Obsolete US notes, Civil War era

al410

Been collecting US coins for many years and just bought my first obsolete note. Looks interesting.

Al

Steve_in_Tampa

Congratulations on your first Obsolete. Your note shows a small train vignette bisecting the denomination, Native American warriors are at top left, and Mechanics in contemporary dress is at bottom right. Chances are is has a blank back. Nice note.

al410

Yes blank back, and I am really surprised at the very nice and intricate designs. I may be hooked but need to do much research because I have no idea as to values. I paid $60 for this so not sure how much I over paid or not. It had buy it now on ebay for $99 and I offered $60 and was surprised I got it. But I did look at precious sales and seen some of less quality in that price range. Was from a reputable ebay seller. Either way I like it.
Al

al410

Looking for price guides for obsolete notes, especially civil war era.
Thanks
Al

TunaMcButter

Okay so here is the cool thing about this note, and that is its backing because specie gold and silver coinage was in short supply as it was devoted to the military and other critical payments, As a result all money in the South was usually backed basically by the full faith and credit of the issuing authority, However one notable exception (this is where we get into your bill) was a series of notes issued by the state of Mississippi in 1862, which was backed by cotton stored by the states planters, which would be your note, also your note is not a remainder its been issued notice the 2 signatures at the bottom i would stake that the date was also written by the second signature due to the swooping curls. Red book has your note this way left side 2 Indians, one kneeling and one standing, center small passenger train; cotton pledge XX underprint in drab, light gray undertint right side large 20, Industry seated with large gear and tools, factories in background, Uniface dated May1 1862 value 150-595 with a rarity of 8, the kindle version of A Guide Book of Southern States Currency redbook is 11.49 hard cover is 110 bucks

sellitstore

Thank you, TunaMcButter, for your excellent addition. Yes, this is indeed the most important and significant aspect of this special emergency issue.

A good collecting theme is money payable in things other than other money. The most common for scrip are the general categories of "goods" or "merchandise" but some scrip can be payable in cotton, lead, water, meat and many other things of value.

al410

Thanks, I am slowly learning and these posts are very helpful
Al

JoeLewis

Here are two Indiana notes I picked up recently.

SonnyD

I picked this $10 Franklin bank obselete last month for the great imagery content and I've recently found a security feature within it as well looking under my loupe. Very fascinating to me.

gsalex

@JoeLewis said:

Hey, I found my cherubs! Last year I picked up a couple tiny proofs of these little guys without knowing anything about them. And here they are on the back your your Gosport note. Now I know they were engraved by Wellstood, Hay & Whiting.