Republic of Texas Redback Notes: Collector Reality Today
Short on time? The essentials
- Authorized by the Act of January 19, 1839 under President Mirabeau B. Lamar, per the Handbook of Texas Online entry Money of the Republic of Texas.
- Nicknamed "red backs" for the red ink used on the reverse. The design features a red star and the word "Texas" between two red border ornaments (per DeGolyer Library catalog).
- Five main denominations: 5, 10, 20, 100, and 500 dollars. Plus 1, 2, and 3 dollar "change notes" capped at 150,000 dollars total. No 50 dollar redback was ever issued.
- Engraved and printed by Rawdon, Wright, Hatch & Edson, with New-York and New Orleans imprints appearing along the bottom edge (per DeGolyer Library $20 catalog entry).
- Signed on the face by the President of the Republic (Lamar) and the Secretary of the Treasury James Harper Starr, appointed by Lamar on May 25, 1839.
- New issues ran from January 1839 to September 1840. Reissues only after that. Net original issue: 2,780,361 dollars, per the Handbook of Texas.
- First traded at 37.5 cents in specie. Sank to about 2 cents on the dollar in some sections by winter 1841 to 1842. Lost tax legal-tender power in February 1842.
- Original notes survive in institutional collections including the SMU DeGolyer Library Rowe-Barr Collection of Texas Currency and the Bullock Texas State History Museum.
On this page
- What a redback actually is
- Why they are called redbacks
- The five main denominations and three change notes
- Who engraved and printed the notes
- The signers: Lamar and Starr
- How redbacks circulated from 1839 to 1842
- The specie value collapse
- What a collector actually encounters today
- Counterfeit and reproduction warnings
- Where to see originals in Texas and beyond
- After annexation: how the Republic debt was settled
- What the record does not show
- Republic of Texas redback FAQ
What a redback actually is
A redback is a paper promissory note issued by the government of the Republic of Texas under the Act of January 19, 1839. The Handbook of Texas Online summarizes the authorization in one line: the act "provided for promissory notes payable to bearer and without interest."
That single legal choice explains almost everything about the redback story. The earlier Star Money of 1837 had carried ten percent interest and was payable twelve months from date, which gave holders a reason to hold. The redback carried no interest and no maturity date. It was pure fiat paper, redeemable only by what the Treasury and the market would give for it on any given day.
The Handbook attributes the shift to the Lamar administration. Mirabeau B. Lamar had assumed the presidency in December 1838 and proposed a national bank. Congress declined and instead authorized redback issues as the funding mechanism for a government at war with Mexico and running an expensive frontier policy.
Why they are called redbacks
The name comes from the ink. The DeGolyer Library at Southern Methodist University describes the $20 redback verso in its Rowe-Barr Collection catalog entry. Two ornate designs in red ink form the left and right borders of the verso. Between them, a five-pointed star and the letters of the word "Texas" appear in red.
The Handbook of Texas confirms the shorthand was contemporary. "Called at the time 'red backs,' they were in denominations of $5, $10, $20, $100, and $500, with change notes of $1, $2, and $3." The red reverse and the black face made the note immediately recognizable on a counter, which mattered in a period when many kinds of paper money circulated side by side.
The five main denominations and three change notes
The 1839 act created two structurally different classes of paper under a single authorization. The main redback denominations were 5, 10, 20, 100, and 500 dollars. The change notes were 1, 2, and 3 dollars, capped at 150,000 dollars total. There was no 50 dollar redback and no 200 dollar redback. Those denominations belong to other Republic paper series.
