Bank deposit slip from 1857
JBK
Posts: 15,821 ✭✭✭✭✭
The value in this scrap of paper is that it is signed by Eliphalet Remington, founder of the Remington Arms Company (signed as "E R + Sons"). However, I noticed an intriguing numismatic connection.
The deposit slip breaks out currency and checks, but also gold and silver coins. I was a bit surprised to see that level of detail, and then even more surprised to see no provision for copper coins. Did banks of that era not accept cents and half cents for deposit?
Just curious to know if anyone has any insight on the reason for the gold and silver breakdown and the absence of a line for coppers (and copper-nickels, I suppose, as in the case of the new small-sized Flying Eagle cents).
15
Comments
Great pre Civil War collectable.
Nobody was using coins even back then?
Wonder if he had a picture ID.
so??? were silver dollars not coins????
Sorry for asking... but I am in Canada...
Considering the year, the “bills” could have been anything and perhaps accepted pending collection from the issuer. Gold and silver were probably broken down so that at the end of the day the Cashier could update the running totals of each on hand.
I have a deposit slip from 1836 to the Erie Canal Fund for $60,600.00, signed by Wm Bouck. He later became Governor of New York.
I picked it up on ebay for $1.25 plus $2.00 shipping. They (and no one else) knew what they had.
There were some great writing skills back in the day unlike what is seen now a days.
July 11, 1857 was a Saturday.
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
Imagine the line at the DMV if every picture had to be drawn!
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
Haven't you ever seen a good characture artist at a fair? Bet the line would have moved FASTER.
I wonder if "Bills" represented the agreed-upon discount. Only local bills and maybe those from the big national banks would have traded at face value.
ANA 50 year/Life Member (now "Emeritus")
Interesting old deposit slip... I would think the separate line for gold and silver was a direct accounting of the most 'liquid' form of cash...Checks and bills not nearly as common a form of transfer as today....Cheers, RickO
Somewhere I have a deposit ticket from the original Fifth Third Bank (Cincinnati?) from the early 20th Century that has separate lines for Gold and other coins. Cannot remember if there were separate lines for Silver and Other Coins. Now where did I put that.......
The inflation calculators say that in today's money that is a $10,000 dollar deposit. Impressive!
I think that most banks were open at least a half day on Saturdays.
When I worked for Coin World in Podunk (excuse me, Sidney) Ohio in the mid-1970's, the two banks in town were closed on Wednesday afternoons so that they could make their employees work Saturday mornings without having to pay them overtime. J. Oliver Amos sat on the Board of Directors of one bank and his cousin sat on the Board of the other bank, so there was no collusion to do this. Just coincidence.
This is cool. Is there anything on the back of the deposit slip? Zooming on the second pic seems to show some type of writing/something.
No, just blank.
I love the old time spindle hole. I am old enough to remember when forms and early computer punch cards carried the warning: "do not spindle, fold, or mutilate". At some point "spindle" was replaced with "staple".
A local pub uses a spindle at the bar to keep track of receipts. Alcohol, busy bartenders, and a big spike sticking up - what could go wrong?
Interesting collectible; back in the era of periodic bank runs, hard money was apparently one of the only absolutes in terms of money value as bank notes were only as good as the bank they were drawn on.
That's cool!
My YouTube Channel
Cool old collectable. I must say, I really love the beautiful handwriting from those days.
Dave