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My US Bank Note Type Set

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 Posted 04/12/2021  10:19 am  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
Sadly there are "bullies" on other forums as well...

Since I was "bullied" I was "forced" to get a missing fractional.

As you all know I like packages that are stamped.



And what was in the stamped package? Today's note is the 2nd issue 50 cent. The Friedberg number is F-1316 as the surchages of 18 and 63 are on the reverse of the note. The 50 cent was the least printed of the 2nd series with only 12 million notes printed.


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 Posted 04/12/2021  10:22 am  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
With the 50 cent, my 2nd series of fractionals is completed.







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 Posted 04/13/2021  7:07 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
Ordered my most expensive note so far

And it's been shipped
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 Posted 04/13/2021  7:24 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Standing by!
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 Posted 04/16/2021  4:34 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
I had hoped to pick up the below at the Melville coin show, but there wasn't one in my price range or that I liked. So I ended up ordering the below from Vern Potter. I really like buying from Vern, but sadly none of his packages come with nice stamps, so what did I get?

Today's note is a Treasury or Coin note, these were only printed in series 1890 and 1891. While the 1890 and 1891 notes look somewhat the same, the differences are mostly on the reverse, the 1890 is much rarer and costly. So this is an 1891 Stanton note. Stanton was also on the 4th issue 50 cent (you can read about him a few pages back). What we are going to learn is about the boondoggle of coin notes.
But before we get to how these notes were used as a way to help the silver mines of the west, we need to discuss a big misconception about 1891 $1 bills. They are not star notes. Yes, every serial number does end with a solid red star. However, that does not signify that they are star replacement notes. The Bruce Roberts signature combination was only used in 1898; that is the least year that 1891 $1 bills were printed. Replacement star notes were not incorporated until 1910. Replacement stars are also hollow, not solid. So the star at the end of your serial number does not add any value. They are all like that. The star is just a design element.

So why were Coin Notes created?

As the US Mint needed to buy silver bullion to create Morgan's legislation was created in 7/14/1890 which created a note to pay for the bullion but it did not specify the payment be in silver. The legislation only stated that the bullion be paid in "coin" (hence the name of the note). With help from Treasury officials (and probably some clandestine kick backs), silver sellers turned in bullion at a high artificial price, received the coin notes as payment and used them to pick up gold coin and a tidy profit. Capitalism!

But its still a cool note and I do also blame Captain Coffee as he has one and I wanted one because of him.

One thing about this note is that is larger than all my other large notes and won't fit in the top loaders, so I have it in a mylar sleeve.



Edited by hfjacinto
04/17/2021 08:23 am
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 Posted 04/16/2021  4:59 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Nice example, congrats!
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 Posted 04/16/2021  5:25 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
Thanks coin frog!! I was saving up for the educational buy this one showed up and I like the story of the note.
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 Posted 04/16/2021  6:53 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Stanton was Lincoln's Secretary of War and a great unsung hero of the Civil War. His ingenious delivery innovations kept federal troops supplied with food, clothing, ammunition, armor and critical medical support deep into Southern territory throughout the war.
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 Posted 04/29/2021  5:24 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
RANT ON

I really like packages with stamps and I'm not getting them lately. I'm SAD ;
RANT TWO

Look I like some of you (not all), but a few of you have grown on me, and while I like all the business Allen's is getting from you people. STOP buying the notes I want!! Look buy all the others, just leave the ones I want to me ;



So now that I ranted, what did I get? Well I ended up getting 2 notes. Today you get one and maybe tomorrow you get another (need to get that post count up, I read if you have a high post count you get free hot dogs #127860; we need a hot dog emoji).

Today's note is a Continental Currency. Like a few of you, I collect currency as a way to experience history. I'm also looking to eventually (it won't happen as a few are so far above what I would pay) have a type set of the major currency types in the US. So you get today's note.

Continental currency was minted colonial paper currency issued from 1775 to 1779 to finance the cost of the Revolutionary war. The first currency was issued in 1775, the Continental Congress issued $2 million in paper bills of credit. The paper notes represented the colonies' first significant currency distribution and bore the images of Revolutionary soldiers. The issue was that Continentals were not backed by any tangible asset; they were supposed to hold their value on the Continental Congress's expectation of future tax revenues, which, given that they were in the midst of a war, created more uncertainty than the new currency could withstand.

The Revolutionaries continued printing money and ultimately issued more than $200 million in rebel currency. Within five years, continentals suffered significant depreciation and eventually were practically worthless.

Congress stopped issuing continentals in 1779. By 1785, the continental currency was so remarkably worthless that people just stopped accepting the bills as payment for goods or trades. Economic worries plagued the young nation as its leaders faced the challenges of paying back war debts.

To stabilize the economy and correct the country's financial troubles, Alexander Hamilton proposed an idea for a national bank. The national bank would issue paper money and handle the government's tax revenues and debts, among other functions. His idea came to fruition in Dec. 1791 as the Bank of the United States opened in Philadelphia.

The creation of the national bank led to the adoption of the U.S. dollar (USD) during the following year. The invention of the U.S. Mint, the federal monetary system, and the U.S. Coinage Act of 1792 all quickly replaced the paper continentals. These systems have since evolved to become the nation's contemporary money system, still in use today. Although the country adopted the USD, it initially circulated only as coins and did not return to using paper currency until 1861.

This note has a date of 9/26/1778 and was part of a total $75,001,080 payable in Spanish milled dollars, or the equivalent in gold or silver issued. This emission was the first issue of the Continental $50 and $60 denominations. The entire series has nature prints on the reverse as well as new typeset ornamental borders. By the date of this issue the Congress officially valued the currency at $4.00 in Continental dollars for $1 in specie. Printed by Hall and Sellers in Philadelphia. The paper, made at Ivy Mills in Chester County, Pennsylvania, contained blue fibers and mica flakes. Detector bills were printed on blue paper. Denominations printed were the: $5, $7, $8, $20, $30, $40, $50 and $60.

The $8 has the serial numbering and one signature in red ink, the other signature in brown ink. The emblem on the front shows a harp with thirteen strings with the motto: "Majora minoribus consonant" (The larger are in harmony with the smaller). The nature print on the back is of three sage leaves. Paper contains blue threads and mica flakes.

Thanks for looking and reading.




Edited by hfjacinto
04/29/2021 5:30 pm
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 Posted 04/29/2021  5:28 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Nice notes and background info!
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 Posted 04/29/2021  7:08 pm  Show Profile   Bookmark this reply Add captaincoffee to your friends list Get a Link to this Reply
I do kind of wish my Stanton $1 was a Bruce note. The guy is amazing, and I'd like to start picking up notes with his signature when possible. I'll just copy/paste some of the words from this CCF post http://www.coincommunity.com/forum/...IC_ID=393168

Blanche Bruce was born into slavery in Virginia in 1841. He was the first African American to serve a full term in the US Senate, representing Mississippi from 1875 to 1881. He served as Register of the Treasury from 1881 to 1885 and again from 1897 to 1898. In 1880, at the Republican National Convention in Chicago, he became the first African American to win any votes for national office by either major party, finishing fifth in a crowded vice-presidential field to Chester A. Arthur.

This guy must have been truly amazing to accomplish all this at a time like that.
Edited by captaincoffee
04/29/2021 7:09 pm
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