1862 The State of Georgia Milledgeville 5 Dollar Obsolete Note - Uncirculated Grade - Confederate Currency - 1862 Georgia Five Dollar Note

This listing is for the photographed 1862 The State of Georgia 5 Dollar Obsolete Banknote. Printed date of January 15th, 1862, issued by the Confederacy in Georgia during the Civil War. Printed using the woodcut technique, the cheaper alternative to the professional engraving used on other banknotes. This note was authentically hand signed as identified by the rusted color of the ink used for the signature, which is common of hand signed signatures on obsolete banknotes. Center obverse of this note depicts a portrait of a man reading a book. The reverse of this note has a printed stamp of the treasury of Georgia, dated 1862, adding to the note's authenticity! Uncirculated (UNC) grade/condition, crisp note! Amazing find and great 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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1862 The State of Georgia Milledgeville 5 Dollar Obsolete Note - Uncirculated Grade - Confederate Currency - 1862 Georgia Five Dollar Note