{"product_id":"1850-cochituate-bank-5-dollar-banknote-fine-f-grade-massachusetts-obsolete-currency-1850-boston-ma-five-dollars-obsolete-note-copy-1","title":"1864 Union Bank 5 Dollar Counterfeit Banknote - Massachusetts Obsolete Currency - 1864 Haverhill MA Five Dollars Obsolete Counterfeit Note","description":"\u003cp\u003eThis listing is for the photographed 1864 The Union Bank 5 Dollar Haverhill MA Contemporary Counterfeit obsolete bank note. Issue date of January 1st, 1864. Hand dated and signed. The word \"counterfeit\" is handwritten twice on the obverse of the note, identifying its false origins. Most counterfeits identified from this bank feature a \"Counterfeit\" stamp to identify it rather than a handwritten note, making this note a rarer version of an identified contemporary counterfeit. This note is a contemporary counterfeit, meaning that it was produced and used as a counterfeit note during the period when the original bank was issuing this name issue of banknotes. The obverse of this note shows a vignette of Justice and Liberty allegorical figures flanking a framed portrait of a woman at the left center, and a portrait of George Washington is printed in the lower corner of the right end of the note. Very Fine (VF) grade\/condition, visible signs of wear as pictured. Stunning artwork and great piece of history.\u003c\/p\u003e\n\u003cp\u003eThe Union Bank was founded in 1849 in Haverhill, Massachusetts. It operated as a state-chartered bank, issuing paper banknotes for local circulation throughout the 1850s. In 1864 the bank gained a national charter under the National Bank Act and was then renamed The First National Bank of Haverhill.\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 beautifully engraved banknote provides insight into the fascinating free banking era and U.S. economic history, making it an excellent addition to any collection!\u003c\/p\u003e\n\u003cp\u003eThanks so much for stopping by!\u003c\/p\u003e\n\u003cp\u003e1864 Union Bank 5 Dollar Counterfeit Banknote - Massachusetts Obsolete Currency - 1864 Haverhill MA Five Dollars Obsolete Counterfeit Note\u003c\/p\u003e","brand":"Treasure Hunter Co","offers":[{"title":"Default Title","offer_id":53329883824425,"sku":"OC-MA-UB-1864-5D-CFT","price":124.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0793\/1540\/3049\/files\/cloe709-30.png?v=1783957436","url":"https:\/\/treasurehunterco.com\/hi\/products\/1850-cochituate-bank-5-dollar-banknote-fine-f-grade-massachusetts-obsolete-currency-1850-boston-ma-five-dollars-obsolete-note-copy-1","provider":"Treasure Hunter Co","version":"1.0","type":"link"}