So bills from before 1950 are worth more than bills created later. Condition Also, the older a bill is, the more valuable it becomes. Serial number range The further apart each digit is in a serial number, the more desirable it becomes.4, 1841, not long after the $1,000 notes were issued. When the charter expired in 1836, it was reincarnated as a commercial bank under the laws of Pennsylvania. It was an issue in the 1832 election, with President Andrew Jackson so vehement in his opposition that six months after his second inauguration in March of 1833 he announced that he would no longer use it, withdrew all federal funds, and forbade further deposits. It operated in a similar matter and engendered the same political acrimony. The financial difficulties of the War of 1812 led to the charter of the Second Bank of the United States in 1816. When the charter expired in 1811, it went out of business. The bank was controversial politically, with Jeffersonian agrarian interests firmly against it. Congress gave it a 20-year charter, under which it conducted both private and government business. The original Bank of the United States, was a national central bank that was established in 1791 under a proposal by Alexander Hamilton as a place to keep federal funds and be a government fiscal agent. A vignette of the bank building is in its center with six portrait vignettes - David Rittenhouse, William Penn, and Thomas Paine at the left edges and Robert Fulton, Benjamin Franklin, and Robert Morris on the right.ĭespite the grand title, the “Bank of the United States” was a private bank. The original note was printed by Draper, Toppan, Longacre & Company of Philadelphia and New York. Among others, it was used in promotions in cereal boxes, by check printers, by the Longines Symphonette Society, and for sale with similar fakes in packs by souvenir sellers. The fake, with its tell-tale crisp, fake parchment paper, was produced in enormous quantities in the 1960s, well before the Hobby Protection Act of 1974 would have required the word COPY to be printed on it. What’s it worth?” When we would shock the caller with the response, “It’s serial number is 8894, isn’t it, and if so, it’s worthless.” The disappointment, and sometimes even anger, was palpable. In the days before the internet supplanted dealers as the public’s go-to source for valuations, it was rare for a week to go by without at least one phone call that started, “I have a $1,000 bill from 1840. The value of a note numbered 8894 is nothing, because that is the serial number of one of the most common fakes in history. The note was issued by the Philadelphia branch of the bank. It was in Paper Money Guaranty Choice Uncirculated 63 condition. That was the price paid by the winning bidder in a Stack’s Bowers Galleries Collectors Choice Online auction on July 29 for a Bank of the United States $1,000 note dated Dec. In this case, the difference is between “8893” and “8894,” and that difference is $1,920. Sometimes a single digit in a serial number can make a difference of thousands of dollars, and not because it is fancy in any way, shape, or form.
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