On This Date in Minnesota History: Marh 30

March 30, 1903 – All $2 bills in circulation in Minneapolis are under suspicion. This is because of the arrival of some very deceitful greenbacks of the $2 denomination. These have every appearance of being just what they purport to be, legal tender. But they are bad, very bad, because they are so good.

$2 Bill¹

Captain J. W. Lawrence, agent of the secret service stationed in the Twin Cities, discovered one of these bills today, just one week after he was warned by the treasury department at Washington. He spent the afternoon visiting the banks and the cashiers of big business establishments warning them against the counterfeit.

About two years ago quarantine against all $2 bills was declared by department store cashiers, so many were put in circulation. The work on the new counterfeit is so good that such action may result again.

The feature of the bill is its “too muchness.” The paper is crinkly, the silk threads are too evident, the inking is too heavy to be the real thing. This is the case with the new bills, but when they become slightly worn their detection will be almost impossible.

The work is what is called photographic etching. With a little more expertise the workmen will have a counterfeit almost impossible of detection. The execution of the seal is excellent, also of the numbers, but the vignette is poor. Washington’s face looks as if he regretted something exceedingly.

The Minneapolis Journal; “Bad $2 Bills Passing. The New Counterfeits Have Already Come to Light in Minneapolis.”; March 31, 1903; p. 6.

¹http://www.antiquemoney.com/value-of-1899-2-silver-certificate-mini-porthole-bill/

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