Connecticut East Haddam 1860's $1 Remainder Bank of New England CT-110 G16c UNC

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  • Description:

    The Connecticut East Haddam 1860s $1 Remainder Note from the Bank of New England, cataloged as CT-110 G16c, is a fascinating example of obsolete American currency from the pre-National Bank era. As a remainder note, it was printed but never issued into circulation, retaining its full design and structure without signatures, serial numbers, or cancellation marks. These notes are highly sought after by collectors of obsolete banknotes due to their historical significance, detailed artistry, and preserved condition. This particular note, graded as Uncirculated (UNC), represents the highest preservation level, meaning it retains crisp paper quality, vibrant ink contrast, and sharp design definition throughout the entire piece.

    Issued by the Bank of New England in East Haddam, Connecticut, this note dates to the 1860s, a turbulent time in U.S. financial history marked by the Civil War and significant shifts in the national banking structure. Prior to the establishment of a centralized banking system, individual state-chartered banks issued their own paper money, each backed by varying reserves and public confidence. The Bank of New England was one such institution, operating under Connecticut state laws and participating in the complex and sometimes chaotic monetary landscape of the antebellum and Civil War periods. Remainder notes like this one were typically printed in bulk and stored at the bank for future issuance, though many were never circulated due to the bank’s closure or transition during the creation of the National Bank system in the 1860s.

    The design of this $1 remainder note is ornate and quintessentially 19th century in its aesthetic. The upper central vignette features a seated female allegorical figure representing Liberty or Commerce, draped in flowing classical robes. She holds a fasces in one hand and a pole bearing a liberty cap in the other—iconography rich with Revolutionary symbolism. To her side is a shield emblazoned with the stars and stripes, and an American eagle perched behind her. This patriotic tableau reflects the values of the issuing institution and the cultural environment of the time, as banks often used nationalistic imagery to inspire trust and confidence in their paper money.

    On the left side of the note is a finely rendered vignette of a bearded man, likely a representation of a classical philosopher or perhaps an allegory of knowledge or governance. The right side hosts a similar portrait, possibly depicting a female allegory such as Justice or Agriculture, depending on the specific plate variant. The portraits are framed in ornate oval cartouches, surrounded by engraved scrollwork and flourishes that showcase the exceptional skill of 19th-century banknote engravers, many of whom worked for firms like the American Bank Note Company or Rawdon, Wright, Hatch & Edson.

    The denomination is prominently displayed in the center with the large numeral “1” and the text “One Dollar” printed in bold type across the lower portion. The bank title “Bank of New England” and its location “East Haddam, Conn.” are placed across the upper part of the note, in elaborate, serifed script. In typical remainder format, the areas reserved for cashier and president signatures, as well as the serial number line, are blank, indicating the note was never placed into official circulation. The absence of cancellation marks or handwritten inscriptions enhances the aesthetic purity and collectible value of the piece.

    In terms of printing technique, this note is a product of intaglio engraving, a method that produces raised ink lines by impressing a metal plate into the paper. This technique not only enhances durability but also creates a tactile surface that helps deter counterfeiting. The back of the note is blank, as was standard for most obsolete currency of the era. The paper is likely rag-based, made from cotton and linen fibers, giving it a thicker and more durable texture than modern wood pulp paper. In UNC condition, the note is completely free from folds, creases, stains, or wear, and its edges are sharp and unfrayed—making it highly desirable for condition-sensitive collectors.

    Although many obsolete notes were issued in large quantities, the survival of unissued remainders in perfect condition is far less common. Notes from small-town banks like the one in East Haddam tend to be especially scarce, given the limited area of circulation and the often short lifespan of such institutions. The fact that this note survived unissued and unblemished speaks to the care with which it was preserved, likely having been stored in a bank vault or acquired directly by collectors at the time of the bank’s dissolution or charter expiration.

    The CT-110 G16c designation comes from the Haxby catalog, the standard reference for obsolete United States currency. The “CT” prefix refers to the state of Connecticut, while “110” denotes the Bank of New England in East Haddam. The “G16c” is the specific variety of the $1 denomination for this bank, indicating its design type and remainder status. These catalog numbers are crucial for collectors and dealers in identifying, cataloging, and valuing notes within the vast universe of obsolete currency.

    In terms of market value, UNC remainder notes from small Connecticut banks typically range from $150 to $300, depending on aesthetic appeal, paper color, engraving clarity, and historical demand. The value can climb for notes with exceptional visual contrast or strong historical connections. The intricate engraving and well-balanced layout of this particular note, combined with its rare condition and limited issuance, give it a strong presence in any specialized collection of New England currency or Civil War-era financial instruments.

    Today, this $1 remainder note from the Bank of New England in East Haddam offers more than just a glimpse into 19th-century banking practices—it provides a richly artistic and well-preserved relic of America’s fragmented financial past. It is a representative piece of a time when hundreds of banks across the country issued their own paper money, each note a miniature canvas reflecting local pride, national ideals, and the high craftsmanship of a now-bygone era. For collectors and historians alike, the CT-110 G16c note stands as a rare and beautiful example of Connecticut’s numismatic heritage.

  • Details:
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    • Year: N/A
    • Diameter: N/A
    • Mint Mark: N/A
    • Thickness: N/A
    • Grade: N/A

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