1882 Five Dollar National Currency Brown Back | The National Bank Of Commerce in New York, Charter number 733.
Obverse: Bust of President James A. Garfield, assassinated seven months after he was elected twentieth President of the United States in 1881.
Reverse: The charter numbers and surrounding ornament are green, the rest of the reverse is brown.
Inscriptions: National Currency - Secured By United States Bonds Deposited With The Treasurer of the United States - Series of 1882 - Will Pay The Bearer on Demand Five Dollars - Register of the Treasury - Treasurer of the United States - This Note is receivable at par in all parts of the United States in payment of all taxes and excises and all other dues to the United States except duties on imports and also for all salaries and other debts and demands owing by the United States to Individuals Corporations & associations within the United States except Interest on Public Debt - Every person making or engraving or aiding to make or engrave, or passing or attempting to pass any imitation or alteration of this note and every person having in possession a plate of impression made in imitation of it or any paper made in imitation of that on which this note is printed is by Act of Congress approved June 3rd 1864 guilty of felony and subject to a fine not exceeding one thousand dollars, or imprisonment not exceeding fifteen years or both.
The National Bank Of Commerce In New York in New York printed $155,875,000 dollars worth of national currency. Once a bank issues that much money there really isn’t much room for rare issues. However, there are certainly exceptions to every rule. This national bank opened in 1865 and stopped printing money in 1929, which equals a 65 year printing period. That is considering a long operation period for a national bank. During its life, The National Bank Of Commerce In Of New York issued 19 different types and denominations of national currency. We have examples of the types listed below. Your bank note should look similar. Just the bank name will be different. For the record, The National Bank Of Commerce In Of New York was located in New York County. It was assigned charter number 733.
The National Bank Of Commerce In New York also printed 679,000 sheets of $5 1882 brown back national bank notes. Very few national banks printed more than 50,000 brown back sheets like this bank. This is something that will likely be common for the type, but it could still be very collectible. You can take the total number of sheets printed and multiply that number by four to get the exact number of 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.
Notes of the Second Charter Period
July 12, 1882 to April 11, 1902
(Notes of Second Charter types were issued from 1882 to 1922.)
Brown Backs. 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. From 1902 to 1908 the brown backs, Series of 1882, were being issued concurrently with the red seals of the Third Charter Period, Series of 1902. The obligation on the notes of these two series is the same as on the First Charter Notes.