A PRESIDENT Abraham Lincoln an estimated ,000 IN MACERATED MONEY FULL LABEL==

Description

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Bust of President Abraham Lincoln Macerated Currency.
A bust of President Lincoln
measuring approximately 4.5 inches across,
5.25 inches high, and 3.25 inches deep.
Being a dark bust puts it in the pre-1908
category for macerated currency.
This example has a full label on the bottom
that tells us that an estimated ,000
in macerated currency went into
the manufacture of this bust of our sixteenth president.
ABOUT MACERATED CURRENCY
Paper currency did not come into general use until the Civil War.
An act of Congress in 1862 authorized the Treasury Department
to come up with a method for destroying old paper notes
that were no longer fit for circulate.
Between 1874 and 1942, the Federal Reserve disposed
of worn-out currency by soaking it into a pulp.
Enterprising people, who may have been early recyclers,
discovered that the pulp could be used like
papier-mache to form shapes.
Souvenir companies bought macerated paper by the ton
and the graded greenbacks were reborn.
The process was discontinued
when the Federal Reserve started burning old bills.
Sometimes, the item was labeled
with how much money was used to make the piece such as,
"Made of U.S. National Greenbacks
redeemed and macerated at the U.S. Treasury, estimated ,000."
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