the note make it an important example of American paper money from the early 20th century. As part of the 1929 series, it reflects the economic transition of the United States during the early years of the Great Depression. The note’s connection to Bridgeport, a once-thriving industrial city, adds to its significance, as it represents the role of local banks in supporting the national economy. The Fine condition of this note ensures its continued appeal among collectors, who value its rarity, historical importance, and the role it played in the everyday life of Americans during a pivotal time in U.S. history.