Macerated Currency
"TOP HAT" Made of Macerated U.S. National Currency Redeemed at the U.S. Treasury Very Unusual & Scarce Type
Macerated United States Currency Bank Notes, Rare "TOP HAT" style, With Partial Treasury Tag, Choice Extremely Fine.
A highly desireable and rarely encountered major design type that is a wonderful example of Macerated Currency. This TOP HAT measures 3" x 2.5" at the brim, 1.75" tall. A partial tag is still attached, estimated value missing, but this design is usually made from an estimated $5,000. Missing in most collections, this example would look great on display.
Between the mid 1870s to 1928, worn and mutilated United States Currency Banknotes were returned to the Treasury Department where they were reduced to paper pulp and made into Souvenirs for sale to the public. By the 1890s, the pulp was sold to various contractors such as the National Currency Souvenir Co., where it was used to create souvenir busts of prominent Americans, historical images and replicas of various national monuments.