THE CAINE COLLECTION OF OBSOLETE BANKNOTES

Richmond, Virginia. Bank of the Commonwealth. 1861 $100. PMG Very Fine 30. No. 627. Plate A. Chartered in 1858, the Bank of the Commonwealth was ultimately short-lived and the bank's charter was repealed in 1861. The Bank of the Commonwealth nonetheless continued operations until 1865 when the bank's offices were burned when Union forces during the so-called "Evacuation Fire" which consumed much of downtown Richmond. Today notes on this institution are recognized as rarities and the Whitman Encyclopedia of Obsolete Paper Money Vol. 8 notes that "the $20, $50, and $100 denominations will pose any serious challenge to obtain." Bidders should also note that the Treasurer's signature line is cancelled on this particular specimen.

Estimate: $300 - $500.

To read the complete item description, see:
Richmond, Virginia. Bank of the Commonwealth. 1861 $100. PMG Very Fine 30. (https://auctions.stacksbowers.com/lots/view/3-1SWQ2Y/richmond-virginia-bank-of-the-commonwealth-1861-100-pmg-very-fine-30)

Malden, Virginia. Kanawha Bank. 18xx $10. PMG Very Good 10. Remainder. No. None. Plate A. Settled in 1814, the area that eventually became Malden was originally known as Kanawha Saline owing to area salt wells. The Bank of Malden was organized roughly 25 years later in 1839 and ultimately moved locations in 1858 and rechartered becoming the Bank of Charleston. At most two-dozen pieces are believed to be outstanding on this institution per the Whitman Encyclopedia of Obsolete Paper Money Vol. 8.

Estimate: $500 - $1,000.

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Malden, Virginia. Kanawha Bank. 18xx $10. PMG Very Good 10. Remainder. (https://auctions.stacksbowers.com/lots/view/3-1SWQ1L/malden-virginia-kanawha-bank-18xx-10-pmg-very-good-10-remainder)

Front Royal, Virginia. Bank of Manassa. 1859 $10. PMG Very Fine 20. No. 490. Plate A. Chartered in 1853, the Bank of Manassa was founded by a local merchant by the name of Edward B. Jacobs who would also serve as the bank's President through 1859 when the bank closed its doors following repeated withdrawals that emptied the bank's coffers. This relatively sudden failure is attributed to the threat of impending conflict per the Whitman Encyclopedia of Obsolete Paper Money Vol. 8. The Whitman text further mentions that the bank's empty safe was discarded in 1935 as fill for a parking lot when the building was gutted and converted to a drug store, but this little tidbit fails to strike at the rarity issued notes pose collectors. In fact, most known notes on this bank are represented by fragments on city-issued notes that were pressed into circulation during the early 1860s as the American Civil War drained specie from circulation making this a rare opportunity to be had for the collector looking to compose a denomination set for this institution.

Estimate: $400 - $600.

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Front Royal, Virginia. Bank of Manassa. 1859 $10. PMG Very Fine 20. (https://auctions.stacksbowers.com/lots/view/3-1SWQ0B/front-royal-virginia-bank-of-manassa-1859-10-pmg-very-fine-20)

Sandwich, New Hampshire. Carroll County Bank. 1855 $1. PCGS Currency About New 53 Apparent. Stains; Minor Edge Damage; Mounted on Cardstock. Proof. Plate B. Imprint of W.L. Ormsby. New York. A functional demonstration of Ormsby's unit system discussed by Peter Huntoon in the article "Ormsby's Unit System & Series of 1896 Educational Silver Certificates" in Paper Money. This Obsolete Proof features an interlocking allegorical assemblage with overlaid "ONE" counters evident at various points while the bank title and guarantee text may be found in non-traditional positions. An unidentified male portrait may be seen at right below "NEW HAMPSHIRE" while no cancellations may be observed in the signature panels. This institution ultimately became the short-lived Carroll County National Bank (Charter# 1071) in 1865. PCGS Currency comments "Stains; Minor Edge Damage; Mounted on Cardstock."

Estimate: $2,000 - $3,000.

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Sandwich, New Hampshire. Carroll County Bank. 1855 $1. PCGS Currency About New 53 Apparent. Stains; Minor Edge Damage; Mounted on Cardstock. Proof. (https://auctions.stacksbowers.com/lots/view/3-1SWP6I/sandwich-new-hampshire-carroll-county-bank-1855-1-pcgs-currency-about-new-53-apparent-stains-minor-edge-damage-mounted-on-cardst)

Madisonville, Mississippi. Bank of Madison County. 1844 $100. PMG Choice Fine 15. Remainder. No. 1237. Plate A. Even the Whitman Encyclopedia of Obsolete Paper Money Vol.7 says little about this enigmatic institution which perhaps failed during the early 1840s. Between the amount of Remainders plated in the Whitman text and the comment from PMG, it is very possible that this piece was falsely circulated. PMG comments "Ink Falsely Added."

Estimate: $300 - $500.

Whitman Plate Note.

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Madisonville, Mississippi. Bank of Madison County. 1844 $100. PMG Choice Fine 15. Remainder. (https://auctions.stacksbowers.com/lots/view/3-1SWORF/madisonville-mississippi-bank-of-madison-county-1844-100-pmg-choice-fine-15-remainder)

Newark, Delaware. Bank of Newark. 1856 $2. PMG Very Fine 20. No. 786. Plate A. Incorporated in 1853, the Bank of Newark ultimately folded in 1865 and became the National Bank of Newark (Charter# 1536) which lingered until 1913. Today notes on this institution are considered "exceptionally rare" in the proverbial eyes of reference material such as the Whitman Encyclopedia of Obsolete Paper Money Vol. 8 where this very note stands as the only issued note from this bank plated in that text.

Estimate: $400 - $700.

To read the complete item description, see:
Newark, Delaware. Bank of Newark. 1856 $2. PMG Very Fine 20. (https://auctions.stacksbowers.com/lots/view/3-1SWN4A/newark-delaware-bank-of-newark-1856-2-pmg-very-fine-20)

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