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In the 1860s, a third of U.S. currency was estimated to be counterfeit

AI-generated symbolic reconstruction of an old engraving press, plates and generic paper notes. It is not a historical photograph or evidence of the cited counterfeiting estimate. Generated with OpenAI image generation; no external source or reuse license applies.

AI-generated symbolic reconstruction of an old engraving press, plates and generic paper notes. It is not a historical photograph or evidence of the cited counterfeiting estimate. Generated with OpenAI image generation; no external source or reuse license applies.

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In the 1860s, thousands of private U.S. banks issued notes in many different designs. The U.S. Marshals Service cites a historical estimate that about one-third of currency in circulation was counterfeit. This is an estimate for the system of that era, not an exact count of every note.