1902 Plain $5 St Clair Shores, MI VF-20 PMG (Fr#609, CH#12661)

1902 Plain $5 St Clair Shores, MI VF-20 PMG (Fr#609, CH#12661)

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Product Details
This is a large size National Bank Note issued by the First National Bank of Saint Clair Shores. A nice blue seal note!

Currency Highlights:
  • These large size National Currency notes were issued beginning in early 1902.
  • Housed in an archival quality currency sleeve.
  • Circulated Plain Back $5.00 blue seal note from Series 1902 in Very Fine-20 condition by PMG.
  • Face: A portrait of President Benjamin Harrison.
  • Back: An engraving of the Pilgrims landing.
  • Friedberg #609. Charter #12378.

Some 12,000 banks were chartered and issued notes and 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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