,
 



PMG is the Official Grading Service of the Paper Money Forum
,
TogoThreeDollarBill

Hey, does anyone here have any theories on why the U.S. had originally planned to issue a $3 note with the passing of the "Legal Tender Act of 1862" and in the whole decade of the 1860s there were laws calling for a $3 bill twice, and why it didn't go into production?

My theory has always been that, when they had the $1 coin, the $2.50 Quarter Eagle coin, the $3 coin and the $5 Half Eagle coin that at first they were thinking "Okay we'll issue a $1 note, to make things easier, we'll issue a paper $2 even paper denomination, instead of a $2.50 note, and because Americans are used to the $3 denomination, in the form of a coin, we shall issue a $3 note as well as a $5 note. Then as time went on, perhaps they thought "Well, the $3 coin wasn't very popular among Americans, so, let's just scrap the idea of a $3 note" (I've read that the $3 coin wasn't very popular, anyway. Whether it's true or not, I don't know)

And one other question I wanted opinions on, was, do you think, had the $3 note been issued, that the Treasury would've deemed it a high enough denomination to redesign? I know that one of the main reasons the $1 and $2 notes were not redesigned was due to the lack of counterfeiting (plus the legislation that the vending industry lobbies for to stop the $1 note's redesign, and for the $2 note, perhaps lack of use) But a $3 note is getting close in value to a $5 note, so, do you think a $3 note would've been deemed worthy of being counterfeited? And therefore worthy of getting a redesign?

 

Quote 0
 
Steve in Tampa
I’m curious, @TogoThreeDollarBill, are you a paper money collector ?
Quote 0
beryl
This thread speculates on the $3 that never was along with other never made notes. Clearly a $3 legal tender was planned but with the Civil War other notes must have had priority.

https://www.papermoneyforum.com/post/alas-never-to-be-10185920?pid=1309061018&random=57538
Quote 0
TogoThreeDollarBill
@Steve in Tampa I used to like coins more than paper money, because, as a kids, my brothers and I liked looking in change for silver, and while that still interests me as well. I am somewhat of a modern paper money collector. I like when they redesign the U.S. currency just to see interesting new designs, which is why I wish they'd redesign the $1 and $2 notes, and bring back such denominations as the $500 and $1,000 notes and issue a $200 note. However, it's not just for collector reasons that I want to see redesigned $1, $2, new $200 and reissued $500, and $1,000 notes. I'm just sick of the "same ole same old" This is exactly why, I'd also like to see the half dollar coin circulate. Especially if they do get rid of the penny. The half could take the penny's place in cash registers. But seeing a $3 note would've been awesome in itself. Just because it would be something fun to spend, and collect new designs if they redesigned it every so often.
Quote 1
YoungCollector
So, the mint issues all sorts of useless coins just for collectors.  It make me think: why not print $3, $500 etc ... and just sell them at multiples of face ...

this, by the way, is not far from the thinking that created all those old half dollar commemoratives 
Quote 0
MEC2
They already did...

[image] 
Quote 1
TogoThreeDollarBill

So, the mint issues all sorts of useless coins just for collectors.  It make me think: why not print $3, $500 etc ... and just sell them at multiples of face ...

this, by the way, is not far from the thinking that created all those old half dollar commemoratives 

They'd probably say the reason was for counterfeiting reasons, but I've always wondered why they wouldn't print $500, $1,000, $5,000 and $10,000 notes again, at a premium, just to make money, and make them not worth spending such as $800 for a $500 note, $1,500 for a $1,000 note, $8,000 for a $5,000 note, and $15,000 for a $10,000 note, or something similar? And yes, although I'd like to see circulation quality $3 notes printed in the same amount as, and during the $2 note print runs, why not print $3 notes at a premium, and also sell sheet of $3s, straps of $3s, bricks or $3s etc. and other such circulation quality versions of the $3 note at a premium similar to the current half and $1 coins? And could you imagine sheets of $500, $1,000, $5,000, and $10,000 notes? I'd love to have some of those, although I know that at least sheets of $5,000 and $10,000 notes would easily be out of my price range, but hey! I can dream, can't I? 😍

Quote 0
 
Forum Sponsors

 
 

,