Coin Community Family of Web Sites
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Username:
Password:
Save Password
Forgot your Password?


Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

1902 Series $5.00 Banknote . Washed?

First Page
Showing last 15 replies.
 
To participate in the forum you must log in or register.
Author Previous TopicReplies: 21 / Views: 993Next Topic Page 2 of 2
Pillar of the Community
United States
4182 Posts
 Posted 06/21/2021  6:20 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
Cool! I saved you as a seller! Good luck!
Valued Member
United States
58 Posts
 Posted 06/22/2021  07:51 am  Show Profile   Bookmark this reply Add CoolBreeze to your friends list Get a Link to this Reply
Captaincoffee, these signatures will typically not show signs of washing because they are engraved signatures, not hand signed or stamped. Basically you could wash it multiple times and they would probably still appear bold. The note may not have been washed recently but it could have been long ago. Many large size notes were washed in the 80's and 90's and were left with a web like folding pattern. The back side of the note shows considerable circulation but the note appears exceptionally bright. That is sometimes a sign a note could have been washed long ago and then stored. Can we say with certainty, no, but I wouldn't discount the possibility. In my opinion this note may have been washed long ago. If submitted for grading I don't think this note will earn an EPQ even though it appears bright for the grade.
Valued Member
United States
469 Posts
 Posted 06/22/2021  09:54 am  Show Profile   Bookmark this reply Add captaincoffee to your friends list Get a Link to this Reply
CoolBreeze, you are correct. I was thinking of the gall ink and stamped signatures. However, it got me thinking about whether there was a hard switch or each bank did what they wanted. My book just has a general comment that signatures were signed, stamped, or engraved, and I haven't been able to find any more information online. Are you aware of a resource that has more details?
Valued Member
United States
58 Posts
 Posted 06/22/2021  3:07 pm  Show Profile   Bookmark this reply Add CoolBreeze to your friends list Get a Link to this Reply
Captaincoffee, The best resource for learning details about nationals is United States Large Size National Bank Notes by Peter Huntoon. A lot of the nuances concerning nationals is in that book.

To expand on the previous topic. Many collectors have heard you want to avoid washed notes. This is kind of a half truth within our hobby. The notes you want to avoid are the ones washed with strong detergents and were scrubbed clean. These notes show substantial ink loss and a worn away look. Avoid may be too strong a word. You don't want to pay higher grade or original paper prices for these kinds of notes. On the flip side many notes were washed long ago and remain perfectly fine collectibles. They show clear signs of heavy circulation but still bright in appearance with no substantial signs of ink loss or rubbing. These notes make great collectibles. The types of notes where this is most noticeable is the 1914 FRN red seal series. A note from this series washed with a strong detergent and rubbed will absolutely ruin the red seal and thus the note. However if it was washed with a mild detergent and not scrubbed the seal will lighten some, but it still remains a viable collectible. Both notes were washed, but one was ruined and the other still makes a fine collectible. So while many notes were washed long ago it's how a note was treated that truly matters.
Pillar of the Community
United States
3371 Posts
 Posted 06/22/2021  3:38 pm  Show Profile   Bookmark this reply Add SteveInTampa to your friends list Get a Link to this Reply
The BEP went through a period of time around 1910 where they washed circulating notes at the bureau. They reportedly could clean up to 80,000 notes a day. The paper money was sandwiched between two canvas belts and was run though very hot water and a mild detergent to extend the life of the notes.


Moderator
Learn More...
United States
104754 Posts
Bedrock of the Community
Learn More...
United States
61514 Posts
 Posted 06/22/2021  3:41 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Thanks for that, Steve. I was unaware of that.
New Member
United States
44 Posts
 Posted 06/23/2021  11:06 pm  Show Profile   Bookmark this reply Add Shenandoah1 to your friends list Get a Link to this Reply
Thanks again to all who have replied. I was delayed in getting the note listed on ebay the other night, but it is up now for anyone who is interested.
Thanks!
New Member
United States
44 Posts
 Posted 06/23/2021  11:45 pm  Show Profile   Bookmark this reply Add Shenandoah1 to your friends list Get a Link to this Reply
hfjacinto, thanks!
Valued Member
United States
58 Posts
 Posted 06/24/2021  02:50 am  Show Profile   Bookmark this reply Add CoolBreeze to your friends list Get a Link to this Reply
Those are some cool pictures Steve- first I have seen demonstrating the process.
Pillar of the Community
United States
3371 Posts
 Posted 06/24/2021  08:04 am  Show Profile   Bookmark this reply Add SteveInTampa to your friends list Get a Link to this Reply
Link to article about the BEP Laundry- https://www.atlasobscura.com/places...ment-laundry
Moderator
Learn More...
United States
104754 Posts
 Posted 06/24/2021  10:59 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Link to article about the BEP Laundry
Thank you!
Bedrock of the Community
Learn More...
United States
61514 Posts
 Posted 06/24/2021  11:23 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Yes, thanks indeed!
Pillar of the Community
United States
888 Posts
 Posted 06/24/2021  9:16 pm  Show Profile   Bookmark this reply Add suipakpaikungfu to your friends list Get a Link to this Reply
HMM, laundered money? Sounds fishy!!!!
Valued Member
United States
58 Posts
 Posted 06/25/2021  12:09 am  Show Profile   Bookmark this reply Add CoolBreeze to your friends list Get a Link to this Reply
Saving 250K a year in production costs means the machine basically paid for itself in it's first week of use.
Page 2 of 2   Previous TopicReplies: 21 / Views: 993Next Topic  
First Page
Showing last 15 replies.
 
To participate in the forum you must log in or register.





Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2021 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2021 Coin Community Forums
It took 0.38 seconds to rattle this change. Powered By: Snitz Forums 2000 Version 3.4.05