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1929 Type 1 $5 FNB of Malden, MA AU-5O EPQ PMG (CH# 588)

1929 Type 1 $5 FNB of Malden, MA AU-5O EPQ PMG (CH# 588)

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This small size National was issued by the First National Bank of Malden, Massachusetts. Graded as About Unc-50 EPQ by PMG. This is Charter #588. This scarce note has LOW SERIAL #40!

Currency Highlights:
  • These small size National Currency notes were issued beginning in early 1929.
  • This $5 note will be housed in an archival quality currency sleeve by PMG Currency.
  • Low Serial Number #40.
  • Lightly circulated Type 1 $5 note issued by the First National Bank of Malden, Massachusetts.
  • It is in about Uncirculated-50 EPQ condition as graded by PMG Currency.
  • Face: A portrait of Alexander Hamilton.
  • Back: An engraving of the U.S. Treasury.

Since over 12,000 banks were chartered and issued notes, these issues have become highly sought after by collectors. Add this nice collector’s 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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