Sunday, April 17, 2016

Infamous #8894 Bank of the United States $1000 1840 Note

D. Mortenson wrote: Hello. In 1972 I was working for this company, , our company was moving. There was a two draw safe in the basement. It had been there for years and nobody know the combination. They ask me if I want it. So I loaded in my pickup truck and took it to a lock Smith. He unlock the combination. This 1000 note was inside the safe. It was stapled to a letter dated 1932 promise to pay for equipment that he was buying. I guess he never came back. The note #8894. Please advice. Thank you. D

Nice story. It's a joke. An April Fools' Day prank? 1932 was in the height of Great Depression. Tens of millions lost their savings and their jobs. $1000 then worth many times more in today's $. You probably could buy a brand new car for less than that. Who would put $1000 of real money in a safe and forgot about it?

This is the infamous serial number 8894 reproduction printed on fake parchment. The Bank of The United States was a private bank and the United States of America was their biggest customer. Corruption and fraud were rampant and after quite a battle between President Andrew Jackson, Congress and the bank’s supporters the bank was finally put out of its misery in the 1840’s.

From the late 19th Century to the 1950’s, reproductions of Bank of the United States currency were distributed, often with an advertising message printed on the back. Since the notes are not official U.S. issues, it isn’t considered counterfeiting to reproduce them. Genuine examples of these notes are valuable (see below).

The infamous “8894” serial number comes from a firm that copied the original with the above serial number to use for advertising purposes.These notes were reproduced before Congress passed the “Hobby Protection Act” requiring the words “copy” or “Replica” on reproductions of coins or paper money. The “8894” copies today are commonly found in packages of play money along with other reproductions of private issue currency.

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