The Handbook flags an important structural point about the main issue. There was no statutory ceiling on the redbacks themselves other than what appropriations required. Change notes had a firm 150,000 dollar cap. The main denominations did not.
| Denomination | Class | Statutory limit | Interest | Payable to |
|---|---|---|---|---|
| 1 dollar | Change note | 150,000 dollars cap on change notes as a class | None | Bearer |
| 2 dollars | Change note | Included in the 150,000 dollar change-note cap | None | Bearer |
| 3 dollars | Change note | Included in the 150,000 dollar change-note cap | None | Bearer |
| 5 dollars | Main redback | No cap other than appropriations | None | Bearer |
| 10 dollars | Main redback | No cap other than appropriations | None | Bearer |
| 20 dollars | Main redback | No cap other than appropriations | None | Bearer |
| 100 dollars | Main redback | No cap other than appropriations | None | Bearer |
| 500 dollars | Main redback | No cap other than appropriations | None | Bearer |
Source: Handbook of Texas Online, Texas State Historical Association, entry Money of the Republic of Texas by E. T. Miller, published 1952 and updated November 1, 1995. Checked August 2026.
The practical consequence of that structure showed up in circulation. Small change was scarce because the change-note cap held. Large-denomination redbacks were plentiful because the main issue kept expanding under Treasury pressure. The Handbook records total net original issues of 2,780,361 dollars for redbacks from January 1839 to September 1840.
Who engraved and printed the notes
The engraving contract went to Rawdon, Wright, Hatch & Edson, a leading bank-note engraving firm of the period with offices in New York and New Orleans. The DeGolyer Library catalog record for the $20 redback describes the imprints along the bottom edge of the note: "Rawdon, Wright, Hatch & Edson, New Orleans" and "Rawdon, Wright & Hatch, New-York."
The two imprints reflect the firm's structure at the time. Rawdon, Wright, Hatch & Edson was one of the predecessor houses that would later merge into the American Bank Note Company in 1858. The Republic contract was among many state and bank contracts that the firm handled from its multiple offices during the 1830s and 1840s.
The engraved bank-note format made the redback visually competitive with US state-bank notes of the same period. Fine engraving, precise borders, and distinctive vignettes were the security technology of the day. That mattered because the redback had to hold its place on a merchant's counter next to notes of banks the merchant already trusted or distrusted.
The signers: Lamar and Starr
Each redback carried two hand signatures on the face. The DeGolyer catalog record for the $20 note is explicit: "The note is signed on the recto by James Harper Starr, Secretary of the Treasury, and Mirabeau Buonaparte Lamar, President."
Starr's appointment as Secretary of the Treasury is dated in the Handbook of Texas biographical entry. "On May 25, 1839, President Mirabeau B. Lamar appointed Starr secretary of the Texas treasury." Notes signed by earlier or later Treasury Secretaries under a different administration are not part of the same 1839 redback series and should be identified as separate issues.
The signatures matter to collectors today. Genuine Lamar and Starr signatures, both applied by pen on the face, are one of the diagnostic checks a professional authenticator uses on a claimed 1839 redback. Missing signatures, remainder notes, and later reissue examples exist in the historical record and trade under different descriptions.
How redbacks circulated from 1839 to 1842
The Handbook of Texas fixes the issue window with a specific date range. "From January 1839 to September 1840, after which time no further new issues but only reissues were made, the net amount of original issues of the red backs was $2,780,361."
Redbacks moved through the everyday economy of Texas alongside US state-bank notes, Spanish colonial silver, Mexican silver, and small private "shinplasters." They also crossed borders. Republic paper circulated in New Orleans commerce, where Texas cotton was marketed, and in inland trade with Louisiana merchants who had counterparties in Galveston and Houston.
The Handbook records two turning points for circulation. In the fall of 1840 the Republic government began to pay out redbacks at market value rather than face value, a de facto admission that face was no longer the right unit. In February 1842 they lost their legal-tender power in the payment of taxes, per the same source.
The specie value collapse
The market repriced the redback almost immediately. The Handbook is direct on the entry point. "Overissue of the government notes had already gone so far that when the red backs first made their appearance, they were valued at only thirty-seven and one-half cents in specie."
The trajectory from there was straight down. "They continued to sink in value until in the winter of 1841 to 1842 they had in some sections a market value of only two cents on the dollar." Two features of that sentence matter. The low was regional, not national. And the low was in the winter of 1841 to 1842, a full two years after new issues had stopped.
