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1929 Type 2 $10 New Kensington, Pennsylvania VF (CH#13571)

1929 Type 2 $10 New Kensington, Pennsylvania VF (CH#13571)

This collectors item was issued by the Logan National Bank and Trust Company of New Kensington, Pennsylvania.

Currency Highlights:

  • This small size National Currency note was issued beginning in early 1929.
  • Housed in an archival quality currency sleeve.
  • Circulated $10 note from series 1929 in Very Fine condition.
  • Face: Features a portrait of Alexander Hamilton.
  • Back: Displays an engraving of the U.S. Treasury building in Washington D.C.

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This note was part of the last series of National Currency Notes that were first issued in 1863. This type was conceived by Secretary of the Treasury Salmon P. Chase who devised a system of nationally chartered banks. Individual banks purchased U.S. government bonds and deposited them with the comptroller of the currency. For up to 90% of the profit, the comptroller would authorize the production of notes bearing the individual bank’s name.

Since over 12,000 banks were chartered and issued notes, these issues have become highly sought after by collectors.

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