- Product Details
- Sell to Us
- 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.
- Back: Blank.
- Cataloged as VACR7.
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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.
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