The Handbook attributes the underlying problem to structural design. The main redback denominations had no ceiling except appropriations. A government with growing appropriations printed more paper to meet them. The market discounted each new dollar of face because the pool of outstanding paper kept growing.
A Galveston merchant selling 100 dollars of dry goods and paid in redbacks in early 1841 held paper that a New Orleans wholesaler might accept at 20 cents on the dollar. By winter 1841 to 1842, in some sections, the same 100 dollars in redback face could exchange for as little as 2 dollars in silver. Face value on the note said nothing about purchasing power.
What a collector actually encounters today
Genuine Republic of Texas redbacks survive in real numbers. Both institutional collections and the numismatic market carry examples, and grading services regularly certify pieces submitted by collectors and dealers. The visual family is consistent: black-ink face with the two hand signatures, a distinctive vignette per denomination, and the red reverse that gave the notes their name.
Condition varies enormously. Many surviving pieces are heavily circulated, since redbacks stayed in commerce through 1841 and continued to pass at deep discount into 1842. Higher-grade specimens exist but are notably scarcer. Cut cancellations, ink cancellations, and stub remnants also appear because the Treasury handled reissues and retirements of paper it received back.
Denomination scarcity matters to price but is only one variable. Grade, provenance, and authenticator population reports also drive the range. The market has no fixed catalog price for a Republic of Texas redback. Realized prices depend on grade, denomination, pedigree, and the auction environment on the date of sale.
Recent realized prices are checkable on public archives from Heritage Auctions (currency.ha.com) and Stack's Bowers (stacksbowers.com) as of the date the reader checks them. Any specific figure quoted here would date the moment this page was written, not the moment a reader is deciding.
Counterfeit and reproduction warnings
The counterfeiting risk on redbacks is real and comes in two distinct forms. The first is contemporary counterfeiting during the Republic itself. Sam Houston addressed the general problem in 1842 when he described the counterfeits of state bank notes and notes of failed banks circulating in Texas as, per the Handbook of Texas, "no light evils."
The second is modern reproduction. Souvenir facsimile printings of Republic of Texas notes exist, produced for the tourist and educational markets across several decades. Some are marked as reproductions on the reverse. Others are not. A piece bought from a museum gift shop, a historical-marker vendor, or a novelty catalog should be assumed to be a reproduction unless proven otherwise.
The practical defensive check for any claimed original redback is professional authentication. Two grading services in the United States (Professional Coin Grading Service Banknote and Paper Money Guaranty) issue tamper-evident holders with attribution and grade. The population reports these services publish, cross-referenced against the auction archives, are the working tool of collectors and dealers.
Do not pay redback-original prices for a piece that has not been authenticated. The educational reproductions were produced in large enough quantities that they show up regularly in estate settings, alongside genuine notes, and telling them apart from photographs alone is difficult even for experienced eyes.
Where to see originals in Texas and beyond
Original Republic of Texas redbacks are held in Texas institutional collections and in academic libraries with a Texas focus. Two named holdings are documented publicly.
The Rowe-Barr Collection of Texas Currency at the DeGolyer Library at Southern Methodist University in Dallas holds redback notes with digital catalog records. The collection includes at least the $20 and $100 denominations with high-resolution images and full descriptive metadata. The DeGolyer catalog is the primary institutional reference used on this page.
The Bullock Texas State History Museum in Austin covers the Republic of Texas period in its permanent exhibits, including the paper-money story. The Texas State Library and Archives Commission in Austin holds Republic-era Treasury Department papers and correspondence tied to the paper issues, along with primary documents that authorize and track them.
The Star of the Republic Museum at Washington-on-the-Brazos, operated by the Texas Historical Commission, holds a broad collection of pre-1850 Texas artifacts including documents. Local county historical museums along the Texas Gulf Coast and in the older river-town settlements often carry locally donated Republic paper, though not every institution publishes an online catalog.
