Princeton, IL $20 1929 T1 Fr. 1802-. Citizens First NB. #2413 PMG AU 58 EPQ

🇺🇸 Princeton, Illinois $20 National Bank Note | 1929 Type 1 | Fr. 1802- | Citizens First National Bank | Charter #2413 | PMG AU 58 EPQ

The 1929 $20 National Bank Note from Princeton, Illinois, issued by the Citizens First National Bank under Charter #2413, represents a highly desirable example of Small Size U.S. National Currency. Cataloged as Friedberg 1802- (Type 1) and certified PMG About Uncirculated 58 EPQ, this note stands out as a high-grade, problem-free survivor from the final chapter of the National Banking era.

National Bank Notes from identifiable hometown banks hold a special place in U.S. numismatics, combining federal currency design with local banking history. This Princeton, IL issue offers collectors an exceptional blend of scarcity, eye appeal, and historical significance, further enhanced by its Exceptional Paper Quality (EPQ) designation.

Key Note Specifications

• City: Princeton, Illinois
• Denomination: $20
• Series: 1929
• Type: Type 1 National Bank Note
• Friedberg Number: Fr. 1802-
• Issuing Bank: Citizens First National Bank
• Charter Number: 2413
• Grading Service: PMG
• Grade: About Uncirculated 58
• Paper Quality: EPQ (Exceptional Paper Quality)
• Size: Small Size U.S. Currency

Citizens First National Bank – Princeton, Illinois

The Citizens First National Bank of Princeton was a cornerstone financial institution serving Bureau County and the surrounding region during the early 20th century. National Bank Notes issued by local banks like this one were integral to everyday commerce and directly tied to the economic vitality of their communities.

Charter #2413 identifies this note as a product of a specific institution and location, adding strong appeal for:

• Illinois state collectors
• Charter number specialists
• Collectors pursuing town, county, or regional sets

Princeton National Bank Notes are not overly common, and high-grade examples such as this are especially difficult to obtain.

1929 Type 1 Nationals – The Final National Bank Notes

The 1929 National Bank Notes represent the last issuance of National Currency in U.S. history. Following the Great Depression and major banking reforms, the National Banking System was phased out, making these notes the end of an era that began during the Civil War.

Type 1 notes, like this Fr. 1802- example, feature:

• “National Currency” printed at the top
• The bank’s title and charter number are prominently displayed
• A clean, balanced small-size design

Because these notes circulated during the economic turbulence of the late 1920s and early 1930s, many were heavily used or later redeemed and destroyed—making well-preserved survivors increasingly scarce.

PMG About Uncirculated 58 EPQ – Premium Quality

A grade of PMG AU 58 places this note just one step below full Uncirculated status. The EPQ designation further confirms that the paper is fully original and unprocessed.

This grade indicates:

• Crisp, bright paper with strong originality
• Sharp corners with only the slightest handling
• Bold ink and excellent print clarity
• No restoration, pressing, or artificial enhancement

For a small-sized National Bank Note, AU 58 EPQ is considered a premium collector grade, especially desirable among advanced collectors.

Design & Eye Appeal

The 1929 $20 National Bank Note features:

• A dignified portrait of Andrew Jackson
• Clean typography and symmetrical layout
• Strong visual contrast and clarity

The smaller format makes these notes easy to store and display while retaining a strong historical character tied to their issuing banks.

Collector Demand & Investment Appeal

Why This Note Is Desirable

• High-denomination ($20) National Bank Notes are scarcer than $5 or $10 issues
• Charter-specific demand adds localized collectability
• AU 58 EPQ examples are difficult to replace
• PMG certification ensures authenticity and market confidence

Market Strength

Small-size Nationals remain one of the most stable and liquid segments of U.S. paper money, with continued demand from:

• National Bank specialists
• State and town collectors
• Investors seeking historically finite currency

A Tangible Piece of Local American History

This Princeton, Illinois, $20 National Bank Note is more than just currency—it is a tangible artifact of American banking history, tied directly to a real community, a real bank, and a real moment in time.

Notes like this were used by merchants, farmers, and families during a pivotal period in U.S. economic history, just before sweeping reforms permanently changed the nation’s financial system.

Conclusion

The Princeton, IL $20 1929 Type 1 National Bank Note (Fr. 1802-) from the Citizens First National Bank, Charter #2413, graded PMG AU 58 EPQ, represents a high-grade, historically important example of America’s final National Bank Notes. Its excellent condition, original paper quality, and strong local identity make it a standout piece for both collectors and investors.

Opportunities to acquire premium-grade small-size Nationals from identifiable hometown banks continue to diminish as advanced collections absorb the remaining supply.