$295.0 Buy It Now or Best Offer
free,30-Day Returns
Seller Store monetariumllc
(1559) 100.0%,
Location: Palm Beach Gardens, Florida
Ships to: US,
Item: 404617205897
Return shipping will be paid by:Seller
All returns accepted:Returns Accepted
Item must be returned within:30 Days
Refund will be given as:Money Back
Circulated/Uncirculated:Uncirculated
Denomination:$1
Grade Designation:PMG 63 EPQ
Grade:63
Certification:PMG
Great obsolete Bank note for the specialist. «Obsolete bank notes,» also known as «obsolete currency,» refer to a category of historic paper money issued by various state-chartered banks in the United States before the establishment of the National Banking System in the mid-19th century. These banknotes were issued by individual banks and were not backed by the federal government. Here are some key points about obsolete bank notes: Pre-Civil War Era: Obsolete bank notes were primarily issued in the decades leading up to the American Civil War (roughly from the 1810s to the 1860s). During this period, there was no uniform national currency system, and numerous banks, both legitimate and fraudulent, issued their own banknotes. Variety of Designs: These banknotes came in various denominations and featured a wide range of designs, often showcasing local scenes, portraits of prominent individuals, and intricate artwork. Each bank had the freedom to design its own notes, resulting in a rich tapestry of designs. Lack of Uniformity: One of the significant challenges with obsolete bank notes was the lack of uniformity in design, denomination, and value. The notes issued by different banks often had varying levels of quality and security features. Limited Circulation: Obsolete bank notes typically circulated within the region or state where the issuing bank was located. This limitation in circulation made these notes less practical for trade beyond a local area. Vulnerable to Counterfeiting: Due to the lack of standardized security features and the proliferation of fraudulent banks, many obsolete bank notes were susceptible to counterfeiting. End of Era: The issuance of obsolete bank notes came to an end with the passage of the National Banking Act of 1863, which established a national banking system and authorized the issuance of a uniform national currency backed by the federal government. This marked the beginning of the modern U.S. currency system. Collectibility: Today, obsolete bank notes are highly collectible and are often sought after by numismatists. These notes offer a glimpse into the history of American banking, regional economics, and artistry during the 19th century. Collectors of obsolete bank notes typically focus on specific states, cities, or individual banks, and they seek notes in various conditions, from well-preserved uncirculated examples to well-worn notes that tell a story of their historical use. The scarcity and desirability of specific obsolete banknotes depend on factors such as rarity, historical significance, condition, and artistic appeal.
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