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$5.00 18xx Pittson Bank PA Obsolete Note Proof Gem New 66 PCGS
$5.00 18xx Pittson Bank PA Obsolete Note Proof Gem New 66 PCGS
Regular price
$550.00 USD
Regular price
Sale price
$550.00 USD
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per
The $5.00 18xx Pittson Bank, PA Obsolete Note graded Proof Gem New 66 (PPN66) by PCGS (Professional Coin Grading Service) is a very special item for collectors of American obsolete currency. Here’s what you need to know:
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Type: Obsolete Banknotes, specifically from the Pittson Bank in Pennsylvania. These notes were issued by state banks before the uniform national currency was introduced after the Civil War.
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Era: The "18xx" indicates it's from the 19th century, which was a period when banking was largely unregulated at the federal level, leading to a plethora of different bank issues.
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Grade Explanation:
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Proof Gem New 66 (PPN66):
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Proof indicates it was made for collectors or as a specimen, not for general circulation, often with higher quality paper and printing.
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Gem New means the note is in virtually perfect condition, with no signs of use, potentially having sharp corners, bright original color, and no folds or creases.
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66 is a numerical grade where 60 is the threshold for "Uncirculated" and 70 is considered perfect. A grade of 66 suggests the note is very close to perfection, with only minor flaws visible under close scrutiny or very light handling marks, if any.
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Historical Significance:
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Obsolete banknotes like this one from Pittson Bank are pieces of local history, reflecting the economic activity and banking practices of the time. These notes ceased to be valid after the National Banking Acts were passed in the mid-19th century, leading to the establishment of a national currency.
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Value and Collectibility:
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Market Value: Factors affecting value include:
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Rarity: Proof notes, especially from smaller or lesser-known banks like Pittson Bank, are rare because they were not intended for circulation.
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Condition: PPN66 is an exceptionally high grade, indicating the note has been preserved remarkably well.
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Demand: Collectors of obsolete banknotes, those focusing on Pennsylvania currency, or those interested in high-grade proofs will find this note particularly desirable.
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- A $5.00 Pittson Bank PA Obsolete Note in Proof Gem New 66 is a collector's item of high regard due to its rarity, condition, and the historical context it represents. These notes are not only pieces of currency but also documents of early American economic history. Remember, the market for such collectibles can be volatile, influenced by historical interest, collector demographics, and overall economic conditions.
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