Have a $3 bank note from the 1800's, need help...

[911paramedic]

I just saw the other thread about older money and I have a question about something I received.

When my father and I cleaned out my great aunts house after she passed away last year we found lots of interesting, and really old, stuff. The most unusual was an actual $3 bank note issued from Texas in the late 1800's. We have tried to research it but have not found any information at all on them. I don't have it in front of me because we put into our safety deposit box at the bank, but I would really love to know more about it.

Any hints how to find out about it?? I have tried almost everything buy you all are quite a resourceful bunch...

Thanks

 

[Amused]

Google IS your friend...

Three Dollar Notes

The Bureau of Engraving and Printing has never been authorized to print a $3 note. However, during the early 1800's, banks operating under Federal or State charters issued notes of that denomination. These notes were printed by private contractors and were not obligations of the federal government. There is a permanent exhibit about the $3 bill on display in Philadelphia's Independence Hall.

 

[bozo1]

Sounds queer to me.

 

[911paramedic]

I came across that too, but it was issued though "The State of Texas", not a private contractor.

 

[kranky]

Get me a good scan of both sides and I will find out what it is. Without a scan it's impossible. Many, many reproductions were made of old paper money so it could be nothing, or it could be something.

 

[Amused]

<< I came across that too, but it was issued though "The State of Texas", not a private contractor. >>



Reading comprehension is your friend

"However, during the early 1800's, banks operating under Federal or State charters issued notes of that denomination. "

 

[Joony]

scan it damn you! we need to see this!

 

[911paramedic]

Reading comprehension is your friend



$3 bank note issued from Texas in the late 1800's.

 

[ToBeMe]

Several years ago while going through my Grandmothers things after her death at age 96 in 1987, we found a small lockbox that contained a lot of odd bank notes and currency also........the most interesting to me by far though, was a sharholders certificate of stock in a company named "The Henry Ford Automobile Company". There were 112 shares of the stock. My brother, (being a lawyer) said he would look into any value they may have. That was 1987, the stocks as well as the rest are still in the lockbox at my parents home and I don't think he ever investigated this! Thanks for priming my memory and does anyone whom is "into" stocks know if these ancient certificates would have any value or are they just old pieces of paper??????

 

[Joony]

Ford is at like 14 bucks a share right now. Sell your 112 stocks and get like a grand or so.

 

[911paramedic]

If it is a bearer bond type of certificate, it is as good as cash. That just means that you are holding the actual "stock" in your hand and not a "recipt" for stocks. If your stock "certificate" is the bearer bond, you are good to go, the latter, only states that at one time you owned (and may still) that stock.

Good Luck!

 

[Viper GTS]

<< Ford is at like 14 bucks a share right now. Sell your 112 stocks and get like a grand or so. >>



Has Ford stock ever split?

If so they might be worth even more...

Viper GTS

 

[kranky]

About that Ford stock (info from this page at Ford):

Ford Motor Company was founded by Henry Ford and incorporated in Michigan on June 16, 1903. The corporation's common stock was entirely owned by Henry Ford and a small group of local investors.

In 1919, Henry Ford bought out all of these investors and reincorporated the company in the State of Delaware. From 1919 to 1956, all stock in the company was owned by members of the Ford Family, the Edison Institute, and the Ford Foundation.

· First offered to the public on January 18, 1956, when the Ford Foundation began to sell its stock in the company. The price was $64.50 per share.

· First traded on the New York Stock Exchange on March 7, 1956.

· Stock "split" six times since it was issued. The splits and their payment dates, which appear on the actual certificates, were:

May 31, 1962 2 for 1
May 24, 1977 5 for 4
December 1, 1983 3 for 2
June 2, 1986 3 for 2
January 12, 1988 2 for 1
July 5, 1994 2 for 1

· "Old" Ford Motor Company common stock was replaced by "new" Ford common stock, based on the Value Enhancement Plan recapitalization of the company which occurred on August 2, 2000.

· Shareholders, electing to receive ALL "new" stock in exchange for their "old" stock, received 1.748175 shares of "new" stock in exchange for each share of their "old" stock.

· Shareholders electing to receive the PRO RATA election of "new" stock in exchange for their "old" stock received 1.554593 shares of "new" stock in exchange for each share of their "old" stock.

 

[ToBeMe]

OK.....then let me ask this question........the reason I asked if it was just worthless old paper was, my brother said at the time that the original "Henry Ford Automobile Company" which is the stock owned here, is not the same company as "Ford Automotive Group" as it is now. He said the original company (which these stocks are part of) wnet under in the early 20th century only to re-emerge as "Ford Automobile Compny" a few years later............anyone know for sure if there is any truth to this???? I know by reading biographies on Henry Ford that he operated and lost 3 companies before what is now known as Ford.............I don't know, and don't want to go into a brokerage not knowing what I have and if there is any value to them...............

