Obsolete United States Paper Money
Steve_in_Tampa
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America has a rich history of Obsolete paper money which was issued by individual banks, territories, states, cities, railway companies and a host of others. I’ve always wondered what it was called while it was being circulated…before it became obsolete. I collect Florida Obsolete paper currency, which meant I needed a copy of Ron Venice’s guide, “Florida Paper Money” an illustrated history 1817 - 1934. A great reference.
This State of Florida $2, dated March 1st 1863, was printed by Keatinge & Ball during the Civil War. It features Ceres and an Indian maiden along with a large vignette of a passenger train. Edward Keatinge, an engraver for the American Bank Note Company teamed up with Virginian Thomas Ball, to form the company out of Columbia South Carolina. They also produced many of the Confederate notes. Post your Obsolete paper money !
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Printed by the American Bank Note Company and signed by George Roux and A.H. Cole, these Bank of Fernandina notes were a bank issued notes. From what I’ve read, many Obsolete notes lost value when used away from their city of issue. In other words, if you used this note in Atlanta or Charlotte, it wouldn’t be valued at $5.00.
Not really. Two are $75-$100, the others around $100-$300.
I'll post some soon. Just very busy at the moment. Steve started a thread that I can't resist. I'll see what I have scanned already and find some interesting stuff.
One of my favorite Obsolete sheets is this $1-$1-$2-$3 Tallahassee RailRoad Company (remainder) sheet printed by the American Bank Note Company. Some Obsolete notes were blank backs, but these wonderfully engraved notes got the full Monte. From what I’ve read and heard, the term Remainder applies to all unissued/unsigned Obsolete bank notes, but Russell is the expert and could speak more to this term.
This is why there's a decent interest on currency
Being a Florida native, that Florida note appeals to me. Very cool!
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During the Civil War coinage was hard to come by, so some states issued fractional paper currency to keep up with the demand. Most of these were blank backs, but some were actually printed on the back of unused, full-sized paper money that was being repurposed.
One thing I love about my home state's obsoletes is that they sometimes feature local scenes. Here are a few of my pickups from the last year or two with images of Rhode Island back in the day.
Elmwood Bank $5, April 2, 1863. Durand 292, Haxby RI-70 G6a, Bowers W-RI-250-005-G040A. With a scene of the village green in Elmwood.
Slater Bank $10, July 1, 1862. Durand 866, Haxby RI-205 G8b. With a custom view of Pawtucket Falls and mills with the bridge over the river
State Bank $10, Durand 1943, Haxby RI-390 G10, Bowers W-RI-1200-010-G050. At right, the Rhode Island State House on Benefit Street in Providence (now the Old State House).
Speaking of Rhode Island, my dad was a Chief Petty Officer stationed at Quonset Point Naval Air Station and our family lived there for three years. I bought these Rhode Island Obsoletes because I had a brother born there. They are Remainders. Interesting trivia, I see a ton more remainders for this bank than actual issued notes.
Nice, Steve! The closest location to Quonset that had obsolete banknotes is probably Wickford in North Kingstown. There are some nice banks that I collect from there. The RI Air National Guard still uses the base and I often see their planes flying overhead when I'm in southern Rhode Island.
I love the custom vignettes on Cinch's notes, especially the falls and mill. Village square scenes are used by several banks and are great glimpses into these towns in detail, each one unique.
I have a wonderful new purchase to contribute to this thread. Photo is from auction, as I haven't received the item yet. These are strictly Federal issues but are closely related to the obsoletes of the period. What makes this pair better than your ordinary War of 1812 notes?
I don't know much about War of 1812 notes so I'm curious what the answer to your question is! That's very handsome, by the way.
Nice examples @sellitstore . I don’t know if I’ve ever seen actual issued and signed examples of these.
Those are outstanding, Russell. I especially like the serials.
An early obsolete with a vignette from 1819 in Kentucky.
I love US currency but could never get into obsolete currency.
