100 Dollar Quassaick Bank Proof Note, 1854

Bald, Adams & Company of New York printed this 100 dollar proof for the Quassaick Bank of Newburgh, New York, around 1854. The Quassaick Bank was formally adopted on March 31, 1852, taking the aboriginal name of the town of Newburgh. The center of the note has an image of Native Americans pointing toward an industrialized Newburgh. The left side has an image of a man and a boy holding rifles, hiking up a mountain. The punches on the signature lines for the bank’s cashier and president made it unusable. This note is a proof done by Bald, Adams & Company, printed to confirm that the design was suitable for mass printing.
From 1790 to 1863, states and private banks issued their own currency to supply capital in a young nation without a national currency. This currency was backed by the hard money the banks had on deposit, and was only used locally where the bank and its operators were trusted in the community. However, banks often oversupplied notes, and this overextension caused bankruptcy among private and state banks when financial panic struck, particularly in 1837. Currencies from these failed banks are known as “obsolete bank notes” or “broken bank notes,” and several are held in the National Numismatic Collection.
date made
Bald, Cousland & Co.
place made
United States: New York, Newburgh
Physical Description
paper (overall material)
overall: 8 cm x 18 cm x .01 cm; 3 5/32 in x 7 3/32 in x in
ID Number
catalog number
accession number
Credit Line
Richard S. Schlein
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Work and Industry: National Numismatic Collection
American Enterprise
Coins, Currency and Medals
American Enterprise
Exhibition Location
National Museum of American History
Data Source
National Museum of American History