 

[Joony]

getting confusing for me now...i don't know much about stocks

 

[ToBeMe]

<< About that Ford stock (info from this page at Ford):

Ford Motor Company was founded by Henry Ford and incorporated in Michigan on June 16, 1903. The corporation's common stock was entirely owned by Henry Ford and a small group of local investors.

In 1919, Henry Ford bought out all of these investors and reincorporated the company in the State of Delaware. From 1919 to 1956, all stock in the company was owned by members of the Ford Family, the Edison Institute, and the Ford Foundation.

· First offered to the public on January 18, 1956, when the Ford Foundation began to sell its stock in the company. The price was $64.50 per share.

· First traded on the New York Stock Exchange on March 7, 1956.

· Stock "split" six times since it was issued. The splits and their payment dates, which appear on the actual certificates, were:

May 31, 1962 2 for 1
May 24, 1977 5 for 4
December 1, 1983 3 for 2
June 2, 1986 3 for 2
January 12, 1988 2 for 1
July 5, 1994 2 for 1

· "Old" Ford Motor Company common stock was replaced by "new" Ford common stock, based on the Value Enhancement Plan recapitalization of the company which occurred on August 2, 2000.

· Shareholders, electing to receive ALL "new" stock in exchange for their "old" stock, received 1.748175 shares of "new" stock in exchange for each share of their "old" stock.

· Shareholders electing to receive the PRO RATA election of "new" stock in exchange for their "old" stock received 1.554593 shares of "new" stock in exchange for each share of their "old" stock. >>


OK......this kind of follows what my brother said.........this stock is from, as stated above, the original company Henry Ford owned, therefore, since all outstanding stock was bought back, this stock really has no value does it???? I think this is why my brother never pursued this any further.................

 

[Scarpozzi]

<< Sounds queer to me. >>


LOL
I'm surprised I'm the first to say, that's funny...

 

[kranky]

Don't assume it's worthless (although it might be).

First, get a photocopy of the stock certificate (both sides) then contact Ford Investor Relations by mail or phone (contact info is here) and ask. That might clear it up.

If not, use a stock research service to verify whether the certificate still has value. OldStockResearch.com charges $45, Stock Search International charges $85.

But get the photocopy first. Without it they won't be able to tell you anything.

 

[ToBeMe]

<< Don't assume it's worthless (although it might be).

First, get a photocopy of the stock certificate (both sides) then contact Ford Investor Relations by mail or phone (contact info is here) and ask. That might clear it up.

If not, use a stock research service to verify whether the certificate still has value. OldStockResearch.com charges $45, Stock Search International charges $85.

But get the photocopy first. Without it they won't be able to tell you anything. >>


This sounds reaonable.......thanks for the links and I'll follow up on that! I think we all imagined they held little value and thus the 15 or so years since we've done anything, but, it would be nice to finely know so I'll be contacting those places! Even if they are "worthless" I always thought they would look neat framed! I mean they are very old and from the original comapny Ford founded so............

 

[Phil21]

er, IF that stock was stock that is now Ford proper, it's worth a damn lot.

I mean.. split six times.. lets see, and not take into account the "trade in" stuff for the new stock.

1. 112 shares * 2 = 224
2. 224 * 2 = 448
3. 448 * 2 = 896
4. 896 * 2 = 1792
5. 1792 * 2 = 3584
6. 3584 * 2 = 7168

This is, of course assuming 2 for 1 splits (which isn't always the case), but I'm more illustrating the point of splits being exponential over time.

So assuming they were all 2 for 1, and the stock is what you think it is, and using the value of $14/share given earlier that would be worth about $100,000.

Obviously go do some research and see what you're sitting on.

-Phil

edit: just saw the actual split dates/ratios. You do the math. This was just to illustrate a point.

 

[Amused]

<< Reading comprehension is your friend



$3 bank note issued from Texas in the late 1800's. >>



Yes, Chartered by the state, therefore it would be a STATE bank note.

 

[911paramedic]

I am telling you that it was the LATE 1800's and it did have dept of treasury on it. It is in my dads safety deposit box in los angeles or I would scan it and post the pictures for you. As I am in Las Vegas I cannot access it, but I will post it in the future.

Thanks for the help though.

 

[Amused]

Did it look like this (except it had a 3 on it?)

or did it look like this

 

[911paramedic]

no, it was quite cluttered on the front and had two signitures on it similar to todays money. It was dark green with rusty-red coloring. I really wish I had it to scan it for you. The Texas lettering was not very large either.

 

[Amused]

Oops, I added a second link. Check that one.