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 Replies: 17 / Views: 2,161 |
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Pillar of the Community
United States
4637 Posts |
Like many things during the Civil War, paper was a commodity that was in short supply. Many Obsolete notes were printed on the back of bonds and notes that were not issued. The inverted side is pretty cool.
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Bedrock of the Community
 United States
25643 Posts |
Hmmmmm. An "Inverted Trainy".
Inordinately fascinated by bits of metal with strange markings and figures
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Moderator
United States
56855 Posts |
What area of notes does this note fall into. Is it a banknote or something else? John1  |
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Pillar of the Community
 United States
959 Posts |
Not a banknote, but I suppose a promissory note if some kind. I have others from 1840 that were issued by canal companies. I have several other railroad company notes from the Civil War era.
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Moderator
United States
189767 Posts |
Very interesting!  |
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Pillar of the Community
United States
7641 Posts |
Notes like this fall in the category of "scrip" or "chits" in my opinion. Not "official" money but could have been redeemed for "real money" by the bearer at the issuing agency if submitted in the proper amounts.
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Moderator
United States
15544 Posts |
Interesting note for sure.
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Pillar of the Community
United States
705 Posts |
I noticed the obligation on this instrument states, "THE ... Company WILL PAY TO THE BEARER THREE DOLLARS In the circulating medium of Louisiana when presented in sums OF FIVE DOLLARS." How was that supposed to work? Did the bearer have to present at least fifteen dollars?
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Pillar of the Community
United States
7641 Posts |
Quote:
How was that supposed to work? To redeem for $ the redemption amount minimum was $5 worth of like script. You would usually do this at a station ticketing office. "Redeemable for all dues" means that the note was always redeemable for its face value towards rail travel, fees, shipping charges and purchases from the issuer. |
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Pillar of the Community
United States
1940 Posts |
found one at denleys of boston---selling for 135$---obsolete note---could not tell if it was an inverted train---https://www.denlys.com/inventory/viewimage.asp?ID=OB24683
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Pillar of the Community
United States
705 Posts |
Quote:
To redeem for $ the redemption amount minimum was $5 worth of like script. That sounds like a reasonable interpretation but it says "in sums of five dollars" and not "in sums of at least five dollars" or something similar. If I presented two three-dollar notes, could the railroad company theoretically respond with, "That is not a sum of five dollars and we will not pay." Did the railroad company issue one dollar and/or two dollar notes? I have seen similar restrictions on other scrip and I sometimes wonder if it was some sort of scheme to avoid redemption. |
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Pillar of the Community
United States
7641 Posts |
The one Denly has does not appear to have an inverted overprint.
Most of this type of scrip was issued in denominations of 1, 2 and 3$ denominations.
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Pillar of the Community
United States
827 Posts |
Heritage has sold a handful of these $3 notes over the years and I found three with inverted locomotives like your. Not one was identified as an invert. I didn't dig too deep, but the VS&T RR also issued other denominations with green tints. It would be interesting to see if any of those have inverts.
Edited by GregAlex
02/25/2024 04:46 am
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Bedrock of the Community
United States
25643 Posts |
Quote:
could not tell if it was an inverted train Not inverted Inordinately fascinated by bits of metal with strange markings and figures
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Pillar of the Community
United States
959 Posts |
Thanks for the updates, all. This note is probably not particularly valuable, but it's interesting. My grandfather gave me about 20 Confederate and Civil War era notes about 50 years ago. The only one I've considered TPG on is a very nice Confederate $50 with Jefferson Davis, but it's probably not worth the expense. |
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Posted 09/21/2023 01:42 am
