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Titusville, PA- Petroleum Bank $1 Mar. 17, 1863 G2a PMG Choice Fine 15.. ...
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Description
Titusville, PA- Petroleum Bank $1 Mar. 17, 1863 G2a PMG Choice Fine 15.Given the city's famous status as the birthplace of the modern oil industry in the United States, there could be no more appropriate name for a bank than the one chosen for this one. The bank was organized in 1862 under the state's seldom used 1861 free banking laws. The failure of a New York firm, Culver, Penn & Co. had a ripple effect, forcing the Petroleum Bank to suspend on March 28, 1866. The design features a portrait of Salmon Chase flanked by two green 1 protectors. The state free banking die is at left and an oil field scene appears at bottom right. We are aware of around six issued $1s at present.
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Auction Info
2026 January 25 Winter Obsolete Currency Showcase Auction #62425 (go to Auction Home page)
Auction Dates
January, 2026
25th
Sunday
Internet/Mail Bids: 6
Lot Tracking Activity: N/A
Page Views: 157
Buyer's Premium per Lot:
22% of the successful bid per lot.
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