Large demand, small issues. This provides quite a conundrum for paper money collectors who seek out notes in general, let alone going after multiples. That is the case for this rare $20 National Bank Note that has graced the top 40 in Whitman Publishing’s 100 Greatest American Currency Notes publication. With guidance from authors Q. David Bowers and David M. Sundman, we will take a look at these rare notes.
#35 – Original and Series of 1875 $20 National Bank Note
The $20 Original Series and the Series 1875 National Bank Notes were first created by the American Bank Note Co. Those notes are quite rare now considering they have the imprint of the company. Later notes had old information removed and new information entered courtesy of the siderographic process and were printed by the Bureau of Engraving and Printing. Don C. Kelly, a paper money expert in national bank notes and obsolete notes, recorded just 144 in existence of the Original Series $20 note and 441 of the Series 1875 $20 notes. Demand is high for National bank notes, especially since they are collected by state and city location and some notes that were issued were by banks in states or territories with small populations.
The face of the note features a vignette of the Battle of Lexington, 1775, (engraved by Joseph I. Pease from a painting by Felix O.C. Darley) on the left side. To the right is Loyalty (engraved by Alfred Jones), which is an image of Miss Liberty holding a flag while walking forward with a flowing scarf. The back of the note depicts the vignette Baptism of Pocahontas which was engraved by Charles Burt from a painting done by John G. Chapman.
In 1960, the notes in Very Fine condition were valued at $180.00. By this publication (2006), the value increased to $1,500.00.
