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 $5 Allison-New National Currency Note was issued in 1875 during the first charter period, by the First National Bank Of Waverly New York. Notes from this charter period were issued until 1882. The vignette on the left is "Christopher Columbus in Sight of Land." The vignette on the right is the "Presentation of an Indian Princess to the Old World." The vignette in the center of the back is the "Landing of Christopher Columbus." Overprinted with a red seal and red serial numbers. Grades Fine / Very Fine. This note is extremely rare, with only three examples known to exist.