Catalog
2 Dollars
| Issuer | Treasury of the Republic of Texas |
|---|---|
| Year | 1839-1841 |
| Type | Log in to see details |
| Value | 2 Dollars |
| Currency | Log in to see details |
| Composition | Log in to see details |
| Size | Log in to see details |
| Shape | Log in to see details |
| Printer | Log in to see details |
| Designer(s) | Log in to see details |
| Engraver(s) | Log in to see details |
| In circulation to | Log in to see details |
| Reference(s) | Log in to see details |
| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | THE TREASURER OF THE REPUBLIC OF TEXAS Will pay TWO DOLLARS in Promissary Notes of the Government when presented at the Treasurers Office. In accordance with an act of Congress. Austin ____ 18__ TWO 2 2 TWO DOLLARS |
| Reverse description | The reverse is unprinted and blank, showing only the plain paper stock, with the impression of the obverse design faintly visible in show-through. |
| Reverse lettering | Log in to see details |
| Signature(s) | Log in to see details |
| Protection type | Log in to see details |
| Protection description | Log in to see details |
| Variants | Log in to see details |
| Comments |
The Republic of Texas printed its own currency out of necessity — the young republic had no functioning banking system and a chronic shortage of hard money from the moment of independence in 1836. These "redbacks," as they came to be called from the red ink used on the reverse, were issued by the Treasury rather than any bank, making them direct obligations of a government that was perpetually insolvent.
Inflation was severe. By 1842 the notes traded at a fraction of face value against U.S. specie, and confidence never recovered before annexation rendered them worthless. Surviving examples almost always show heavy use.