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2 Dollars New England Commercial Bank - Rhode Island
| Issuer | New England Commercial Bank |
|---|---|
| Year | 1864 |
| Type | Log in to see details |
| Value | 2 Dollars (2 USD) |
| Currency | Log in to see details |
| Composition | Log in to see details |
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| Designer(s) | Log in to see details |
| Engraver(s) | Log in to see details |
| In circulation to | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | The reverse is uniface, printed on plain paper stock with no design elements, except for the ghost impression of the green TWO underprint from the obverse, which appears in mirror reverse through the sheet. |
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| Protection type | Colored underprint |
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| Comments |
The New England Commercial Bank operated out of Newport, Rhode Island, and this 1864 issue comes from the closing years of the free banking period — the National Banking Acts of 1863 and 1864 were already squeezing state-chartered banks out of the currency business by imposing a ten percent federal tax on their notes. Most state bank circulation dried up within a few years of that legislation passing, which means notes like this had a very short window of active use.
New England Bank Note Co. was a Boston firm that handled a substantial volume of New England state bank work before the federalization of currency rendered most of it moot almost immediately after printing.