OBSOLETE or BROKEN
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‘OBSOLETE’ refers to any form of paper money which has been outdated—and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
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 notes will
be fully complete, including signatures, dates, and serial numbers.
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
with COMPLETELY BLANK
this lot contains
WONDERFUL EXAMPLE of an OBSOLETE BANKNOTE from:
THE MERCHANTS AND PLANTERS BANK
in the denomination of:
dates from the:
wonderful images and vignettes of:
The ways to
collect OBSOLETE CURRENCY borders on limitless.
Some of the more common
topics or themes, such as:
--by assembling a
denomination set, including such unusual denominations like
$1.25, $1.75, 1/8
vignettes, specific printers, or engravers
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
SPECIMEN preserved in HIGHLY COLLECTIBLE CONDITION, is suitable for
even the fussiest of collectors as it is an above-average example for its
destined to enhance any collection
There are some minor paper scuffs and a internal splits on the note, though it does not detract from this historical fiscal relic
the note illustrated is the exact one you will receive
please study the hi-resolution image yourself
REFER to the SCAN to EVALUATE the CENTERING, EMBOSSING, INKS, ALIGNMENT,
to formulate an independent opinion as to the quality and suitability of the piece.
For more information on this piece, please contact our office 586.979.3400