This listing is for the photographed 1850s Bank of Augusta $5 blank banknote. Beautiful vignettes of goddesses are displayed on the left end, lower center, and upper center. This note was never circulated during the banks operation, making it an excellent addition to any collection.
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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1850s Bank of Augusta 5 Dollar Banknote - Blank Note - Georgia Obsolete Currency - 1850s n.d. Five Dollar Georgia Blank Note