Deborah M. Child (www.deborahmchild.com) has been at AAS for the past month researching her upcoming book on Lyman Parks (1788-1872). Parks’ forged bank notes were so accomplished that even the experts could not tell his notes from legitimate currency. Part of Fraud Week on Past is Present, Deborah’s post below gives tips on how to identify counterfeit currency, starting with a bill that features our man-of-the-week, George Washington.
Gilbert Stuart’s bust portrait of George Washington continues to be a favorite subject for vignettes on American currency. Shown here [Fig. 1] is an example from the AAS currency collection.
The first thing to consider when assessing whether a bank note is genuine is its textual content. Is the date inscribed on the note consistent with the dates of operation of the bank? Secondly, is it the correct plate design for that particular bank? Third, do the signatures look right? In this case [Fig. 1], the same hand clearly signed as the cashier and the president of the bank. The paper is equally suspect: it is thinner and darker than currency paper which has a whiter appearance and softness to it owing to the presence of silk rag.
The ink here [Fig. 1] is of a similar inferior quality having none of the glossy jet black qualities found in inks an engraver would painstakingly prepare. Note the amateur quality and uneven spacing of the numbers. Instead of the precise lines that are accomplished with the use of a geometrical lathe that a professionals engraver would use, the lattice work surrounding the currency numbers is crudely drawn by hand and off-center. The vignette featuring Washington’s face is similarly lacking and disappears into the paper.

The second example [Fig. 2] is another bank note from the AAS currency collection. Examined over a light box, it becomes immediately apparent this bill has been chemically altered. The ink is uneven and the lettering is not consistent with the rest of the text. The paper is thinner and lighter, the texture altered, making it obvious that the bank name “Hamilton” in the center has been substituted.

The bank for which it was originally printed was undoubtedly defunct so the counterfeiter removed the name of the original bank and substituted this name to place it back in circulation.
Not surprisingly, all this devious behavior corrupting the currency prompted a public outcry and a proliferation of anti-counterfeit guidebooks and newspapers. Trouble was the counterfeiters would study these guides as closely as the bankers and adjusted their practices accordingly.
What better way to say Happy Birthday George!
Further Reading:
Clark’s New England Bank Note List and Counterfeit Bill Detector. (Boston, MA: 1838-1845)
Mihm, Stephen. A Nation of Counterfeiters. (Cambridge, MA: Harvard University Press, 2007)
Wilber, E.J. & E. P. Eastman. A Treatise on Counterfeit, Altered and Spurious Bank Notes with Unerring Rules for Detection of Frauds in the Same. Illustrated with original steel, copper, and wood plate engravings. (Poughkeepsie, NY: Published by the authors, 1865)
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