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!
Union Bank of Maryland. Counterfeit. Comment: Stains. A contemporary counterfeit of a rare early Baltimore obsolete. Stains in the upper right are not significant and blend in well.
Proof. Bank of Augusta. Listed in Haxby only as a regular issue for the design. A portrait of George Washington can be seen on the left and a seldom used portrait of Patrick Henry can be seen on the right. Typical PC's can be found along the signature lines. Very attractive.
Hagerstown. Washington County Savings Institution. Counterfeit. Comment: Minor Repair. Light repair near the upper right corner is minor.
Cut Cancelled. Republic of Texas. An attractive example with strong color and solid paper. A typical cut cancel can be easily overlooked.
Baltimore. Howard Park Steam Cotton Factory. Comment: Rust Minor Repairs. R-6. Vignettes include a Bust 25c reverse design. Rust spots sprinkle into even wear. Repairs are of little distraction.
Citizens Saving Institution. Baltimore. R-7. Lithography. Stated but unconfirmed to be located in Fell's Point.
Warfieldsburg. Carroll County. R. Nelson. Remainder, R-7. R. Nelson was the owner of a general store and the local agent for Stainburn's Vegetable Extract Anti-Bilious Pills Well centered with only light folding and premium paper.
Columbia Bank. Washington, DC. Mounted on Cardstock. Hole Punch Cancelled. From one of the many fraudulent banks in business in DC from 1852-56. Vignettes include Hebe offering a drink to an eagle, an eagle perched on a federal shield, and Ceres kneeling in a field. The appearance is bright and fresh. Typical POC's lie across the signature lines.
Bank of St. Johns. A cotton plant is the central vignette. Attractive red and black ink with solid paper.
Farmers and Merchants Bank. Ashland. A lovely note with black ink and large red protectors. A central vignette features a cattle drive. Quite eye appealing!
Charlottesville. Monticello Bank. An attractive red and black ink note that exhibits pleasing vignettes and even wear. An unnoted pin hole blends in well.
Remainder. Bank of Washington, North Carolina. A bright crispy note with strong red and black ink. Vignettes include a central portrait of George Washington.
Providence, Rhode Island. Bank of America. Remainder.
Providence, Rhode Island. Bank of America. Remainder.
Bullion Bank. Washington, DC. Lovely red and black inks provide excellent eye appeal. Much tougher than the lower denominations.
Bullion Bank of Washington, DC. Remainder. Beautiful red and black ink on the front and green ink on the back remains strong. Wear is even.
Sadler's Business College. Baltimore. An attractive note with vignettes of Commerce on the left and the Virginia coat of arms on the right. Green and black inks blend well onto paper with light even wear.