National Bank Note

National Bank Notes were United States currency banknotes issued by National Banks chartered by the United States Government. The notes were usually backed by United States bonds the bank deposited with the United States Treasury. In addition, banks were required to maintain a redemption fund^[1] amounting to five percent of any outstanding note balance, in gold or "lawful money." The notes were not legal tender in general, but were satisfactory for nearly all payments to and by the federal government.

National Bank Notes were retired as a currency type by the U.S. government in the 1930s, when U.S. currency was consolidated into Federal Reserve Notes, United States Notes, and silver certificates.