After annexation: how the Republic debt was settled
Redbacks did not disappear at annexation. The Handbook of Texas entry on the Compromise of 1850 sets out the mechanism that eventually cleared most Republic-era obligations. The United States paid Texas 10 million dollars in exchange for the cession of its western land claims. The same settlement specified that part of the payment go to holders of Republic of Texas debt.
The Handbook notes that "holders of bonds representing the debt of the Republic of Texas lobbied hard for the bill, for it specified that part of the financial settlement be used to pay those obligations. The measure passed both houses of Congress in the late summer of 1850 and was signed by President Fillmore." Redbacks and other Republic paper were funded through the mechanism the 1850 settlement established.
The exact per-dollar rate at which individual redback holders were paid under the 1850 framework is not stated in the Handbook entry. The timing of specific redemptions is also not detailed there. Both should be researched in specialized numismatic references or in the Texas debt-claims records at the Texas State Library and Archives Commission before quoting any figure.
What the record does not show
The published institutional record on redbacks is strong on authorization, denominations, printer, signers, issuance totals, and depreciation. Several other questions collectors ask are less well documented in the sources reviewed for this page.
Total surviving population by denomination is not centrally recorded. Grading service population reports (PCGS Banknote, PMG) give the closest running count of authenticated examples. They capture only submitted pieces, not the full surviving population held in family collections and unsubmitted dealer inventory.
Specific auction realizations for individual pieces are checkable through the public archives at Heritage Auctions and Stack's Bowers on the date the reader looks. This page does not quote a specific price because a redback price is a function of denomination, grade, signature quality, provenance, and auction date, and no single figure holds across those variables.
The precise breakdown of the 2,780,361 dollar net issue by denomination (how many $500 notes were printed versus how many $5 notes) is not published in the Handbook entry. The frequently cited figure that $500 redbacks are the rarest by survival is a market observation, not a Handbook-sourced statistic.
Republic of Texas redback FAQ
What is a Republic of Texas redback note?
A redback is a non-interest paper promissory note authorized by the Act of January 19, 1839 under President Lamar. Denominations were 5, 10, 20, 100, and 500 dollars, with change notes of 1, 2, and 3 dollars. The nickname came from the red ink on the reverse, per the Handbook of Texas Online.
Why are they called redbacks?
Because the reverse was printed in red ink. The DeGolyer Library catalog describes the $20 verso as showing a five-pointed star and the word "Texas" printed in red ink between two red ornamental border designs. The face was printed in black, making the red reverse the immediate visual identifier.
Was there a 50 dollar Republic of Texas redback?
No. The redback denominations under the 1839 act were 5, 10, 20, 100, and 500 dollars, plus 1, 2, and 3 dollar change notes. The 50 dollar denomination appears in other Republic paper series (the 1837 Star Money interest notes and the 1842 exchequer bills) but not in the 1839 redback series, per the Handbook of Texas.
Who printed the redbacks?
Rawdon, Wright, Hatch & Edson, an engraving firm with offices in New York and New Orleans. The DeGolyer Library catalog for the $20 redback records the two imprints along the bottom edge: "Rawdon, Wright, Hatch & Edson, New Orleans" and "Rawdon, Wright & Hatch, New-York." The firm later became one of the predecessors of the American Bank Note Company.
Who signed the redbacks?
Each note was hand signed on the face by the President of the Republic (Mirabeau B. Lamar) and the Secretary of the Treasury (James Harper Starr). Starr was appointed to that office by Lamar on May 25, 1839, per the Handbook of Texas biographical entry on Starr.
How much is a Republic of Texas redback worth today?
Values depend on denomination, grade, signature quality, provenance, and the auction environment on the date of sale. This page does not quote a specific price because no single figure holds across those variables. Public archives at Heritage Auctions (currency.ha.com) and Stack's Bowers (stacksbowers.com) list realized prices for specific graded examples on the dates they sold.
How do I know if my redback is real?
Have it examined by a professional currency grading service. In the United States, PMG (Paper Money Guaranty) and PCGS Banknote are the two established third-party graders for paper money. They issue tamper-evident holders with attribution and grade. Modern educational reproductions of Republic notes exist and are difficult to distinguish from originals without direct expert examination.
