National Gold Bank Notes were
National Bank Notes issued by nine national gold banks in California in the 1870s and 1880s and redeemable in gold. Printed on a yellow-tinted paper, six denominations circulated: $5, $10, $20, $50, $100, and $500.
A $1,000
note was designed and printed but never issued.
[Friedberg & Friedberg, 2010, p. 160.] During the issuing period of national gold banks (1871–83), the
U.S. Treasury issued 200,558 notes
[Huntoon, 1996, p. 126.] totaling $3,465,240.
Today, National Gold Bank Notes are rare in the higher denominations (and unknown on some issuing banks) with condition generally falling in the good-to-fine range. Approximately 630 National Gold Bank Notes are known to exist, and roughly 20 grade above "very fine".
History
The National Gold Bank Notes were authorized under the provisions of the Currency Act of July 12, 1870. The series was a result of the
California Gold Rush
The California Gold Rush (1848–1855) was a gold rush that began on January 24, 1848, when gold was found by James W. Marshall at Sutter's Mill in Coloma, California. The news of gold brought approximately 300,000 people to California fro ...
, where gold coins were preferred in commerce. Ten national gold banks were charted, nine of them in
California and one in
Boston, Massachusetts.
The Kiddler Bank was the only bank to have $1,000 notes among others prepared, however, no notes circulated from the bank.
About Paper Money - Large-size paper money - Early federal issues
Coin World
Issuing banks
Series overview
Footnotes
Notes
References
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External links
About Paper Money - Large-size paper money - Early federal issues
Coin World
The Federal Reserve Bank of San Francisco
{{Money and central banking within the contemporary United States (pre–1913)
Banknotes of the United States
Historical currencies of the United States
1870s in California
1880s in California
Economy of California