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The E-Sylum: Volume 18, Number 35, August 30, 2015, Article 22

QUERY: SOUTH CAROLINA OBSOLETE BANKNOTE HOARD

On Thursday, August 25, 2015, I couldn't help but notice a quarter-page ad in the Wall Street Journal with the screaming headline "Civil War Era Bank Notes" with an equally large-font phone number at the bottom. It pictured a five dollar obsolete banknote from the Bank of the State of South Carolina. Essentially the same text is on the firm's web site, shown below. -Editor

State Bank of South Carolina $5 front

State Bank of South Carolina $5 Obsolete Currency - Potato Vignette

Original Bank Notes with Hand Written Signatures and Dates!

View and hold history in your hands with these fascinating $5 obsolete bank notes issued by the State Bank of South Carolina over 150 years ago! The Civil War started on South Carolina soil on April 12, 1861 after the Union attack on Fort Sumter. The Bank of South Carolina operated from 1812 through 1865 during which time it served as the State Treasury. It printed the only state issued notes during the Civil War.

The central vignette of General Francis Marion eating a “Sweet Potato Dinner” is one of the most famous of Southern Vignettes. Marion was known as the “Swamp Fox” and served in the Continental Army and South Carolina militia. He is considered an honorary United States Army Ranger by the U.S. military. Thomas Sumter (left) served in the South Carolina militia and was called the “Carolina Gamecock” for his fierce fighting style. Fort Sumter was named after him. General William Moultrie (right) defended Charleston and Fort Moultrie is named in his honor.

Typically redeemed notes like these were destroyed upon closure of the issuing authority. The survival of these notes is rare in Civil War and antebellum banking history. Their authenticity is unquestionable as they were bought from the South Carolina Department of Archives and History. The signatures, dates and serial number numbers are hand written, making each note a unique piece of American history that will become a treasured family heirloom passed down from generation to generation know two notes the same.

State Bank of South Carolina bundles Another image in the ad shows "The notes still tied and sealed in their original 1880 bundles were discovered in the 1950's and transferred to the State Archives in 1961.

I believe there is a monograph by John Muscalus on obsolete notes featuring the "Sweet Potato Dinner" vignette. Are any of our readers familiar with this hoard? Was it documented in the numismatic press? When/how was it deaccessioned from the South Carolina State Archives? One never knows quite what to believe in promotional material, but there may be an interesting story here. -Editor

To read the offering, see:
State Bank of South Carolina $5 Obsolete Currency - Potato Vignette (www.coin-rare.com/2015-is-the-150th-anniversary-of-the-end-of-the-civil-war.aspx)



Wayne Homren, Editor

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