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Los Angeles Clearing House Certificate, 1907, Issued Depression Scrip

Currency:USD Category:Coins & Paper Money / Paper Money - United States Start Price:30.00 USD Estimated At:75.00 - 120.00 USD
Los Angeles Clearing House Certificate, 1907, Issued Depression Scrip
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Los Angeles, California, 1907. $1, I/U Certificate. Black print on green border and underprint. Number 1 on all four corners, and number 1 in decorated logos at left and right. Fine condition with toning and staining. Certificate was used during the panic of 1907 when banks were low on physical cash and in which banks and other firms limited their cash payments, of the issue of loan certificates in the clearinghouses of the country, and of the ingenious invention of multifarious other substitutes for legal currency.