I am currently looking at an unissued bank note to purchase. However, the serial number and date has been entered but no signature was executed to make the note legal. I thought practice was to do all this at the time of issue. My concern would be the date and serial number have been added to the note more recently. I would think this would lower the value since the note may be doctored. The script writting looks to be from it's period, (caligraphic) but if forged, makes it less desirable. Does this make sence or am I too skeptical? It is definitely a choice uncirculated note otherwise.
You may want to name the country of this note, I suspect processes could be different depending on where it came from. Dave
It is most likely a remainder. Many notes were numbered and frequently dated at the time (any clerk could do that part), but not signed until needed. Then the bank went under or never issued them. They got stored away somewhere, often in uncut sheets, and eventually made their way into the collectors market. Remainders may be worth a bit less than issued notes, depending on the bank, but sometimes that the only condition you'll find them. That said, there are an awful lot of unissued New Orleans obsoletes out there. Pretty but fairly common.
I've seen a lot of unissued New Orleans notes as well Sam and they are nice, but I don't generally buy remainders. Knowing the note was signed and issued makes a big difference to me as opposed to one that never saw the light of day. I would buy a remainder only if I thought I'd never have the opportunity to buy another ofthe same type. Bruce
You do see this happen from time to time. I watched another slabbed remainder close recently that was the same as yours. It actually drew a premium over a normal remainder because it had been prepared. If I had to choose between the two I would take prepared.
In the era of handsigned notes - they were often filled out over a period of time. Even during the American Revolution notes were signed by one individual then sent somewhere else for another signer. Sometimes if they were seized by the British - they would have someone sign the notes and even sell them at a discount to ruin the colonial economy. Frankly handwriting in that era was a rather laborious effort - quills were sloppy, so that filling out serials, signatures etc might be done over a period of time.
All comments had worthy pieces of information in them, and I thank you. It will also help me make better buying decisions with my future purchases besides. Perhaps getting the complete dollar range of these notes isn't as appealing since they are so common. I wanted to collect a series that was obtainable, without having to mortgage the house again, but being too common isn't good either. I'll have to rethink this for awhile.
A word of caution on some of those common southern obsoletes - the issued notes in some cases, like Canal Bank, Citizens Bank were 99% redeemed. There are numerous instances where someone signed the notes often many years later, with ball point pens etc. With some of the South Carolina 1866-1875 era notes, they were partially signed - the people that ordered them got busted before a lot of the notes were issued.
Sorry Rusty but no picture. I did buy it but it is all repackaged and going back to the seller. It has a torn edge and I wouldn't keep it regardless. The information about serial numbers being assigned and dated but not issued, will be great help in any of my future purchases. I was never aware of that.
