1863 Bank of DeSoto, Nebraska $1.00 NE-25 Choice CU

1863 Bank of DeSoto, Nebraska $1.00 NE-25 Choice CU

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Product Details
This Obsolete Bank Note also called "Broken Bank Notes" is in Crisp Uncirculated condition was issued by the Bank of DeSoto, Nebraska in 1863.

Currency Highlights:
  • Issued by the Bank of DeSoto, Nebraska.
  • Notes will be housed in archival quality currency sleeves.
  • Graded Crisp Uncirculated.
  • Face: Depicts vignette of a female figure with child, and two workmen at center. There is a Indian scene at lower left and an oval portrait of Daniel Webster to the right.
  • Back: Intentionally left blank. Green “ONE” overprint.

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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.

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