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3.2) USA Paper Money: What is a National Banknote?




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This article is from the Paper Money Collecting FAQ, by Bruce Giese giesewpm@tiac.net with numerous contributions by others.

3.2) USA Paper Money: What is a National Banknote?

After the US Civil War (1865-1935), the US government created
charters for private banks to print paper money which was backed
by the US Government. There were a very large number of national
banks chartered from all over the USA (e.g. Nashville, Tennessee;
Key West, Florida; Bismarck, North Dakota; L.A., California).
Many people collect "nationals" and the prices have gone up
substantially (to around the 150 dollar level on average).

 

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previous page: 3.1) USA Paper Money: I heard the US is changing its paper money, is this true?
  
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next page: 3.3) USA Paper Money: What are Silver Certificates and Gold Certificates?