1929 Type 1 National Banknote $5
The First National Bank of Ironton, Ohio
PMG 35 Choice Very Fine
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Product Description
The images on this page are of actual banknotes that will be sold. This particular banknote is a National Banknote issued in 1929, which has been rated 35 (Choice Very Fine) by PMG (Paper Money Guaranty), a globally trusted banknote grading organization.
This item is one of the most popular "National Banknotes" in the history of American currency, and is a rare local banknote issued by The First National Bank of Ironton (bank code CH#98) in Ironton, Ohio.
The central image features a portrait of the 16th President, Abraham Lincoln, while the reverse side depicts an intricately detailed Lincoln Memorial in Washington, D.C.
National bank notes are appealing because, since they were issued by each individual bank, even if they have the same face value and year, the different bank names make them highly collectible and rare.
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basic information
Country of issue: United States
Publication year: 1929 (Series of 1929)
Type: National Bank Note
Type: Type 1
Face value: $5
Bank: The First National Bank of Ironton (Ohio)
Bank code: CH#98
Catalog number: Fr#1800-1
Appraisal institution: PMG
Grade: 35 (Choice Very Fine)
Signature: Jones / Woods
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What is a National Bank Note?
National Bank Notes were a unique American currency system issued under the National Banking Act of 1863. Under this system, licensed local banks were permitted to issue banknotes under the supervision of the U.S. government.
Therefore, the National Banknote has the following characteristics:
• The name varies from bank to bank.
• The region of issue is clearly indicated.
• Even with the same design, rarity can vary greatly.
• It is closely linked to local history and banking history.
The 1929 series, in particular, is the last National Bank Notebook to be issued in a small size (Small Size Notes) and is highly sought after in the collector market.
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Features of Type 1 National Bank Notebooks
The 1929 National Banknotes include "Type 1" and "Type 2." This banknote is classified as Type 1.
Characteristics of Type 1:
• The words "NATIONAL CURRENCY" are positioned at the top center.
• The bank name is prominently displayed in the center.
• Early design from the 1929 series
Since the layout has been changed in Type 2, Type 1 will be collected as the initial type.
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Ironton Bank (The First National Bank of Ironton)
This banknote was issued by a bank located in Ironton, Ohio.
Ironton was a city that developed from the steel industry in the 19th century and was an important industrial center along the Ohio River. The banknotes from this region are also historical documents that reflect the economic activity of the American Midwest at that time.
In collecting national bank notes:
• Regional banks are rarer than major city banks.
• Limited number issued
• The number of surviving individuals is limited.
These characteristics make regional banknotes like this one highly valued by collectors.
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The appeal of design
Obverse
At the center is a portrait of Abraham Lincoln. Lincoln is known as the president during the Civil War and is one of the most important figures in American history.
The bank name is clearly displayed on both sides along with decorative frames, emphasizing the regional characteristics unique to national banknotes.
Furthermore, the printing technology is precise down to the smallest detail, including the serial number and seal.
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Reverse side
The reverse side depicts the Lincoln Memorial in Washington, D.C. This building, completed in 1922, is known as a symbol of American democracy.
The green ink printing on the reverse side was a characteristic feature of banknote designs at the time and is still used on current American banknotes.
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About PMG Appraisal
PMG (Paper Money Guaranty) is a globally trusted banknote authentication organization and guarantees the following:
• Verification of authenticity
• Evaluation of preservation conditions
• Packaged in a protective case for long-term protection
This banknote has been rated PMG 35 (Choice Very Fine).
This grade is:
• Clear signs of distribution
• However, it retains its integrity as banknote.
• Design and text are clear and sharp.
This indicates the following state.
This grade is also very appealing for collection purposes.
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The Collectible Value of National Bank Notes
National bank notes are not just banknotes; they have the following values:
1. Historical value
Reflecting regional banking systems and economic history
2. Rarity
Each bank issues a different number of coins, so each coin has a different value.
3. Collectibility
There are many ways to enjoy collecting, such as completing a collection from the same bank or state.
4. Investment targets
Rare banknotes are increasing in value in the market year after year.
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Attractiveness as an investment or collection
This banknote is a very well-balanced collector's item for the following reasons:
• Popular Lincoln portrait
• Small National Bank Notebook
• Issued by a regional bank (rare)
• PMG certified
• Easily available in the mid-range category
National bank notes, in particular, have a unique collector base distinct from the coin market, and enjoy stable long-term demand.
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Goldsilverjapan
Goldsilverjapan provides expert information on coins, banknotes, and precious metals from around the world.
Areas of expertise:
• American coins (Morgan / Peace / Eagle)
• National Bank Note
• Gold coins, silver coins, and platinum coins
• Antique coins
• Investment bullion
We provide information that caters to a wide range of needs, from collectors to investors.
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summary
The 1929 $5 National Banknote (Ironton, Ohio / PMG 35) is a rare banknote that embodies the history of regional banks in America.
Featuring a portrait of Lincoln, the name of a local bank, and a PMG grading certificate, this banknote is an attractive item both as a collector's item and as an investment.
In the world of national banknotes, each of these local bank notes is unique, and owning one can be considered a way of holding history in your hands.
