Ot - Model T Era Dollar Bill

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Model T Ford Forum: Forum 2016: Ot - Model T Era Dollar Bill
Top of pagePrevious messageNext messageBottom of page Link to this message  By Jay - In Northern California on Friday, February 12, 2016 - 09:23 am:

This is what a dollar bill looked like in the Model T era.



Here's a song about it from 1909

Billy Murray - A Good Old Dollar Bill 1909
https://www.youtube.com/watch?v=mjozAM6KFio


Top of pagePrevious messageNext messageBottom of page Link to this message  By Tim Wrenn-Monroeville OH on Friday, February 12, 2016 - 09:33 am:

That is cool! Worth keeping for sure!


Top of pagePrevious messageNext messageBottom of page Link to this message  By Eric Sole - Castelldefels (Spain) on Friday, February 12, 2016 - 09:44 am:

Cars have certainly changed a lot over the past 100 years but the song shows that people have not. :-)


Top of pagePrevious messageNext messageBottom of page Link to this message  By Henry Petrino in Modesto, CA on Friday, February 12, 2016 - 10:17 am:

It's interesting that everyday common items become relatively rare over the years. I'm sure many of us had relatives who could have easily put a few of the dollar bills like this one away for future generations, but few did.

In the '60s once or twice a year I'd take my grandfather to South Shore, Lake Tahoe. He (and I) liked to play craps a little. Morgan silver dollars were everywhere. It would have been easy to sock away a few. I have 1. :-(


Top of pagePrevious messageNext messageBottom of page Link to this message  By Greg Kuhnash Southeastern Ohio on Friday, February 12, 2016 - 10:37 am:

Unless I am blind, and I might be. It doesn't look like it has In God We Trust " on it .

greg


Top of pagePrevious messageNext messageBottom of page Link to this message  By Jay - In Northern California on Friday, February 12, 2016 - 10:41 am:

Yup "In God We Trust"......All others pay cash! :-)

"the 84th Congress passed a joint resolution "declaring IN GOD WE TRUST the national motto of the United States." The law was signed by President Eisenhower on July 30, 1956, and the motto was progressively added to paper money over a period from 1957 to 1966."


Top of pagePrevious messageNext messageBottom of page Link to this message  By Mark Osterman on Friday, February 12, 2016 - 10:46 am:

And now look at what we have. Looks like is was designed by 20 people ... none of which agreed on the design.


Top of pagePrevious messageNext messageBottom of page Link to this message  By Norman T. Kling on Friday, February 12, 2016 - 10:52 am:

I remember United States Notes, also Silver Certificates. I have a few Silver Certificates in my safe.

When I was about 10 years old a friend of my dad's gave me a Morgan Silver Dollar. I thought it was fun to roll it across the living room. Unfortunately, one day it fell down into a crack in the boards and I could not retrieve it. Dad wouldn't let me pull up the boards, so as far as I know, it is still down in that floor. Our family no longer owns the house.
Norm


Top of pagePrevious messageNext messageBottom of page Link to this message  By Jay - In Northern California on Friday, February 12, 2016 - 10:53 am:

At the rate the national debt is growing (19 TRILLION and climbing) it will be cheaper to wipe your butt with a few George Washington's then to buy toilet paper.

National Debt clock link:
http://www.usdebtclock.org/


Top of pagePrevious messageNext messageBottom of page Link to this message  By Henry Petrino in Modesto, CA on Friday, February 12, 2016 - 11:23 am:

Jay,

I'm told there are 147 pennies in a pound, so a $1.47 value. Copper sells for about $3.00 per pound. Maybe we should just start selling pennies to the scrap guys. A little more or less it's a double you money deal. A half ton truck load would cost about $1,500 and produce about $3,000, a $1,500 profit. :-)

Of course it's probably illegal..........


Top of pagePrevious messageNext messageBottom of page Link to this message  By Jay - In Northern California on Friday, February 12, 2016 - 11:41 am:

Gives a new meaning to "pennies From Heaven":-)


Top of pagePrevious messageNext messageBottom of page Link to this message  By Brian Beatty _Kansas City on Friday, February 12, 2016 - 12:12 pm:

I think pennies are mostly zinc with a copper coating these days. Copper became to valuable as noted by Henry's prices above.


