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<p>[QUOTE=&quot;scottishmoney, post: 2352154, member: 12789&quot;]Unfortunately a lot of Nationals were issued by &quot;wildcat&quot; type banks in the 1st Charter period -until 1875 that quickly went belly up - redemption rates were high because people wanted their money.&nbsp; The next round of &quot;wildcat&quot; type nationals were the red seal Series 1902 notes that were smaller charters like mom and pop type banks - but they didn&#039;t have near the failure rate that the 1st charters do.</p><p><br /></p><p>And bank failures are a real reason that many of the early notes were redeemed - bank failed but the bonds with the Treasury insured the note issue and people turned them in.</p><p><br /></p><p>One of the charters I collect was granted in 1889 and soldiered on until 2013, the others I collect went under during the Great Depression.[/QUOTE]</p><p><br /></p>

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