This listing is for the photographed 1833 Franklin Bank 2 Dollar obsolete bank note. Issued by the bank in September of 1833. Vignette of a Ben Franklin portrait on the right end of note, Lady Justice vignette on the left end. Steam-powered carriage and boat vignettes in the right and left center, respectively. The center vignette depicts several goddesses with their identifying objects. Circulated note with signs of wear, as depicted in photos. Great piece of history.
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 beautifully designed banknote provides insight into the fascinating history of the U.S. economy, making it an excellent addition to any collection!
Thanks so much for stopping by!
1833 Franklin Bank 2 Dollar Boston Banknote - Massachusetts Obsolete Currency - Pre-Civil War Banknote - 1833 Two Dollar Boston MA Bank Note