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$5 The Cotton Planters Loan Association... What is this?

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My father and I were looking through some of his stuff the other day. One of the things he showed me was a 1862 $5 The Cotton Planters Loan Association Note. He told me he was working on a house many years back and found it stuck underneath of a chair. He asked me if I could tell him what it was. I have no clue. I searched on ebay and found a match. Here is the link. http://cgi.ebay.com/1862-5-Cotton-Planters-Loan-Association-Replica-/250606891460?pt=LH_DefaultDomain_0&hash=item3a5955b1c4 But I still am not sure what it is. If anyone could give me a little lesson on this item I would appreciate it. Just Curious.

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Back during the 1800s, printing of currency was not a centralized system done exclusively by the federal government.

 

Banks, and other entities would print bank notes bearing their name and would pay the sum of the face value of the note.

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