1839-41 Republic of Texas $3 Treasury Note VF-25 PMG (CR-A3)

Currency Highlights:

• $3 note issued by the Republic of Texas, Austin.
• Housed in an inert mylar currency holder by PMG.
• Graded Very Fine-25 by PMG with a comment, cancelled, which is common on all obsolete notes.
• Front: Shows a cotton plant at left, Ceres seated with agricultural tools at center, and a boy leading a horse at lower center, with bold “THREE” and ornate “3” elements.
• Back: Blank reverse, typical for the issue, with visible paper texture and common cancellation marks.
• Cataloged TXCRA3, or CR-3A by Criswell.
• Cut Cancelled.

Add this iconic Republic of Texas note to your collection—historic and highly collectible odd denominations are always in demand!

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.