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Executive Currency - Offering Rare Paper Money for the Connoisseur

 
$3 OBSOLETE==FARMERS & MECHANICS==CANNELTON, IN==PERRY COUNTY==1858==Ch NEW
 
$3 OBSOLETE==FARMERS & MECHANICS==CANNELTON, IN==PERRY COUNTY==1858==Ch NEW
Larger Image
$135.00
$125.00
 
 
Description:

OBSOLETE  or  BROKEN  BANK  NOTE:

 

a FORERUNNER to the MONEY in YOUR POCKET

 

à    Long before the United States government officially issued paper currency in 1861 with the introduction of Demand Notes, paper mediums of exchange existed.  Among these were privately-issued and State-issued bank and scrip notes which typically circulated in a narrow radius from their point of release. These carried denominations from one-half cent to several thousand dollars.

Although the term ‘OBSOLETE’ refers to any form of paper money which has been outdated—and oftentimes extricated from circulation—collectors consider ‘OBSOLETE’ banknotes to be those issued by private banks, individuals, towns, or States.  Nothing “backed” the banknotes and, in the era before rapid communication, bearers of these notes often held worthless pieces of paper after the issuing bank failed or went broke—hence the secondly most applied designation ‘BROKEN BANK NOTE.’

 

Many of the most common/available (and most artistically attractive) come from the South.

 

 

A VERY HISTORIC—and EMINENTLY COLLECTIBLE—TYPE of PAPER MONEY:

 

An opportunity to begin or expand a collection at a very attractive cost.  Common obsolete notes can be acquired for less than one hundred dollars and many magnificent and likewise scarce pieces can be secured for less than five hundred dollars.

 

There are TWO MAJOR distinctions among the OBSOLETES:
--ISSUED

--REMAINDERS

Issued notes will be fully complete, including signatures, dates, and serial numbers.

Remainders will generally be in high grade (often Crisp Uncirculated) and frequently are incomplete missing all/some of the signatures, serials, date/year, etc.  Remainders offer an excellent venue to acquiring attractive examples at affordable prices.  Remainders represent notes leftover pieces after a bank failed or after private issues were outlawed.

 

 

ALMOST ALL are EXCEPTIONALLY ATTRACTIVE

No collection is complete without an example—yet so few collectors have ventured into this territory.

 

a fact that surprises many new collectors is that

ALMOST  ALL  are  PRINTED  on  the   FRONT  ONLY,

with  COMPLETELY  BLANK  BACKS

 

this lot contains a

WONDERFUL EXAMPLE of an OBSOLETE BANKNOTE from:

 

INDIANA

 

issued by:

 

THE FARMERS and MECHANICS BANK

 from the city of CANNELTON in PERRY COUNTY



in the denomination of:

 

 

$3

 

date of:

 

August 25, 1858

 

 

this lovely specimen has:

 

STRONG SIGNATURES; especially of the bank president

and

SERIAL NUMBER

 

with


wonderful images and vignettes of:

 

SEATED NATIVE AMERICAN MAID at right in OVAL


SEATED MAID with SHIELD & SPEAR at left

and

TWO SEATED MAIDS as CENTRAL IMAGE.


The ways to collect OBSOLETE CURRENCY borders on limitless.  Some of the more common

ways involve topics or themes, such as:

 

--by City, County/Parrish, State

--by denomination

--by assembling a denomination set, including such unusual denominations like

$1.25, $1.75, 1/8 dollar, etc

--by certain vignettes, specific printers, or engravers

--by purchasing only issued notes or only remainders

--by limiting the dollar amount spent on any one piece

--by one specific bank including all denominations, years/series

 

 

 

this SPELL-BINDING SPECIMEN preserved in HIGHLY COLLECTIBLE CONDITION, is suitable for even the fussiest of collectors as it is an above-average example for its technical grade

 

 

                       destined to enhance any collection

 

 

Conservatively graded:

 

CHOICE NEW


 additional comments:

HIGH grade note with some paper toning.



please study the hi-resolution image yourself

REFER to the SCAN to EVALUATE the CENTERING, INKS, ALIGNMENT,

to formulate an independent opinion as to the quality and suitability of the piece,

then use your own impression to determine the suitability of this piece for you own collection

 

 

 

based upon dealers' price lists, eBay, and other auctions,

this note carries a marketplace estimate of

 

$180

we encourage you to verify this for yourself

 

 

the note illustrated is the exact one you will receive

 

 

 Although we believe our price is very fair in the current market, it is our desire to place quality banknotes into appreciative collections.  Feel free to make an intelligent counter-offer if a discount will land this note into your collection.

 

 

 

 
         
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