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Currency Appraisal and Old Paper Money Dealer
Greg Davis

Obsolete Money and Pre-Federal Paper Money Values

Obsolete Currency is generally defined as currency that doesn't retain value. That is, the bank that once stood behind the currency is long gone and the cash is non-redeemable. Prior to the Federal System of banking we had a loose banking system regulated by the states. This time period was roughly from day one to the start of the Civil war. Banks could apply for a state charter and begin issuing money under much looser standards than would eventually be the case. These banks were prone to issue currency that wasn't secured by anything. Obsolete money is avidly collected today by state or by theme etc.
Western state obsolete paper money can be rare and can bring high values especially if it's Mormon related.

Obsolete Paper Money
An 1860 $20.00 Obsolete note from the State bank of Florida

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