567
***Auction Highlight*** 1882 $5 Large Size National Currency "Brown Back" 2nd Charter Period James G
Currency:USD
Category:Coins & Paper Money
Start Price:25.00 USD
Estimated At:495.00 - 990.00 USD
NOT SOLD (BIDDING OVER)
0.00USD+ applicable fees & taxes.
This item WAS NOT SOLD. Auction date was 2021 Apr 19 @ 13:00UTC-4 : AST/EDT
DEMO LOT
***Auction Highlight*** 1882 $5 Large Size National Currency "Brown Back" 2nd Charter Period James Garfield Fr-477 Grades vf+. 1882 $5 brown back bank notes this bank issued. Each note has a portrait of James Garfield on the left hand side of the bill. These are very popular with collectors because they have different text layouts. The Congressional Act of July 12, 1882 created the Second Charter Period, the notes of which bear the designation, “Series of 1882.” The purpose of the Act was to make it possible for the banks chartered in 1863 and later to renew their charters at the end of their 20 year term, and also to enable newly organized banks to acquire an initial charter. New notes were designed to mark the transition and in all, three types of notes were issued during this period. These were first placed in circulation in 1882 by two classes of banks; by old banks originally chartered in 1863 and then re-chartered in 1882, and by new banks organized and chartered between July 12, 1882 and April 11, 1902. Brown backs were issued from 1882 to 1908, and would no doubt have continued until 1922 had it not been for passage of the Aldrich-Vreeland Act which resulted in the issuance of the second type
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