- Title: Five Hundred Dollars, Redback Series
- Author: Republic of Texas
- Date: 1840
- Medium: Original currency
- Condition: Excellent - cut-cancellation expertly repaired, paper loss around margins, uniform age toning
- Inches: 7 3/8 x 3 1/8 [Paper]
- Centimeters: 18.41 x 7.93 [Paper]
- Product ID: 308527
Cut-cancelled five hundred-dollar bill issued by the Republic of Texas in 1840 signed by the office of President Mirabeau Lamar.
The $500 denomination was among the largest issued, and like others in the series, it typically bore allegorical engravings symbolizing commerce, industry, and liberty, and was manually signed by republic officials. Many notes were later “cut-cancelled” to indicate they had been redeemed and withdrawn from circulation, as a measure to prevent fraudulent reuse.
The $500 Redback is historically significant as a physical reminder of Texas’s attempt at economic autonomy during its brief period as an independent nation and the hardships it faced, contributing in part to the eventual U.S. annexation of Texas. Surviving examples are rare, especially in good condition, making them valued items for collectors and historians interested in early Texas history and currency.
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.