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Westerly, RI- Phenix Bank Spurious $5 Jan. 1, 1854 S10 Durand 2498 PMG Very Good 10.. ...
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$124.00
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Description
Westerly, RI- Phenix Bank Spurious $5 Jan. 1, 1854 S10 Durand 2498 PMG Very Good 10.The bank was incorporated in 1818 and conducted a relatively quiet business until December 1850 when it was robbed of $16,000. The bank ordered new plates and repudiated its previously issued notes unless they could be proven to be legitimately issued and not part of the robbery. This note is a spurious design, unlike any $5 issued by the bank. An allegorical woman is seated at center surrounded by symbols of agriculture, commerce, and industry. William Henry Harrison's portrait appears at bottom left and Commerce is seated at lower right. A small steam powered vessel vignette and a large red FIVE protector appear at lower center. The workmanship is substandard, but would have fooled the careless or unknowledgeable. PMG notes that this example has evidence of previous mounting on the back. Some sources suggest a surviving population of around 3-4 notes, which seems about right, with this being the only example we have offered.
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Auction Info
2025 July 27 Summer U.S. Currency Obsolete Banknotes Showcase Auction #62406 (go to Auction Home page)
Auction Dates
July, 2025
27th
Sunday
Internet/Mail Bids: 5
Lot Tracking Activity: N/A
Page Views: 75
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