1929 Type 1 $5.00 Auburn, Alabama VF-25 PMG (Fr#1800-1) CH#12455

1929 Type 1 $5.00 Auburn, Alabama VF-25 PMG (Fr#1800-1) CH#12455

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Product Details
This 1929 Type 1 Issued by the First National Bank of Auburn, Alabama. It is an excellent addition to any type collection!

Currency Highlights:
  • Small size National Currency issued beginning in early 1929.
  • Housed in an archival quality currency holder by PMG.
  • Graded Very Fine 25 by PMG.
  • Face: A portrait of President Abraham Lincoln.
  • Back: An engraving of the Lincoln Memorial.
  • Signatures of Jones/Woods. FR #1800-1.

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 of the series of National Currency Notes that was 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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