Martin as Cashier of the bank, and Edward Pearce as Bank President. All Series 1875 Nationals had the bank's Charter number added to the note, to help make sorting old worn out banknotes that were to be redeemed much easier.
"The Phenix National Bank of Providence, Rhode Island" was chartered on March 28, 1865 and issued Original Series First Charter Notes from 1865 up thru Series 1929 Small Size notes as the bank survived all the way through until the issuing period ended in May of 1935. This note has a faded Treasury Seal & both Charter #'s in the Red Overprint, they are light and still visible. There is a 3/16" internal split above the ". To the left of the central vignette. Furthermore, this note is well soiled and limp, from many years of circulation.The margins are tattered and nicked, having numerous repaired margin splits all around the note. The largest split is 3/16 in the bottom margin. There are numerous pinholes throughout the body of this note.
Despite the detractions which I have tried to explain in detail, the note is intact. The Kelly Census shows 88 large size notes reported on the bank; however, there are only four 1. Charter Series 1875 Aces reported on the bank. First Charter National Banknotes in general, have a lower survival rate relative to Plain Backs and Brown Backs.Of the 88 reported large size National Banknotes reported, 67 of them are 1902 Date Backs and Plain Backs. Those 67 notes were printed in 1908 or later. The banknote paper used for First Charters was thinner and did not hold up as well as the paper used on the later issues. This note is new to the census, the new owner can list it if they so choose.
Prior to September 1875, National Banknotes were printed by private outside contractors like American Banknote. These companies not only printed the notes, but designed, engraved and maintained the printing plates. Series 1875 National Banknotes were created to distinguish notes printed in house at the Bureau of Engraving and Printing. In the Fall of 1875, the face plates for National Banknotes were transferred from these private Banknote contractors to the BEP. Since the reverses of currency were printed first, these private banknote companies were initially printing the reverse of the notes, then transferring the work in process (partially printed sheets) to the BEP for Face printing and Serial numbering.Blue End Paper was a way to distinguish these transitional notes printed by two different printers while on the shop floor at the Bureau. Blue End Paper was the addition of Blue Fibers that were dumped into the vats during the paper making process to make a distinctive blue streak in the paper to identify these notes. The degree of Blue End Paper can vary greatly to as to the width and density of the blue, but generally speaking it ran vertically through the notes in a 2-3 inch wide strip to the left of center.
Blue End paper was in use from September 1875 into the 4. Quarter of 1877 or a little over 2 years. This note would make a fine addition to any Rhode Island State banknote collection.The bank was located in Providence County, and should appeal to those collecting that County and its surrounding areas. This note might also appeal to collectors of American Banknote material. American Banknote prepared the original Printing Plates for the 1863 Original Series Banknotes, you can see their company name. At the bottom of the central vignette. Don't let this transitional Blue End Paper note get away!
Please feel free to contact me with any questions, or if you need a better scan of the item. Good Luck & Happy Hunting! This item is in the category "Coins & Paper Money\Paper Money: US\National Banknotes". The seller is "vette70" and is located in this country: US.
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