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Lafayette, IN- Pioneer Association $5 Wolka 359-3 Proof. ...
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Lafayette, IN- Pioneer Association $5 Wolka 359-3 ProofNotes from the Pioneer Association were one of Indiana's greatest "exports" during the 1850s. The Pioneer Association had led a very short life (if indeed it ever opened) and soon enterprising entrepreneurs began altering notes to appear to be those of perhaps a hundred different banks that were still in business in a large number of states. In fact, a fascinating collection can be put together of altered notes which started out as issues of this defunct institution. PMG grades this note Uncirculated 60. The tears that are noted on the back of the holder refer to the two punch holes that have pulls. The note is misattributed to Pennsylvania on the holder because the state name was abbreviated to "Ia" on this plate and looks similar to "Pa". The other denominations from this firm spell out the state name and so there is no doubt regarding this misattribution.
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