Fr. 452 Original $100 National Bank Note

One of the rare and desirable U.S. type notes is the Fr. 452 Original $100 National Bank Note, which displays the “Presentation of the Declaration of Independence” on its back. According to the best census available only about two dozen Original Series $100 nationals have been traced, making its presence a stellar addition to any collector’s holdings.

Specifications

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Background
Prior to the Civil War, our nation’s third President Thomas Jefferson was among the most popular paper money subjects of the state bank note era. By extension, his greatest work, as principal author of our founding document our Declaration of Independence became an iconic image expressing patriotism and nationhood on our currency.

In addition to portraits, state bank notes also sported Jefferson’s image in a collective grouping based on John Trumbull’s famous painting “Declaration of Independence” portraying events of July 4th, 1776. Jefferson, the “Father of the Declaration” and fellow drafting committee members presented the document to John Hancock and the rest of Congress for their approval.

As its principal author, Jefferson is depicted front row center at this occasion. He is surrounded by John Adams, Roger Sherman, Robert Livingston, and Benjamin Franklin, the committee who assisted in drafting the document. The painter of this famous scene John Trumbull depicted Jefferson as handing the document to John Hancock, president of Congress.

Currency images based on the Trumbull painting were very popular on the state-regulated currency prior to the Civil War. The earliest apparently was created by Underwood, Bald, Spencer and Hufty and began appearing on notes in the 1830s. Another currency image of the event was created by Toppan & Carpenter for currency use in the 1850s. A third was created by New England Bank Note Co. in the later 1850s, and used on notes printed by that firm and American Bank Note Co., of which it became a part in 1858. Additional depictions of the event on obsolete notes were created by Danforth, Wright & Co., and lesser known security printers.

With the coming of the National Bank Note issuing era in 1863, the Declaration image was ripe for use on these notes, too. According to eminent currency authority Gene Hessler, Frederick Girsch executed the scene as a currency sized security engraving for American Bank Note Co. This Declaration engraving graced the backs of $100 First Charter National Bank Notes. First $100 nationals were delivered to the Comptroller of the Currency for issuing to banks commencing April 8, 1864, according to data compiled by NBN authority Peter Huntoon.

History
Events surrounding the creation of Trumbull’s image are historically interesting and worth recounting. According to the artist, his "Declaration of Independence" was meant "to preserve the resemblance of the men who were the authors of this memorable act." Jefferson, himself, suggested Trumbull should paint the scene of his greatest triumph to preserve its importance in the historical record of the young nation.

Trumbull began composing the painting in 1786 while at Jefferson's residence in the Grille de Chaillot, Paris. Jefferson provided information, advice, and even a sketch of the Assembly Room. Completion of the project, however, took more than three decades, since the artist sought out delegates to paint from life. At length, Jefferson pronounced the completed work “admirable likenesses, they all are.”

Trumbull’s original painting is in the U.S. Capitol. It includes portraits of 42 of the 56 signers and 5 other patriots who did not sign the document. Facial features of many of these actually were painted from life. Fifteen men who signed the Declaration are not represented.

Historical critics complain that Trumbull has created an event that never happened the way the artist depicted the event. Even though the painter endeavored to faithfully recreate the Independence Hall Assembly Room and faces of delegates, critics find irksome the inclusion of men who were not there and the exclusion of others who were. On Trumbull’s part he felt he had captured the “spirit” if not the literal truth.

Trumbull’s Declaration has its humorous touches. Jefferson’s feet are askew under table with what appears to be John Adams’ foot on top of Thomas Jefferson's right foot! An old tale suggests this represented their constant feuding, and that old Federalist John Adams offered Trumbull “a bribe to paint his foot on top of Jefferson's to finally get the better of him.” The currency engraver would have none of this irony, and the gentlemen’s feet are untangled on the currency backs!

The artist sold the original 12-foot by 18-foot canvas to the United States March 4, 1819. It has been displayed in the Rotunda of the Capitol since 1826. On December 19, 1831, the artist sold a smaller second copy (20 7/8 x 31 in.) of the painting to Yale University, along with other artwork, in exchange for a yearly annuity. Yale also committed to house Trumbull’s paintings in a fireproof gallery.

A copy of Asher B. Durand's engraving of John Trumbull's painting hung over Jefferson’s fireplace in his showcase Monticello residence. Trumbull had commissioned the engraver to render his painting on steel for $3,000, a task that took three years.

Finally on July 4th 1826, precisely the 50th anniversary of the adoption of the Declaration of Independence that Jefferson and John Adams his old antagonist had co-written, both former Presidents died within hours of each other. Adams had vowed “I will outlive Jefferson,” but succumbed with the words “Thomas Jefferson survives” on his lips, unaware that his political adversary had already passed away several hours earlier.

On the face of the $100 First Charter nationals is an engraving of Commodore Oliver H. Perry during the Battle of Lake Erie from the War of 1812 at lower left. This image was engraved by Louis Delnoce from a painting by W.H. Powell  At right James Bannister’s engraving “Union” and the fasces of governing authority demonstrates the federal government superiority to states’ rights during the Civil War.

Collecting
Treasury records show that approximately 1.25 million First Charter $100 nationals of all varieties were originally issued.

Even though only about two dozen of the Original Series Chittenden-Spinner Fr. 452 notes which were the first issued are available, another 50 or so examples exist of Fr. 454-Fr. 463. These are additional First Charter $100 national note  varieties that are differentiated by Series, signatures and type of Treasury Seal. Among these varieties, the last issued are considered the rarest. As a type even Very Good examples of any of the varieties sell for five figures. All known examples are circulated.

Many consider Jefferson one of our most brilliant Presidents. In 1962 his successor John F. Kennedy brought 49 Nobel Prize winners to the White House. He told them: "I think this is the most extraordinary collection of talent, of human knowledge, that has ever been gathered at the White House, with the possible exception of when Thomas Jefferson dined alone."