What is the value of a 1929 US 5 dollar bill from the Mellon National Bank of Pittsburgh PA?

Answer 1

Most 1929 National Bank Notes are moderately valuable, but the number of factors affecting prices make an online estimate very difficult. While this site ordinarily tries to provide reasonable estimates, people who work with National Bank Notes recommend that bills be evaluated in person by an expert dealer or appraiser.

Info: What is a National Bank Note?

The brown seal and the banner across the bill's top front mean that it's a special type of paper money called National Currency. These now-unusual bills were backed by bonds deposited with the Treasury by the issuing bank.

Series 1929 National Currency was printed in two forms:

* Bills issued as National Bank Notes have the words "National Bank" and the name of the issuing bank to the left of the portrait. In addition, the issuing bank's ID number is printed in heavy black type on the left and right edges of the bill.

* Bills issued as Federal Reserve Notes have the words "Federal Reserve Bank" and the name of the district city to the left of the portrait.

Bond-backed currency was discontinued during the Great Depression as part of the government's efforts to stabilize the economy. 1929 was the last series date for National Currency Notes, although these bills continued to be printed for a few more years.