Description

1882 Holyoke MA $5 Brown Back National Currency Fr.467 Hadley Falls NB CH#1246 PMG VF25

This is a rare and historically rich $5 1882 Brown Back National Bank Note issued by The Hadley Falls National Bank of Holyoke, Massachusetts (Charter #1246). Graded PMG Very Fine 25, this piece is cataloged as Friedberg #467, and bears Serial Number 1, making it especially significant to collectors.

Authenticity

Certified by PMG (Paper Money Guaranty) with secure encapsulation, this note is authenticated as a genuine national currency issue. The back label notes "Repaired, Minor Splits", which is common for notes of this age and use. The grading and authentication add confidence to its provenance and collector value.

Historical Significance

Issued on April 4, 1885, this note is part of the Second Charter Period (1882–1908) when national banks issued currency backed by U.S. government bonds. The Hadley Falls NB was among the institutions chartered during the booming industrial era in New England. Holyoke, known for its paper mills and hydropower infrastructure, was a vital player in the American Industrial Revolution. Owning a note from this bank is like holding a piece of that local and national economic history.

Design and Features

The front (face) of the note features a portrait of President James A. Garfield, surrounded by finely engraved detail and ornate typography. The distinctive brown ink back design, for which the "Brown Back" notes are named, displays the charter number "1246" in a large green panel flanked by decorative patterns. The bank’s name is prominently printed across the center, with engraved signatures of the cashier and president.

Key design elements include:

Brown Treasury Seal
Charter Number 1246 on both face and reverse
Portrait of James A. Garfield
Ornate green reverse with numeral “1246”
Massachusetts state seal and eagle vignette on the back
Handwritten pen signatures: Bruce | Wyman

Remarkable Denomination

Though denominated at just Five Dollars, in the late 19th century, this represented a meaningful sum of money. It had substantial purchasing power, equivalent to over $150 in today's money, and would have circulated locally within Holyoke’s economy.

Catalog Number

Friedberg #: 467
Charter #: 1246
PMG Certification #: 2000560-001

Collector’s Value

This note checks several rare boxes for collectors: it’s from a Massachusetts bank, features a low Serial Number 1, and is a Brown Back—a desirable type for U.S. national currency collectors. Adding to its appeal is the note's strong aesthetic, rich historical context, and relatively limited surviving examples from this issuing bank. Whether you're building a U.S. type set, a Massachusetts registry, or simply collecting significant national banknotes, this piece offers a compelling blend of rarity and storytelling.

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