National Bank Note Types - Series 1929 Type 1
In 1929, all types of Federal currency were transitioned from large size to small size. This change was made for two reasons: Small size notes were cheaper and simpler to produce, and the Treasury wanted to adopt a uniform design for all types of paper money (for example, all small size $10 notes would have the same central portrait of Alexander Hamilton, the same counters on the corners, and the same back design).
Series 1929 small size National Bank Notes were issued from 1929 until the end of the National Bank Note Era in 1935 in denominations of $5, $10, $20, $50 and $100. There were two distinct types of small size National Bank Notes issued, with the same design, but different overprints: Type 1 notes were issued from July 1929 to May 1933 with the charter number overprinted twice in black, and Type 2 notes were issued from May 1933 to 1935 with the charter overprinted four times (twice in black, and twice in brown). Type 1 are much more common with 75% of the total small size survivors reported, compared to 25% for Type 2 notes.
Note: Small size National Bank Notes look very similar to the 1933 emergency issue of Federal Reserve Bank Notes. Due to time constraints, the emergency issue notes were printed using National Bank Note plates, but are not considered to be National Bank Notes. Both say "National Currency" along the top, but the emergency issue notes had the name of one of the twelve Federal Reserve Banks printed on the note, instead of a town's National Bank. The 1933 emergency issue Federal Reserve Bank Notes were discontinued in 1934.
Following are face and back images of Series 1929 Type 1 notes for each of the 5 denominations issued:
- Don C. Kelly, National Bank Notes, A Guide with Prices. 6th Edition (Oxford, OH: The Paper Money Institute, 2008).
- Dean Oakes and John Hickman, Standard Catalog of National Bank Notes. 2nd Edition (Iola, WI: Krause Publications, 1990).
- The National Bank Note Census, nbncensus.com
- Heritage Auction Archives, currency.ha.com