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College Currency > Alabama

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$20 Tuscaloosa Female College
Grade: AU    

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Obverse is black and white and states, "Rev. B.F. Larrabee, President & Proprietor, on the first Day of October, 1879, will pay to ____ or Bearer Twenty Dollars." Front vignettes show a portrait of Larrabee (?) on the right and a hand, lamp and book on the left. The reverse is black and green with a large, detailed rendition of the school in an oval, flanked by a map of Alabama on the left and an eagle on the right. Imprint: Litho. of Weed, Darsons & Co., Albany, NY. This cleverly designed note states that the note bears 8% interest per annum, and is receivable in payment for board and tuition at a 5% premium. Further conditions state that the interest is redeemable in three years at par in the U.S. currency, at the option of the proprietor, payable in five years, on demand, in U.S. currency. It is not clear whether this was a legitimate operation, or a clever scam. Either way, every attempt was made to give this note the appearance of U.S. currency. There is a sticker attached to the back that reads, "C.B. Verner, Tuscaloosa, Ala, 8/3/03." Well-centered.

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