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- Small size National Currency notes were issued beginning in early 1929.
- Housed in an archival quality currency sleeve.
- Circulated note graded Very Fine-20 by PMG.
- Face: A portrait of Andrew Jackson.
- Fr. #: 1802-1.
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This series 1929 is a Type 1 $20 National Note.
This is from 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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