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 $20 Colby-Spinner National Currency Note was issued in 1875 (original issue) during the first charter period, by the National Bank of Commerce of Providence, Rhode Island. Notes from this charter period were issued until 1882. The vignette on the left is the "Battle of Lexington." The vignette on the right is "Columbia leading a procession." The vignette in the center of the back is the "Baptism of Pocahontas." Overprinted with a red seal with rays on the right and red serial numbers. Grades Very Good / Fine. This note is extremely rare, with only three examples known to exist.