1902 Plain Back $10.00 Knoxville, TN - Fine (CH#9174)

1902 Plain Back $10.00 Knoxville, TN - Fine (CH#9174)

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Product Details
This 1902 series $10 large size national was issued by the City National Bank of Knoxville, Tennessee.

National banknotes are a very popular area of U.S. paper money collecting!

Currency Highlights:
  • These large size national currency notes were issued beginning in early 1902.
  • Housed in an archival quality currency sleeve.
  • Circulated plain back $10 note in Fine condition.
  • Charter #3837.

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This note was the last of the large size 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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