I bought this note for educational purposes only. This is probably the most imitated fake Obsolete I know of. The paper is artificially aged and they typically have serial number 8894.
@SaorAlba I think that your Kentucky note is a contemporary counterfeit which is unlisted and rarer than the genuine examples-very significant for that reason. Is it more valuable than the genuine? Good question. To the right collector, I'd say "yes". And your DeSoto note is a beautiful example of obsolete bank note engraving at it's best. The vignette of the scantily clothed woman at left was used on other available obsolete notes. Perhaps a collection of notes with this vignette?
@Steve_in_Tampa Great Florida notes. We've discussed your beautiful Tallahassee Railroad sheet elsewhere but should mention here that there are somewhat tricky copies of these out there, too. Quality (sharpness) of engraving isn't as good as originals because it's not engraved-it's lithographed, colors are a bit dull compared to originals.
Now you need one of those early Florida Territorial notes. They used to sell for $2000-$3000 but can now be had for less than $2000. You can find a quality example for a good price, with a little patience now. Most survivors are high grade anyway, with two digit serial numbers. How many could there be?
"Old 8894" was the label on the file at Christie's where we put inquiries about this common copy. Hopeful millionaires would call and not get past, "I have a $1000 bill....." when would cut them off and ask is it serial #8894? "How did you know" was usually the response.
Now to the Treasury Notes:
They are NOT issued, as they are missing one signature. I know of just one fully issued War of 1812 treasury note, although there may be several. Nearly all have zero to two of the three required signatures. A good proportion of the survivors are proofs.
The date makes this pair special. March 4, 1814 is a rare date for surviving examples. Of 99 records in the Heritage archives, just two appearances of this date can be found, and they are the same note, a $100, plate C, numbered one sheet away from this pair. It was sold in 2005 and again in Nov 2020. It brought $30,000+ last year but is considerably nicer than either of my two impaired examples.
These and the previously known example have the same crossed out date and I suspect that this is why these notes survived and were never issued. It looks like these two sheets were both hand dated Jan 1, 1814 and then changed to 1815. The first written date was before the law authorizing these was passed in March, 1814, so it was probably decided to just issue new notes instead of modifying dates and signatures by crossing out-probably not legal for U.S. Federal currency issues.
Notes from Dec 1814 are somewhat more available but the 1815 issues are the most "common" but still quite rare.
This note was listed as a Remainder in the auction description, and I’m curious how and why it saw as much circulation as it did. I’ve always thought of Remainders as unissued. Can anyone shed any light on this ?
It may well be an issued note, with that amount of wear it might not be possible to determine. But then again it could have been a wallet piece.
One bi-national note! Issued in St. John's New Brunswick but by an American owned lumber company - and payable in Massachusetts.
I think that @SaorAlba has it right. The Tallahassee Rail Road $1 is an issued note with faded signatures. I can see just a bit of the President's signature. And, yes, remainders are often found in low grades. Many probably were carried in wallets as souvenirs but many were deliberately folded and artificially "circulated" to enhance their chance of acceptance in commerce, after a bank had failed. If you didn't sign them, you weren't guilty of forgery or counterfeiting and laws probably varied from place to place with respect to passing genuine, unsigned notes.
The Jewett and Pitcher note is indeed an interesting one. Yes, it's a U.S.-Canada tie note payable at a national bank, and I can't think of many of those. Technically, it's a scrip note of a Boston lumber dealer issued in St. John, New Brunswick. The engravings and vignettes are beautiful products of American Bank Note Co. I know that there are $2s and I think that I've seen $5s, also but don't recall ever seeing any higher denominations.
Below are issued $2 and $3 from the Tallahassee Rail Road Co. as well as a few other Florida notes that I already had scanned.
It doesn't really get any better than that!
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Side by side comparison: issued note and a proof from the Richmond Bank of Alton, Rhode Island, by Danforth, Wright & Co., engravers.
“A vignette of a mechanic at left and a portrait of Jenny Lind, a popular Swedish singer whose United States performance tour in 1850-52 was arranged by P.T. Barnum, at right.”
