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1902 Plain Back $5 Central National Bank Cleveland OH (CH#4318)

1902 Plain Back $5 Central National Bank Cleveland OH (CH#4318)

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This large size National was issued by the Central National Bank of Cleveland, Ohio. This note grades in Fine condition.

Currency Highlights:
  • These large size National Currency notes were issued beginning in early 1902.
  • Housed in an archival quality currency sleeve.
  • Circulated Plain Back $5 note from Series 1902 in Fine condition.
  • Face: A portrait of President Benjamin Harrison.
  • Back: An engraving of the Pilgrims at Plymouth Rock.

Since over 12,000 banks were chartered and issued notes, these issues have become highly sought after by collectors. Add this nice collectors item to your cart today!

This note was 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.

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