Description

    Gallipolis, OH- The Bank of Gallipolis $5 (2) Aug. 9, 1839 G2; UNL Wolka 1171-04; -05
    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 lot comprises two notes, the standard $5 issue and another with "IN CURRENT BANK NOTES" printed just below the bank title and then blacked out. The standard design note grades Very Fine-Extremely Fine while the blacked out text version grades Fine.
    From The Wendell Wolka Collection


    View all of [The Wendell Wolka Collection ]

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    Auction Dates
    April, 2014
    23rd-28th Wednesday-Monday
    Internet/Mail Bids: 5
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