1882 Five Dollar National Currency Date Back 2312 The First National Bank Of Webster

1882 Five Dollar US National Currency

1882 Five Dollar National Currency Date Back

1882 Five Dollar National Currency Date Back | The First National Bank Of Webster, Charter number 2312.

Obverse: Bust of President James A. Garfield, assassinated seven months after he was elected twentieth President of the United States in 1881. Blue Treasury seal.
Signatures: (as depicted) James Fount Tillman, 8th Register of the Treasury and Daniel Nash Morgan, 19th Treasurer of the United States.
Reverse: At the left, head of George Washington. At the right, the U.S. Capitol.

Inscriptions:  National Currency  -  This Note Is Secured By Bonds Of The United States Or Other Securities  -  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  -  Counterfeiting or altering this note, or passing any counterfeit of alteration of it, or having in possession any false or counterfeit plate or impression of it, or any paper made in imitation of the paper on which it is printed, is felony, and is punishable by $1,000 fine or 15 years imprisonment at hard labor or both.

The First National Bank Of Webster

The First National Bank Of Webster in Massachusetts printed $2,230,170 dollars worth of national currency. This national bank opened in 1875 and stopped printing money in 1929, which equals a 55 year printing period. That is considering a long operation period for a national bank. During its life, The First National Bank Of Webster issued 11 different types and denominations of national currency. For the record, The First National Bank Of Webster was located in Worcester County. It was assigned charter number 2312.

The First National Bank Of Webster also printed 7,850 sheets of $5 1882 blue seal national bank notes. That is a pretty standard sheet output number for these issues. Most of the value is going to be in the condition. 1882 $5 blue seal bank notes were issued by some national banks in The United States. While these are a somewhat rarer issue, they just aren’t especially popular with collectors. With exception of some minor differences, they look exactly like the earlier brown back series. Most collectors would prefer the brown back notes. With that said, some 1882 blue seals can still be worth thousands of dollars.

Notes of the Second Charter Period
July 12, 1882 to April 11, 1902
(Notes of Second Charter types were issued from 1882 to 1922.)

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. As was typical of the First Charter Period, and for the same reasons, notes belonging to the Second Charter Period were issued for about 40 years or until 1922. The three types of notes are as follows: Brown Backs, Dates on Back, Denomination on Back.

Dates on Back. All denominations of this type bear a large "1882 - 1908" in the central panel on the back which is green. Notes of this type are referred to as “Emergency Money” as they were issued under the provisions of the Aldrich-Vreeland Act. These notes were placed in circulation from June, 1908 to July, 1916, but quite inexplicably, 50 and 100 Dollar notes kept being issued until 1922. The notes of this second type were issued only by those banks that had been issuing brown backs and whose charters were still in force. As a bank's charter expired during this period (1908-1916) it would be re-chartered and would then issue notes of the Third Charter Period, Series of 1902 with “1902-1908” on back. Understandably, the number of such banks kept decreasing during this nine year period and the notes of this type are today quite scarce. When the Aldrich-Vreeland Act expired in 1915, the third type was issued.

United States 5 Dollar Bills

1882 5 Dollar National Currency Date Back 2312 The First National Bank Of Webster

5 Dollar Bills : United States Military Payment Certificates US MPC