National Gold Bank Notes

National Gold Bank Notes

National gold bank notes are the currency issued by the national gold banks of California in 1800s.  There were ten different national gold banks.  Nine of those were in California and the other was The Kidder National Gold Bank of Boston.  The Kidder Bank issued national gold bank notes, but they never entered circulation.  The same was not true for the nine California gold banks.
National gold banks had their heyday between 1870 and 1875.  For a bank to become a gold bank and issue national gold bank notes they had to keep a 25% specie reserve for its circulation and it was only able to issue 80% value of their bonds as national gold bank notes.  Those requirements meant the national gold banks did not get as good a return on their money as regular national banks.  However, these measures were necessary in a time when paper money wasn’t trusted.
National gold bank notes were only issued for original series and 1875 series notes – the first charter period.  They issued 5, 10, 20, 50, and 100 dollar denominations.  Most notes encountered are the five dollar denomination.  Fifty and one hundred dollar national gold bank notes are extremely rare and command extreme premium over the smaller denomination notes.  The design of a national gold bank note is the same as that of other first charter notes; but the paper of a national gold bank note is darker and the reserve shows a collage of coins instead of scenes from artwork around the rotunda.
If you have a national gold bank note you are looking to sell or have appraised, let us know: info@rarenationalcurrency.com

 

 Charter Number  Bank Title
 1699 The Kidder National Gold Bank of Boston
 1741 The First National Gold Bank of San Francisco
 1994 The First Gold Bank & Trust Company of San Francisco
 2014 The National Gold Bank of D. O. Mills & Co. Sacramento
 2077 The First National Gold Bank of Stockton
 2104 The First National Gold Bank of Santa Barbara
 2158 The Farmers National Gold Bank of San Jose
 2193 The First National Gold Bank of Petaluma
 2248 The First National Gold Bank of Oakland
 2266 The Union National Gold Bank of Oakland