| Author |
 Replies: 10 / Views: 1,752 |
|
|
New Member
United States
34 Posts |
I know little about currency collecting in general, and nothing whatsoever about old Confederate notes. But I've been asked to help ascertain the value - if any - of the note shown below, as well as any relevant historical data. I apologize that the photo quality isn't better. This $2 note was issued by the "Bank of West Tennessee" in Memphis, and bears the date June 21, 1861. In two places it shows what may be a handwritten serial number, "8290." The woman on the left looks to her left, while holding a pale. There is a house in the background. The man on the right looks to his right, while seated and holding a staff or cane. In the center are two cherub-like toddlers. One stands on a Confederate dollar coin, holding a dagger in his left hand and threatening the other child with a spear in his right hand. The other child is holding the second Confederate dollar coin as a shield in his left hand, while holding a sword in his right hand. A locomotive runs in the background. The word "Two" repeats along the top and bottom frame of the bill, where it has survived. The note is very fragile, and has seen serious water damage. It was saved between the pages of an old book for at least 50 years. Given its condition, I have no great expectations; but I have thus far been able to find out nothing about the history of this "Bank of West Tennessee". I doubt it could have continued in existence for very long after the date on this note. Thanks for anything you may be able to offer.   |
|
|
|
Pillar of the Community
United States
2661 Posts |
|
|
New Member
 United States
34 Posts |
Thanks for the link, Tim. I'll check them out.
|
|
Moderator
 Australia
16830 Posts |
It's not listed on the Crutch Williams site of fake Confederate notes, so I'd lean towards it being genuine. This bank isn't issued in any of my world banknote catalogues (early American notes are somewhat of a specialty item outside of America) so I can't give you a catalogue value, but I found this one for sale for $150. The sale site lists that the back of the $2 note is supposed to be plain. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
|
|
Pillar of the Community
United States
1208 Posts |
Right after the war, they sued another bank for $90k. They claimed they deposited the money, and the other bank just kept it. They won the case, however in 1871 it was overturned on appeal. Turns out that the $90k dollars deposited was in CS funds, and the money that they tried to withdrawal after the war was in US funds! The original judgement was in US funds as well. When the appeals court realized this, they dismissed the case with prejudice. Nice try on the part of West Tenn Bank! Don't you think?  Edited by ratio411
12/30/2008 7:18 pm
|
|
New Member
United States
34 Posts |
Thank you all kindly for the information. I will attempt to research further.
|
|
Rest in Peace
United States
1943 Posts |
I think the reason you are having trouble finding information is because this is not considered a confederate note. I think you will find Confederate notes are considered notes issued by the confederacy. This note is an obsolete note issued by the Bank of West Tennessee. It is listed in the Haxby reference. It is note number TN-130-G4 on page 2378 in volume 4. It was issued in the 1850's and 1860's. The date was written on the notes when they were issued and this one just happens to be at the beginning of the war. I think you will find the coins on the note are regular issue Seated Liberty dollars and not confederate dollars. According to Haxby the bank was bought by the Memphis Insurance Co. in 1860 and they continued releasing these notes. The value in Haxby is $25 in VG but the prices in this book are outdated. Still, this isn't a rare note at that price. The thing that helps it is there are collectors that collect obsolete paper money with coins pictured on them. So this one fits nicely into that. Too bad about the condition but it still is collectible. This is the type of note you see dealers sell on ebay because of the condition and to get it out to a lot of bidders that collect this type of note. Not that I am promoting ebay. Personally, I would take it to a show and walk it around. I hope this is some help. |
|
Moderator
Australia
16830 Posts |
Shows how much I pay attention to details. I didn't even notice there were coins pictured on this note!  Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
|
|
Pillar of the Community
United States
1208 Posts |
Quote:
I think the reason you are having trouble finding
information is because this is not considered a
confederate note. I was going to post the same comment, however the post stated that the coins were, in fact, Confederate, so I refrained. I don't have any books on it, and I assumedthe original poster could read the words on the coins... Which I could not read them from a picture of the note. Good call. I wouldn't consider it CSA either, unless the coins were marked as such. I am doubting that though. |
|
New Member
United States
34 Posts |
You are quite correct that I simply assumed the coins to be confederate. I do know that this note changed hands in the mid 1960s, when it was given to the present owner by an elderly spinster, who represented that it had been given to her in her childhood by her grandfather, who was a confederate veteran. She related the story that her grandfather had thought it a funny keepsake; an actual representation of something that "...was as worthless as a Confederate 2 dollar bill".
Again, thanks to you all for your information.
|
|
Rest in Peace
United States
1943 Posts |
Reti, that's a great story. Sometimes the history of a note is worth more than the note itself. Thanks.
|
| |
Replies: 10 / Views: 1,752 |
|
Posted 12/30/2008 5:40 pm
