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    Description

    Fayetteville, AR- Bank of the State of Arkansas $5 Feb. 22, 1840 G142 Rothert 186-1
    The Fayetteville branch of the Bank of the State of Arkansas was at the epicenter of mismanagement and outright fraud that characterized the operations of this state owned institution until its closure in 1843. Defalcations by its officers, utter mismanagement, and a lack of specie doomed this institution, but not before financial ruin was dealt out to thousands of unwitting victims who accepted this bank's worthless paper or made the mistake of lodging their savings within its vaults. This bank's failure, as well as that of the Real Estate Bank of the State of Arkansas, solidified anti-bank sentiment in the state to the degree that banks were actually outlawed in Arkansas from 1846 through the Civil War. PCGS Very Fine 20.


    Auction Info

    Auction Dates
    January, 2013
    9th-14th Wednesday-Monday
    Bids + Registered Phone Bidders: 5
    Lot Tracking Activity: N/A
    Page Views: 251

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