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Title: Five Dollars, Redback Series
- Author: The Republic of Texas
- Date: 1840
- Condition: Very Good - Cross-cut cancelled, repaired cancellations, age-related staining, all else fine.
- Inches: 7 1/4 x 3 1/8 [Paper]
- Centimeters: 18.41 x 7.93 [Paper]
- Product ID: 308768
Cut-cancelled five-dollar bill issued by the Republic of Texas in 1840 signed by President Mirabeau B. Lamar and Treasury Secretary James H. Starr.
Background on Republic of Texas Currency
Republic of Texas currency consisted exclusively of paper notes, as the Republic never minted its own coins. First issued in 1837, this currency included several types: "star money" (interest-bearing notes featuring a prominent star), "redbacks" (bills with red printing on the reverse introduced in 1839 to fund government debt), and low-denomination "change notes." Promissory in nature, these notes could be used primarily to pay taxes and government debts, but were difficult to use for everyday purchases. The Republic’s financial instability and tendency to overissue notes led to rapid depreciation, with some bills becoming nearly worthless within a few years. Notes were typically hand-signed by treasury officials, often featured symbolic images of Texas, and were sometimes cancelled with cut marks when redeemed. Ultimately, the currency’s decline hastened the adoption of U.S. money after annexation.