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The 1929 $5 National Banknote from Kitzmillerville, Maryland, bearing the Charter number 8302, is a captivating piece of American banking history. National Banknotes, which were introduced during the Civil War era, played a crucial role in the stabilization and standardization of American currency. The Very Good (VG) condition of this note signifies that it has seen significant circulation, showing signs of wear yet maintaining the essential design features that make it a valuable collector's item. This note, issued by a bank in a small Maryland town, provides a fascinating glimpse into the local economic history of the early 20th century.
National Banknotes were authorized by the National Banking Act of 1863 and 1864. These acts aimed to create a stable, uniform national currency during the tumultuous Civil War period. The system allowed nationally chartered banks to issue currency backed by U.S. government securities. Each note was issued under the authority of a specific bank, with the bank's charter number and location prominently displayed. The 1929 $5 National Banknote from Kitzmillerville, Maryland, is a product of this system, representing the town’s involvement in the broader national banking network.
The design of the 1929 $5 National Banknote is rich with historical and symbolic elements. The obverse of the note features a portrait of Abraham Lincoln, the 16th President of the United States, whose leadership during the Civil War and commitment to preserving the Union left an indelible mark on American history. Lincoln’s portrait is prominently centered on the note, framed by an ornate border and flanked by the denomination “5” on both sides. The top of the note bears the inscription “National Currency,” while the bottom includes the denomination spelled out as “Five Dollars.” The serial numbers and the charter number 8302 are printed in blue, enhancing the note's aesthetic and historical value.
The reverse of the note, often referred to as the “greenback” side due to its green ink, features a design that emphasizes the strength and stability of the U.S. banking system. The central vignette displays the denomination “5” in large numerals, surrounded by intricate scrollwork and ornamental elements. The words “The United States of America” and “Five Dollars” are prominently displayed, reinforcing the note’s legitimacy and value. The intricate design work on both sides of the note showcases the craftsmanship and attention to detail characteristic of the Bureau of Engraving and Printing (BEP).
The 1929 $5 National Banknote from Kitzmillerville, Maryland, was printed by the BEP, the federal agency responsible for producing all U.S. paper currency. The BEP employed advanced printing techniques and stringent quality control measures to ensure the accuracy and durability of the notes. The printing process involved multiple stages, including the engraving of plates, the printing of the notes, and the addition of security features. Each note was then distributed through the Treasury Department to the issuing banks, which in this case, was the bank located in Kitzmillerville.
The mintage of National Banknotes varied widely depending on the issuing bank’s size and location. Smaller towns like Kitzmillerville typically issued fewer notes, making them rarer and more sought after by collectors. The VG condition of this note indicates it has experienced significant wear, including visible creases, folds, and possibly minor tears or stains. Despite these signs of wear, the main design elements, such as Lincoln’s portrait and the intricate border, remain recognizable and clear. The note’s historical and regional significance adds to its value for collectors who appreciate its historical context and visual appeal.
The 1929 $5 National Banknote from Kitzmillerville, Maryland, is a notable example of American currency that tells a story of the nation’s economic and social evolution. As an artifact, it represents the trust and stability of the U.S. monetary system during the post-World War I era. Collectors and historians alike appreciate this note for its blend of aesthetic beauty and historical relevance, making it a significant piece in the study of American numismatics. The presence of the blue seal and the specific charter number, along with the prominent image of Abraham Lincoln, enhances its appeal and underscores its place in the rich tapestry of U.S. currency history.