This lot is closed. Bidding ended on 12/31/2005.
"National Bank Notes" were a new form of paper money first issued in 1863 to stabilize the war time economy. Private banks were issued renewable national charters for a period of 20 years, and they could issue currency with a face value of up to 90% of their mandatory deposit of government issued bonds with the U.S. Treasury. Thousands of banks were granted charters and issued notes. This large sized $1 Allison-New National Currency Note was issued in 1875 during the first charter period, by the "Housatonic National Bank of Stockbridge, Massachusetts. Notes from this charter period were issued until 1882. The vignette in the center of the back is "Landing of the Pilgrims." The vignette in the center of the back is the "Baptism of Pocahontas." Overprinted with a red scalloped seal on the upper right and red serial numbers. Grades Almost Uncirculated. This note is extremely rare, with only two or three examples known to exist.