1864 $5 Bryant & Strattons National College Bank PMG-15 (Rmdr)
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Currency Highlights:
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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 50 cents on the dollar because the public expected the banks to fail.
Absolutely beautiful $5 remainder from the Bryant & Strattons National College Bank - New York, NY. Note has no comments on the holder and shows extremely nice!
Currency Highlights:
- Note is housed in archival quality currency holder by PMG.
- Graded Choice Fine 15 by PMG.
- Five dollars denomination.
- Bryant & Strattons National College Bank - New York, NY
- Back: Blank.
- Remainder note.
Inspect the newest addition to your collection with ease by adding a magnifier to your order.
Add this interesting note to your cart today!
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 50 cents on the dollar because the public expected the banks to fail.
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