The purpose was to facilitate commerce and banking in California as gold coins were cumbersome for banking--particularly in the large quantities which had become common. The notes were purposefully made to imitate gold bull yard and gold coins. The paper has a distinctly yellowish tone and the design of the back features United States gold coin in multiple denominations indicating to those previously unfamiliar with paper currency or hesitant to accept it, that the note was literally backed by gold. As such, there was a natural hesitancy to accept paper which was seemingly valueless--the central image on the back was specifically designed to allay any fears.The national gold bank notes circulated extensively and with little regard to preservation, leaving very few examples above Fine--regardless of the denomination. The rarity of the notes increases exponentially as the denomination increases. All national gold bank notes represent tangible links not only to the wild west and the gold rush in California but likewise to the most formative stages of American currency.
A collector should prize any example and his or her collect should add work aggressively to include and additional example, particularly if the piece offered represents either a different bank or a higher denomination. THE FARMERS NATIONAL GOLD BANK of SAN JOSE. Independently authenticated and graded by.
Although the word "apparent" does NOT appear on the holder, the following comments are printed on the back of the label: small repair in left margin. (the minor restoration executed with consummate skill to stabilize this historic banknote for future generations). For additional information, please call 586.979.3400. The item "$5 1874 National GOLD BANK Note=RARE VARIETY=Ch. 2158=SAN JOSE, CA=PCGS FINE 15" is in sale since Monday, May 29, 2017.
This item is in the category "Coins & Paper Money\Paper Money\ US\Large Size Notes\Gold Certificates". The seller is "bartinccor" and is located in Roseville, Michigan. This item can be shipped to United States.