Where can I see an original redback in a Texas museum?
Documented institutional holdings include the DeGolyer Library at SMU in Dallas (Rowe-Barr Collection of Texas Currency, with $20 and $100 redbacks catalogued online). The Bullock Texas State History Museum in Austin and the Texas State Library and Archives Commission in Austin also hold Republic material. Check each institution's current exhibits before visiting, since paper artifacts rotate for conservation.
Sources
- Handbook of Texas Online, Texas State Historical Association. Money of the Republic of Texas, by E. T. Miller. Published 1952, updated November 1, 1995. Primary source for the Act of January 19, 1839 under Lamar, the denominations of the redbacks (5, 10, 20, 100, 500 dollars plus 1, 2, 3 dollar change notes), the 150,000 dollar change-note cap, the 2,780,361 dollar net original issue from January 1839 to September 1840, the 37.5 cents in specie entry point, the 2 cents on the dollar low in some sections by winter 1841 to 1842, the fall 1840 market-value payment policy, the February 1842 loss of tax legal tender, and the Sam Houston "no light evils" quotation. tshaonline.org/handbook/entries/money-of-the-republic-of-texas. Checked August 2026.
- Handbook of Texas Online, Texas State Historical Association. Lamar, Mirabeau Buonaparte. Confirms Lamar assumed the presidency in December 1838 and that Congress authorized redback issues under his administration. tshaonline.org/handbook/entries/lamar-mirabeau-buonaparte. Checked August 2026.
- Handbook of Texas Online, Texas State Historical Association. Starr, James Harper. Confirms Starr was appointed Secretary of the Texas Treasury by Lamar on May 25, 1839, and later became a land agent for holders of Republic of Texas debts. tshaonline.org/handbook/entries/starr-james-harper. Checked August 2026.
- Handbook of Texas Online, Texas State Historical Association. Compromise of 1850. Source for the 10 million dollar United States payment to Texas in exchange for cession of western land claims, with a specified portion earmarked for holders of Republic of Texas debt, signed by President Fillmore in the late summer of 1850. tshaonline.org/handbook/entries/compromise-of-1850. Checked August 2026.
- DeGolyer Library, Southern Methodist University. Rowe-Barr Collection of Texas Currency, catalog entry for the Republic of Texas $20 (twenty dollars) "Redback" note. Source for the verso description (red ink borders, five-pointed star and the word "Texas" in red), the Rawdon, Wright, Hatch & Edson (New Orleans) and Rawdon, Wright & Hatch (New-York) imprints along the bottom edge of the note, and the signatures of James Harper Starr and Mirabeau Buonaparte Lamar on the face. degolyer.omeka.net/items/show/474. Checked August 2026.
- DeGolyer Library, Southern Methodist University. Rowe-Barr Collection of Texas Currency, index of redback holdings. Documents that the Rowe-Barr Collection contains at least the $20 and $100 Republic of Texas redback notes. degolyer.omeka.net/items/browse?search=redback. Checked August 2026.
- Texas State Library and Archives Commission, Austin. Holdings of Republic-era Treasury Department papers, correspondence, and account books relating to the paper-money issues discussed on this page. tsl.texas.gov. Checked August 2026.
- Bullock Texas State History Museum, Austin. Permanent exhibits covering the Republic of Texas period and its monetary history. thestoryoftexas.com. Checked August 2026.
- Star of the Republic Museum at Washington-on-the-Brazos, operated by the Texas Historical Commission. General collection of pre-1850 Texas artifacts including documents. thc.texas.gov/state-historic-sites/washington-brazos-state-historic-site. Checked August 2026.
- Handbook of Texas Online, Texas State Historical Association. Star of the Republic Museum. Source for the museum's holdings profile of approximately 7,500 pre-1850 Texas artifacts. tshaonline.org/handbook/entries/star-of-the-republic-museum. Checked August 2026.