After the end of the American Revolutionary War, the U.S. government struck coinage, but did not issue any official paper currency for circulation. This made everyday commerce difficult, as large transactions would be very cumbersome if completed solely with coins. Accordingly, private banks and institutions began to issue banknotes to ease commerce.
These notes are referred to as "Obsolete Currency" because they ceased circulating during the Civil War. Between 1810 and 1865, countless banks, railroads, states, canal companies and private merchants issued currency in many different denominations. Some are very colorful and all are historic: odd denominations include 2 cent, $1.50, $3, $4, etc.
During the Civil War, the various Confederate States issued their own banknotes to circulate alongside Confederate currency. Obsolete currency is some of the most attractive and historically interesting currency produced in this nation. Add some to your collection!
PROOF, Newton, The Sussex Bank. Has the typical hole punch cancellations. Pedigree to the American Bank Note archives.
PROOF, Newton, The Sussex Bank. Has the typical hole punch cancellations. PCGS uses the apparent term for small repaired tears. Pedigree to the American Bank Note archives.
Cincinnati Post Notes. Uncut sheet of 4 notes. $1, $2, $3, $5 notes.
New York County Bank. PROOF. Vignette of maids with shield. From the American Bank Note Co. archives.
Metropolitan Bank Washington DC. 3 vignettes. Red ink reads "REDEEMABLE AT NO. 70 NASSAU STREET . NEW YORK". Red ONE in background.
$1 4 note uncut sheet, Bank of Montgomery County, Norristown, Pennsylvania. A truly scarce and magnificent sheet that could be the centerpiece of your collection. A great Civil War era vignette featuring the Original Bank center surrounded by 3 Yankee Generals and a Colonel with the bust of George Washington bottom center.