Grading Easton PA National Bank: The Difference Between $10 and $1,000

Historical Significance

The Easton (PA) National Bank note represents a fascinating chapter in American banking history. These national bank notes were issued between 1863 and 1935 as part of the National Banking Act, which created a uniform national currency backed by U.S. government bonds. The Easton bank, like many others across the country, issued its own currency that could circulate nationally, creating a unique collecting opportunity for numismatists today.

What makes these notes particularly interesting is their regional significance. Easton, located at the confluence of the Delaware and Lehigh Rivers, was an important industrial center in the 19th and early 20th centuries. The bank notes from this institution tell the story of local commerce and economic development in eastern Pennsylvania, making them highly desirable to both currency collectors and local historians.

Identifying Key Markers

When examining an Easton PA National Bank note, several key elements must be evaluated. The charter number, typically found in the series of 1902, would be 8660 for Easton. The note should bear the signatures of the bank’s president and cashier, along with the Treasury signatures that were standard for national currency.

The design elements mentioned in the forum discussion – the art deco vibes and shared designs with coinage – are particularly noteworthy. National bank notes often featured intricate engraving work that borrowed from contemporary artistic movements. The geometric patterns and stylized motifs would have been cutting-edge design for their era, and these aesthetic qualities significantly impact eye appeal and, consequently, value.

Type 1 designation mentioned in the discussion refers to the first variety of a particular design or series. For Easton notes, this could indicate the earliest printing format or signature combination, which would be more valuable to specialized collectors. Determining whether a note is Type 1 requires careful examination of the plate arrangement, position of seals, and other minute details that professional graders are trained to identify.

Grading Breakdown

Wear Patterns

Wear patterns on national bank notes follow predictable paths due to how they circulated. The highest points of wear typically occur at the folds – particularly the center fold where the note was most often bent during transactions. On Easton notes, pay special attention to the following areas:

• The portrait area, especially around the facial features and hair details
• The denomination panel at the corners
• The bank title and location text
• The Treasury signatures and seals

A note with minimal to no fold wear, particularly if it maintains crisp edges and corners, will grade significantly higher. Even a single heavy fold can drop a note from uncirculated to about uncirculated, potentially reducing its numismatic value by hundreds or thousands of dollars depending on rarity.

Luster and Paper Quality

The original paper quality of national bank notes was exceptional, typically made from high-grade cotton fiber that has proven remarkably durable over time. When evaluating luster, professional graders look for the original crispness and brightness of the paper. Easton notes, when well-preserved, should exhibit:

• A natural, slightly creamy tone characteristic of period paper
• Minimal toning or foxing (brown spots caused by oxidation)
• Intact paper fibers without thinning or brittleness
• Clear, sharp printing without ink bleed or fading

The CAC (Certified Acceptance Corporation) possibility mentioned in the forum is particularly relevant here. CAC stickers are only applied to coins and notes that exceed their numerical grade in eye appeal and originality. For an Easton note to receive a CAC sticker, it would need to show exceptional paper quality, vibrant ink, and overall superior preservation that goes beyond the technical requirements of its grade.

Strike Quality

While strike quality is more commonly discussed in coinage, it’s equally important for paper currency. The engraving process for national bank notes involved steel plates that could wear over time, affecting the sharpness of details. High-grade Easton notes should display:

• Crisp, well-defined borders and scrollwork
• Sharp lettering without any filling or weakness
• Clear portrait details, particularly in the hair and facial features
• Well-defined geometric patterns in the background designs

Notes with strong strike quality are particularly valuable because they demonstrate early printings from fresh plates, which are inherently rarer than later printings from worn plates.

Eye Appeal

Eye appeal is often the deciding factor between a note that grades at the low end of a category versus the high end. For Easton national bank notes, consider these aesthetic factors:

• Centering – how well the design is positioned on the paper
• Color vibrancy – the richness and saturation of the inks
• Overall cleanliness – absence of stains, writing, or repairs
• Margin quality – the width and evenness of the blank paper borders

The art deco elements mentioned in the forum contribute significantly to eye appeal. Notes that showcase these design features clearly, without folds or wear obscuring the intricate patterns, command premium prices from collectors who appreciate the artistic merit of these historical documents.

PCGS/NGC Standards

While PCGS and NGC are primarily coin grading services, their standards for condition assessment provide a useful framework for understanding currency grading. For national bank notes, the numerical scale runs from 1 to 70, with specific criteria at each level:

Poor (1-4): Heavy wear, damage, or staining; may be missing pieces

Fair (5-8): Considerable wear but intact; major design elements visible

About Good (9-12): Heavy wear but all major elements clear

Good (13-16): Considerable wear; design clear but flat

Very Good (17-20): Considerable wear; design bold

Fine (25-30): Moderate to considerable wear; design clear and bold

Very Fine (30-35): Slight to moderate wear; design sharp

Extra Fine (40-45): Slight wear; design sharp with original luster

About Uncirculated (50-53): Trace of wear; nearly full original luster

Choice About Uncirculated (55-58): Minimal wear; full original luster

Mint State (60-70): No wear; full original luster; grade based on blemishes and strike

For an Easton PA National Bank note, the difference between grades can be dramatic in terms of value. A note grading Fine-12 might be worth $100-200, while the same note in Choice About Uncirculated-58 could command $1,000-2,000 or more, depending on rarity and demand.

Value Guide

The value of Easton PA National Bank notes varies dramatically based on grade, with the following general guidelines:

• Fine-12 to Very Fine-20: $75-300
• Extra Fine-40 to About Uncirculated-50: $300-800
• About Uncirculated-55 to Mint State-65: $800-3,000+

Notes with the CAC sticker can command 10-30% premiums above these already substantial values. The art deco design elements and Type 1 designation mentioned in the forum would likely place such a note at the higher end of these ranges, particularly if it exhibits exceptional eye appeal.

Authentication Considerations

When evaluating an Easton note, authentication is paramount. Professional graders look for:

• Correct paper composition and aging characteristics
• Proper ink chemistry and printing techniques
• Accurate signatures and serial number formats
• Consistent wear patterns appropriate to claimed grade

Counterfeit national bank notes do exist, though they’re relatively uncommon compared to other collectible currencies. The intricate engraving work on these notes makes them difficult to replicate convincingly, but altered notes (where one bank’s details are changed to another’s) are more frequently encountered.

Conclusion

The Easton PA National Bank note represents an excellent collecting opportunity that bridges local history, artistic design, and numismatic value. The art deco elements and shared designs with contemporary coinage make these notes particularly appealing to collectors who appreciate both the aesthetic and historical aspects of paper money.

Condition truly is everything in this market. The difference between a note grading Fine-12 and one grading About Uncirculated-58 can represent a tenfold increase in value. Understanding the nuances of wear patterns, luster, strike quality, and eye appeal allows collectors to make informed decisions and potentially uncover undervalued specimens.

For the Easton note mentioned in the forum discussion, the Type 1 designation and CAC possibility suggest a high-grade, early printing that would be of significant interest to specialized collectors. Whether you’re a regional collector focusing on Pennsylvania national banks, an art enthusiast drawn to the art deco design, or an investor looking for appreciating assets, these notes offer compelling opportunities across multiple collecting disciplines.

As with all collectibles, proper storage and handling are essential to preserving value. National bank notes should be kept in archival-quality holders away from direct light, humidity, and temperature fluctuations. With proper care, an Easton PA National Bank note can remain a beautiful and valuable piece of American financial history for generations to come.

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