Top of pagePrevious messageNext messageBottom of page Link to this message  By Mark Strange - Hillsboro, MO on Friday, February 12, 2016 - 12:17 pm:

The problem of people melting down coins because their metal is worth more than the face value is as old as coins themselves:

https://en.wikipedia.org/wiki/Coin


Top of pagePrevious messageNext messageBottom of page Link to this message  By Dan Hatch on Friday, February 12, 2016 - 03:17 pm:

See my ad wanting to trade Parts for Silver Dollars. So far, no one wants to trade. Guess I will have to take plain old dollars. Dan


Top of pagePrevious messageNext messageBottom of page Link to this message  By Wayne Sheldon, Grass Valley, CA on Friday, February 12, 2016 - 04:11 pm:

Henry P said
"It's interesting that everyday common items become relatively rare over the years. I'm sure many of us had relatives who could have easily put a few of the dollar bills like this one away for future generations, but few did."

It is ironic that in (I think it was 1928), Just before the great depression hit, the size of paper money was reduced significantly. The government pushed to have all the old bills turned in and replaced to reduce handling complications. If it had not been for the great depression? Many people probably would have kept them in books, coffee cans and cookie jars. However, very few people had any money to spare during those next fifteen years.
I started collecting coins before my parents would let me drag home antique cars. I always wanted some of those big bills. But I have never had one from the model T era. I do have a couple from around the mid 1800s. I even have a three dollar bill.
Drive carefully, and enjoy, W2


Top of pagePrevious messageNext messageBottom of page Link to this message  By Norman T. Kling on Friday, February 12, 2016 - 04:20 pm:

The depression changed the idea of saving dollars for future generations. One thing is that there was very little inflation in those days. Another is that we needed to eat. I remember my mother telling me of one day when she scraped together all the pennies she could find. She had about 25c She walked down to the market. She was able to buy dinner for us with about 25c.
Norm


Top of pagePrevious messageNext messageBottom of page Link to this message  By Marty Bufalini - Grosse Pointe, MI on Friday, February 12, 2016 - 05:29 pm:

What is the size of this bill? Some of the early bills were pretty big.


Top of pagePrevious messageNext messageBottom of page Link to this message  By Trent Boggess on Friday, February 12, 2016 - 06:04 pm:

This is a very interesting dollar bill. Note that at the top of the note is the legend "This Note Is Legal Tender". This indicates it is a linear descendent of the Legal Tender notes issued by the Federal Government during the Civil War. These were also known as "Greenbacks".

Following the Civil War the US Treasury began to with draw Greenbacks from circulation. This tended to have a deflationary effect on the economy during a time when many were advocating an expansion of the money supply. Others recognized the role the Greenbacks had played in winning the Civil War and wanted to see them remain in circulation as a reminder. The redemption and reissue of Greenbacks by the Treasury,became a political as well as economic topic, and at one point there was even a political party - The Greenback Party - that advocated preserving and expanding the amount of Greenbacks in circulation.

In 1878 legislation was passed halting the further withdraw of Greenbacks from circulation, and requiring the Treasury to maintain Greenbacks in circulation at $346,681,016. By today's standards, this is a very small part of the currency in circulation, the overwhelming majority of which is Federal Reserve Notes. The Greenbacks in circulation today are mainly held by collectors.

Respectfully Submitted,

Trent Boggess


Top of pagePrevious messageNext messageBottom of page Link to this message  By Wayne Sheldon, Grass Valley, CA on Friday, February 12, 2016 - 07:57 pm:

Trent B, So you are much a historian of money as well as Ford. It has been a long time since I have read much of that, but I remember having read most of it. There is a lot of really interesting history to both coins and paper money. Coins of course go back much farther in time.
I haven't hardly even looked at the little bit of the collection I still have. I do have a Fugio cent (in poor condition), a few half cents, and a couple pre-USA state coins.
Most people don't know, that most paper money early in this country wasn't issued directly by the government. A lot of paper money was issued by Banks (banknotes). If a bank went under, their notes could in fact become worthless, and they could continue being circulated for years unknown by the receivers.
Other businesses also could back legal tender. My three dollar bill was originally backed by a bookstore (remember, books were very expensive at that time). It is in poor condition, and was not expensive when I bought it at the ripe old age of ten. If it had been in good condition , I could never have saved enough money to buy it. And I really wanted it then, and consider it one of my prized possessions to this day.
I also have a New York Banknote from the 1830s (if I recall the year correctly).

The "Secret Service" was not originally formed to protect the president. They were formed to protect the money supply and fight counterfeiting at about the same time the federal government stopped banks from issuing currency.

