National Bank

Commercial bank incorporated under the laws of the federal government and given a federal charter number, pursuant to the National Banking Act of 1863 and its amendments. Such banks were regulated by the Comptroller of the Currency, an officer of the Treasury Department.

National Bank Note

Note bearing the imprint of a specific National Bank and its location, plus the signature of bank officers, in addition to federal signatures and information. Original Series and Series of 1875 (nickname: “First Charter”) issued in denominations from $1 to $1,000, large-size. Series of 1882 (nickname: “Second Charter”) issued in denominations $5 to $100. Large-size. Series of 1902 (nickname: “Third Charter”), issued in denominations $5 to $100. Large-size. Series of 1929, issued in denominations $5 to $100, Type 1 and Type 2. Small-size.

National Bank Note Company

Firm founded in 1859 in New York City; a provider by contract of certain federal currency and Fractional Currency notes in the 1860s through the mid-1870s.

National Bank Note regional letter

From about 1902 to 1924, National Bank Notes had a large capital letter printed on the face to designate the region in which it was issued. This was to help Treasury Department personnel sort the notes when they were redeemed at a later date. The letters: N (New England banks); E (East); S (South); M (Midwest); W (West); P (Pacific district).

National Currency Bureau

In 1862, with Spencer M. Clark as its first director, the National Currency Bureau began operations in the attic of the west wing of the Treasury Building in Washington, D.C. In time, its facilities were expanded there, including to the basement. The bureau’s operations consisted of adding Treasury seals to bills printed by private contractors; later, the printing of certain Fractional Currency; and still later, the printing of currency of all denominations. It was succeeded by the Bureau of Engraving and Printing (see above) in the 1870s.

National Gold Bank Note

A note bearing the imprint of a specific National Bank and its location, plus the signature of bank officers, in addition to federal signatures and information. Issued in the early 1870s (in denominations of $5 to $100) by National Gold Banks located in the state of California. The reverse illustrates various gold coins (the same image used on all denominations). These notes were redeemable in gold coins.

net grade

An expression used to indicate that the grade opinion is based upon a consideration of the averages of positive and negative aspects of a coin, rather than strict adherence to the technical qualities or grading standards for the grade.

nickel silver

An alloy of copper, nickel, and zinc. Also known as German silver.

noncirculating legal tender (NCLT)

Government-authorized coinage struck for the numismatic market rather than for circulation.

note

A piece of paper money of $1 face value or higher. Synonym: bill.

notgeld

Emergency money, including coins and paper. Usually that issued in Germany, Austria, or France during the post–World War I inflationary period.

numerical grade

The grade of a coin as expressed in terms of numbers from 1 through 70.

numismatics

The study of coins, tokens, money, medals, and orders and decorations.