Cut cancelled

Anthony Durney's picture

What are some reasons for any US currecy, promissory, note to be "cut cancelled?"

And are there a greater number of a specific type of notes to be cancelled?

Would the timeline/history/commecment of these cut cancelled notes also be a factor?

Thank you

Take care

Notes were cut-cancelled to show that they have been redeemed or paid out by the governing organzation that issued them. It essentially voided the note so it couldn't be redeemed a second time. You'll find notes from the Confederate States of America (CSA) were often cut-cancelled or cut-out cancelled to show they were redeemed and interest paid. The Republic of Texas notes are also often found that way. There are other notes from different countries that are sometimes punch cancelled to show the issue is no longer legal tender.