Fascinating stuff! I love history. And I think it is one of the most important subjects that everyone should understand some amount of.
The model T Ford just happens to be one of the most FUN parts of history.
Drve carefully, and enjoy, W2


Top of pagePrevious messageNext messageBottom of page Link to this message  By Harold Schwendeman - Sumner,WA on Friday, February 12, 2016 - 08:02 pm:

In the top picture, in a little black band on the left hand side of the dollar bill, it reads,..."ACT OF MARCH 3rd, 1863". I doubt that that means that that's when the bill was printed, because if that's what it meant, that would make the bill 48 years old when the first Model T appeared. Anybody know what the "ACT OF MARCH 3rd, 1863 was all about?


Top of pagePrevious messageNext messageBottom of page Link to this message  By Harold Schwendeman - Sumner,WA on Friday, February 12, 2016 - 08:07 pm:

Actually, a bit of research on the internet says something about,.....Civil War Military Draft Act, March 3rd, 1863. Wonder why this would have been printed on a dollar bill???


Top of pagePrevious messageNext messageBottom of page Link to this message  By Harold Schwendeman - Sumner,WA on Friday, February 12, 2016 - 09:29 pm:

Here's something interesting. In the black band at the top of the bill, it clearly states,....THIS NOTE IS A LEGAL TENDER FOR ONE DOLLAR.

A mistake in grammar I believe. It should say,....THIS NOTE IS LEGAL TENDER FOR ONE DOLLAR.

The letter "A" between IS and LEGAL should not be there!

Maybe that's a real "collectors item" Jay,.......???

Yeah, my Son is probably right when he says,...."You've got too much time on your hands dad." (???)

For what it's worth,......harold


Top of pagePrevious messageNext messageBottom of page Link to this message  By Harold Schwendeman - Sumner,WA on Friday, February 12, 2016 - 09:47 pm:

Oh,....and one more thing,.....closer inspection reveals that this dollar bill is "Series 1917". I should look closer before "expounding", right?


Top of pagePrevious messageNext messageBottom of page Link to this message  By Steve Jelf, Parkerfield KS on Friday, February 12, 2016 - 09:59 pm:

The bill was printed under an 1863 act, but "SERIES OF 1917" is clearly printed on the front and the back. This doesn't mean it was printed in 1917, but that it was printed sometime from 1917 to the year the next series started. Paper money isn't dated by year like coins. The next major change was in 1929 with the introduction of the Series 1928 bills in the current smaller size.


Top of pagePrevious messageNext messageBottom of page Link to this message  By Jim Derocher on Friday, February 12, 2016 - 10:08 pm:

I have the same question as Marty does, the size of the bill. What does it measure Jay? I think it may be one of those they called a "Long Dollar". Thank You for all the pictures Jay, really love them all. Jim Derocher AuGres, Michigan


Top of pagePrevious messageNext messageBottom of page Link to this message  By Jay - In Northern California on Friday, February 12, 2016 - 10:19 pm:

Howdy Jim, Glad you like the photos. The bill measures 7 3/8 3 1/8 in.


Top of pagePrevious messageNext messageBottom of page Link to this message  By Steve Jelf, Parkerfield KS on Friday, February 12, 2016 - 10:20 pm:

Approximately 7 3/8 3 1/8} inches. The new (current) size is 6 1/8} x 2 5/8".


Top of pagePrevious messageNext messageBottom of page Link to this message  By Gustaf in Idaho on Friday, February 12, 2016 - 10:36 pm:

Harold, I believe that this note is "a" legal tender, there were many others. This one is a United States note, there were also Silver certificates, Treasury notes, even National currency and gold notes but they were not issued in $1 denominations, but all notes were labeled as " legal tender at that time.


Top of pagePrevious messageNext messageBottom of page Link to this message  By Gustaf in Idaho on Friday, February 12, 2016 - 10:55 pm:



Opps, I was wrong, they did print National currency in $1 denominations in 1914.
The notes are from the upper left down
US note from 1862
Treasury note from 1891
Silver certificate from 1891 (with Martha Washington on the front)
United States note from 1917
Upper right down
National currency from 1914
Silver certificate from 1899
Silver certificate from 1923 (the last large $1 bill)
Silver certificate from 1935 A (with Hawaii over print for use in the Pacific in WWII)


Top of pagePrevious messageNext messageBottom of page Link to this message  By Wayne Sheldon, Grass Valley, CA on Saturday, February 13, 2016 - 02:17 am:

Nice collection Gustaf!
And thanks to you and all.


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