In early 1933, the governor of Michigan closed banks to head off a financial collapse in Detroit. A panic soon swept the country, as depositors feared losing their life’s savings. Major banks in Chicago and New York closed to halt “runs” by depositors withdrawing their money. On March 6th, the nation’s 18,000 banks were ordered closed for a “bank holiday” – and for seven days people struggled without cash. America was in a banking crisis!
Printed on modified Series 1929 National Bank Notes, these “Emergency” Federal Reserve Bank Notes infused capital into the system to save America! Government titles on the notes were first blocked out. Then the notes were overprinted with the names of Federal Reserve Banks and facsimile signatures of bank officials. In a short time, these “emergency notes” were on their way.
Now, over 85 years later, you can own a prized 3-note set of these historic $5, $10 and $20 Federal Reserve Bank Notes. Each note bears the facsimile signatures of Jones-Woods, and was issued for only about 4 years (banks will vary). The notes are obsolete and difficult to find in quantity, and when our supply is gone, we don’t know when we can offer them again. Add this historic set to your collection today and SAVE off individual note prices!
- Year: 1929
- Product Type: Sets
- Note Features: Brown Seal
- Note Size: Small
- Denomination: $5, $10, $20