1 Dollar New England Commercial Bank - Rhode Island
© Mattsman60
Features
| Issuer |
United States
 |
|---|---|
| Issuing bank | New England Commercial Bank |
| Period |
Federal republic (1776-date)
|
| Type | Local banknotes |
| Years | 1850-1860 |
| Value | 1 Dollar (1 USD) |
| Currency | Dollar (1785-date) |
| Composition | Paper |
| Size | 176 × 71 mm |
| Shape | Rectangular |
| Number | N# 411131 |
| References | Haxbyl# RI155-16a James A. Haxby; 1988. Standard Catalog Of United States Obsolete Bank Notes (1782-1866). Krause Publications (4 volumes). |
Obverse
Numeral 1 in all 4 corners, left vignette Commerce with harvested goods sitting on a beach, Center Vignette, Commerce with caduceus at seaside, right vignette a boat sitting next to a waterway.
Scripts: Latin, Latin (cursive)
Lettering:
1 ONE DOLLAR 1
1 1
THE PRESIDENT, DIRECTORS & CO., OF
THE NEW ENGLAND COMMERCIAL BANK
Will pay ONE DOLLAR on demand
ONE
to the bearer NEWPORT____________18___
NEW ENGLAND BANK NOTE CO., BOSTON.
1 _____________ Cash.ʳ______________Pres.ᵗ 1
RHODE ISLAND
Reverse
Lettering: ENO
Comments
The New England Commercial Bank is a bank from Rhode Island that was active in the 1860s.
State-chartered banks and other private institutions provided the majority of currency known as obsolete notes that allowed the United States to grow from 1792 to 1866. This happened because the American government was unable to provide sufficient coinage to meet the nation’s economic needs. Since the Federal government refused to issue paper money, except in emergencies, and state governments were forbidden from doing so, banks and private institutions began producing their own paper currency to meet the needs of local commerce.
See also
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| Date | VG | F | VF | XF | AU | UNC | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Undetermined | |||||||||||||||
| ND (1850-1860) | Remainder | ||||||||||||||
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Numista Rarity index: 94
This index is based on the data of Numista members collections. It ranges from 0 to 100, 0 meaning a very common coin or banknote and 100 meaning a rare coin or banknote among Numista members.
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