Description

    Gallipolis, OH- Bank of Gallipolis $5 Aug. 9, 1839
    The bank was one of Ohio's more spectacular failures. It was opened by New York speculators in 1839, utilizing an 1817 charter that had never been activated. With its president in jail and its cashier on the run with the bank's already minimal specie reserves, the bank issued more than $1,000,000 in notes and had another $802,000 ready to go in the vault. Needless to say, the losses were staggering. This example grades Fine-Very Fine.


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    Auction Dates
    April, 2016
    19th-26th Tuesday-Tuesday
    Internet/Mail Bids: 6
    Lot Tracking Activity: N/A
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