{"product_id":"1800s-merchants-and-planters-bank-1-dollar-banknote-georgia-obsolete-currency-savannah-ga-1850s-undated-one-dollar-georgia-bank-note-copy-1","title":"RARE 1862 Manufacturers' Bank 1 Dollar Obsolete Banknote - Rare Printed Reverse - Macon, GA - 1862 One Dollar Georgia Bank Note","description":"\u003cp\u003eThis listing is for the photographed 1862 Manufacturers' Bank of Macon 1 Dollar Obsolete Banknote. This note is a very early issue produced by the bank, and notes of this variety are scarcely seen on the market. The note was issued on December 16th, 1862. One of the most interesting traits of this note is its printed reverse, which shows that the note was printed on the back of an uncut sheet of a different issue of obsolete banknotes, likely left over from a failed bank or a previous issue from this bank. The recycled nature of this note shows the economic strain put on banks in the Confederacy during the Civil War. A vignette of a sailing steamship is featured at the center of the obverse of this note. Very Good (VG) grade\/condition, many visible folds and other signs of circulation. Great, rare note, making it a sought-after find in any condition!\u003c\/p\u003e\n\u003cp\u003eThe Manufacturers' Bank was established in the city of Macon, Georgia under an authorization from the state legislature that was granted in 1850. The legislature ruled that the bank could only begin operations once they gained a capital stock of $250,000. Because of a lack of capital stakeholders, the bank was not able to actually open its doors until 1852. It was located at the corner of Second and Cherry Street in downtown Macon. The banks rough start did not seem to hinder their operations once they opened, as by the mid-1850s the bank had grown into a staple of the city, becoming one of the most trustworthy financial institutions among locals. The bank began issuing banknotes shortly after they were incorporated, and these notes would soon become the primary mode of currency used among Macon locals for all transactions within the city. Many newspaper advertisements published during this time by local merchants and storefronts would specifically request to be paid in Manufacturers banknotes, showing the success and reputability achieved by the bank during its operation. The bank entered the following decade continuing its operations throughout the Civil War, at times having to become thrifty with their operations, as seen with the use of recycled uncut banknote sheets to print new issues of notes, such as this note. The bank closed by the end of the war in 1865, likely as a result of the economic instability caused by the conflict. \u003c\/p\u003e\n\u003cp\u003eObsolete 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.\u003c\/p\u003e\n\u003cp\u003eThis rarer denomination obsolete bank note is a great piece of Georgia history and makes for an excellent addition to any collection!\u003c\/p\u003e\n\u003cp\u003eThanks so much for stopping by!\u003c\/p\u003e\n\u003cp\u003eRARE 1862 Manufacturers' Bank 1 Dollar Obsolete Banknote - Rare Printed Reverse - Macon, GA - 1862 One Dollar Georgia Bank Note\u003c\/p\u003e","brand":"Treasure Hunter Co","offers":[{"title":"Default Title","offer_id":53455622537513,"sku":"OC-GA-MB-1862-1D-VG","price":94.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0793\/1540\/3049\/files\/50.jpg?v=1787932866","url":"https:\/\/treasurehunterco.com\/el\/products\/1800s-merchants-and-planters-bank-1-dollar-banknote-georgia-obsolete-currency-savannah-ga-1850s-undated-one-dollar-georgia-bank-note-copy-1","provider":"Treasure Hunter Co","version":"1.0","type":"link"}