Posted 04/04/2021 10:37 am
Mark,
WOW
I live close by, if you ever want to show those, I would love to see them.
I agree with Wheat Back, they should not be broken up. Especially the bundle.
Ok a little about the notes. From 1700 to 1862 banks were allowed to print there own notes. Most notes were printed at 2-3 bank printers (usually American Banknote Company (ABC) or National BankNote Company (NBC)).
The notes were printed and then signed when they were ready to be used. So for example you went to Sussex Bank, made a deposit in Specie (coin) and when you wanted to take out money you could have been given a bank note which you could spend. BUT since the note was only as good as the reputation of the bank, it was either worth full value or a % of its written value. I don't specifically about the Sussex Bank, but considering the large amount of remainders, they might have printed a lot of notes (which may mean that they weren't worth full value).
And since the only way to get the specie back was to present the note to the bank in which it was canceled, the farther away from the bank the less the note was generally worth.
All of this stopped when the federal government started taxing the bank notes and they eventually died out. Replaced with US National Currency which was backed by the full faith of the US Government.
The notes you have are collectible but have no real monetary value. The below is still worth $20, I can go to a bank (which wouldn't be smart) and deposit it and get $20.
Even with the advent of small notes, the US Currency was still around until all charters where canceled in the 1930's.
As to "broken bank" notes what you showed, many banks also issued those (these are mine)
WOW
I live close by, if you ever want to show those, I would love to see them.
I agree with Wheat Back, they should not be broken up. Especially the bundle.
Ok a little about the notes. From 1700 to 1862 banks were allowed to print there own notes. Most notes were printed at 2-3 bank printers (usually American Banknote Company (ABC) or National BankNote Company (NBC)).
The notes were printed and then signed when they were ready to be used. So for example you went to Sussex Bank, made a deposit in Specie (coin) and when you wanted to take out money you could have been given a bank note which you could spend. BUT since the note was only as good as the reputation of the bank, it was either worth full value or a % of its written value. I don't specifically about the Sussex Bank, but considering the large amount of remainders, they might have printed a lot of notes (which may mean that they weren't worth full value).
And since the only way to get the specie back was to present the note to the bank in which it was canceled, the farther away from the bank the less the note was generally worth.
All of this stopped when the federal government started taxing the bank notes and they eventually died out. Replaced with US National Currency which was backed by the full faith of the US Government.
The notes you have are collectible but have no real monetary value. The below is still worth $20, I can go to a bank (which wouldn't be smart) and deposit it and get $20.
Even with the advent of small notes, the US Currency was still around until all charters where canceled in the 1930's.
As to "broken bank" notes what you showed, many banks also issued those (these are mine)
. It's $20 from Norwalk, I have two from New York and one has a printing error, the arched date left of Jackson portrait hits something else that was printed in that area. Probably not a big deal though. I will put up a different post with this bills and a few other errors that I have including a weird $50 dollar bill from I think 1985.
