Milwaukee, Wisconsin. $5 1882 Value Back. Friedberg 574 (W-748). The Marine NB. Charter #5458. PCGS Currency Gem New 65 PPQ.Deep overprint embossing is offered by this high grade $5 Value Back from the Marine National Bank of Milwaukee, Wisconsin. This prodigious note issuing bank received its federal charter in June 1900. Its name was changed to the Marine National Exchange Bank of Milwaukee on July 31, 1930. The bank issued nearly $12 million into circulation through the end of the National Currency era in 1935. This Gem graded $5 displays broad margins with razor sharp corners and edges. The engraved design elements, including the portrait of James Garfield at left, are vividly portrayed in dark inks. The aforementioned overprint is in deep blue inks.<p><p>The Value Backs of 1882 were created after the expiration of the Alrich-Vreeland act on June 20, 1915. The securities backing the notes reverted back to bonds only, as had been the case before the act was passed on May 30, 1908. This is a type that is very difficult to locate in the Uncirculated grade range with PCGS Currency certifying just 19 examples as such, all from this catalog number. They have graded just eight $5 Value Backs finer than the present offering.<p><p><strong>PCGS Population: </strong>1, 8 finer.<em>From Currency Auctions of Americas sale of January 1992, lot 2418.</em>
