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This is a 1824 #2322 five-dollar obsolete banknote. Sussex Bankssà

$375

Ships for $4.49

Posted about 2 months ago in Fall River, MA

Condition: Used (normal wear)

Listed in categories: Collectibles & Art - Collectibles - Coins & Money

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This is a 1824 #2322 five-dollar obsolete banknote. Sussex Bankssà

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Details

Composition: Paper
Grade: Ungraded
Circulated: Circulated

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Description

This is an obsolete banknote issued by the Sussex Bank in Newton, New Jersey, dated May 1, 1824. Obsolete banknotes were produced by state-chartered banks in the United States from the early 19th century until the National Banking Act of 1863 created a uniform national currency. These notes are called 'obsolete' because many of the issuing banks failed or the notes were heavily discounted. Sussex Bank was one of many local banks that issued its own currency to facilitate commerce in the region. The note features the signatures of bank officials and an engraving of an eagle, a common motif on American currency of the time. The value of obsolete banknotes today depends on their rarity, condition, and historical significance.

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