1862 Virginia Treasury Note $50.00 AU
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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.
This note was issued at Richmond, VA on October 15, 1862. It features a portrait of Governor Mason as well as Commerce, Navigation and Harvest in the center. The Almost Uncirculated condition only adds to this already very attractive note!
Currency Highlights:
- Notes will be housed in archival quality currency sleeve.
- Almost Uncirculated condition.
- Fifty dollars denomination.
- Face: Vignette of Governor Mason to the left. A vignette of Commerce, Navigation and Harvest to the right. Red printing on the face.
- Back: Blank.
- Cataloged as VACR7.
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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