Most of my obsoletes are from Washtenaw County, Michigan, where I was raised. They had a number of banks and a wide variety of notes.
Yes, a nice selection of attractive notes are available from this part of Michigan. The Ypsilanti notes use the same dies (Washington and Franklin) that were used for the first issue of U.S. postage stamps in 1847. The Washtenaw notes also come in a scarce variety payable in New York.
I think that PMG got the bottom note wrong. Looks like a copy to me. Lacks sharpness. Look at imprint at bottom. RWH&E didn't make notes with their own "advertising", their imprint, looking this poor.
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What a treat! Thanks to all who shared. I learned a lot. Peace Roy
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Led by a chariot of lions! I love that vignette, and a nice collection of Michigan all around, gsalex!
I've never seen these notes before. They are real beauties. How do you find these - love them.
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A few more.
Agreed. I have thought about making a systematic list of vignettes of actual local scenes, and then gradually tracking them down, at least the easier ones. I'm sure there are too many to get them all!
I wish i had more $4 bills in my life.
Here is my most recent pickup. Nice to see an obsolete note thread. Obsoletes are my collecting specialty, and there is so much research and discoveries that can be made.
Nice Hancock Bank $20. Rare denomination for this bank and in very nice condition.
Look at the low serial number. Probably not many issued.
I like the Canadian vignettes (St. George slaying the dragon) on the City Bank of Augusta, Georgia $2s, again with low serial numbers. The Hydra on the Michigan note is interesting-I see the start of a "Mythical Beasts" collection or show exhibit here. The $4 and the $50 have alligators, quite real, and rare on obsoletes. And the Texas note is a classic favorite denominated in Pesos and Dollars with three great vignettes, including eagle on cactus with snake in beak, ala Mexico. Small group with lots of great stories.
I agree. Likely not many issued. Common Bank, but very scarce denomination. I had to snag it when I saw it.
I like that idea, I suppose I have kind of collected like that already. Unfortunately for the beasts they are usually on the receiving end of being slaughtered. Sadly for fans of the beasts
Though, at least the alligators go in peace. I have this one too, in the same theme except non-reptillian:
I always thought that the female portrait was of Florence Nightingale - but later learned that she looks nothing like Florence Nightingale. She is Beatrix Frances Lambton, Countess of Durham. She had her first child at 20 - and then 12 more before she died at age 35... not sure why she's on the note - the American Banknote Company just liked her portrait I guess.
Before Texas obsoletes got expensive, I picked up this one from 1840, as representative note. The cut cancel is a little off-putting, but I probably couldn't have afforded it otherwise.
I'm going to give this thread a bump and maybe @sellitstore or another obsolete collector can help me out. There's a particular vignette, engraved by James Smillie, that I believe has some hidden microprinting. It's called "The Mill Door" and it appears on a Bank of St. Louis note and possibly others. Here is an example found in the Heritage archives.
And some enlargements of the vignette itself. The microtext is on a sign by the door, but unfortunately I haven't found anything that's high enough resolution to read it. It's going to require a clean vignette and good scanner.
This vignette was also used on the Stissing Bank, Pine Plains, NY and I have this proof. Unfortunately, it's in a safe deposit box and I don't have access right now for detailed scans.
I've always imagined that the text was not readable beyond "Sale" but would have described the sale of a local farm, or perhaps, even the mill, itself.
Sellitstore and Gsalex,
I have a 600dpi image from Sellitstore that is a little more readable. Here is a crop of that image:
It seems to be signed "J.D. SMillie, NY, Jany 1851.
At 1200 dpi the rest might be readable.
Bernie
Always looking for material from the Niagara river region.
Bernie, you nailed it. This is covered in an old Essay-Proof Journal and that is what they deciphered, too -- but this is a better image than what was published. I believe the text in the middle is just scribbles.
Russell, I'd still like to get a larger image next time you get over to that safety deposit box. Yours is the sharpest engraving I've seen yet.
Thanks to both of you!