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Obsolete and broken-bank notes: pretty paper from banks that closed
Obsolete notes (broken-bank notes) are private and state-bank paper from before national bank notes took over in the 1860s. Many genuine notes are common remainders. They are not Confederate notes and not national bank notes. Pretty is not the same as scarce.
An obsolete note (collectors also say broken-bank note) is paper issued by a state-chartered or private bank, mostly 1790s through the 1860s, before the National Bank Act replaced that system. The bank in the title often failed, merged, or was wound up — “broken.” The note is a relic of that bank, not a Federal Reserve note.
Engraved goddesses, eagles, trains, and red protectors. They look rich. A lot of them are remainders — leftover unsigned or leftover stock that dealers have sold for a century. What a banknote is. Colonial and pre-Mint money.
What this is not
Not a Confederate note. Not a national bank note (those say National Bank and have a charter number). Not a gold certificate. If the note names a town bank and a state, and it does not say United States or Confederate States, start here.
Common vs the ones we pull
Common remainders from well-known banks: a modest collector bid. Issued, signed, circulated notes from scarce banks can be more. Modern reprints and “replica” packs from gift shops: nothing. We look at paper, signatures, and whether it was ever issued.
Extra history
Before the Civil War the US did not have a single national paper currency. Every bank issued its own. Counterfeits were a daily problem. Greenbacks and then nationals ended that era. Greenbacks to Federal Reserve notes.
What a shop pays
Common remainder: a type bid. Issued scarce bank: we look it up. Souvenir copy: zero. Do not iron them or tape the splits. Don’t clean applies to paper too.
People also ask
Is a broken-bank note worthless because the bank failed? As spending money, yes. As a collectible, no — that is the whole hobby.
Is it a Confederate bill? Only if it says Confederate States. Most obsolete notes do not.
Can I cash it? No.
Continue in the coin and money library. Related visitor guides: for shop visitors.
If it has a charter number, it may be a national bank note.