Issued by the State of Georgia at Milledgeville, GA. and dated January 1, 1863. This note is cataloged as Criswell-12 with a Rarity-3 with only 200 to 500 known.
- Issued by the State of Georgia at Milledgeville, Georgia.
- Notes will be housed in archival quality currency sleeves.
- Graded Extra Fine.
- Face: Features a green Georgia Treasury Seal with a depiction of a steam locomotive.
- Back: Intentionally left blank.
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Obsolete Bank Notes are also called "Broken Bank Notes". In the days prior to the Federal Reserve, any bank could produce currency for use by the clients and members of the community. Unfortunately, not many safeguards were taken to ensure that banks stood behind the currency they were producing and circulating. Banks, more often than not, failed and their currency was rendered worthless. As a result, most bank notes of the period did not trade at their full retail value. Oftentimes notes were worth fifty cents on the dollar because the public expected the banks to fail.