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    Kirtland, OH- The Kirtland Safety Society Bank $1 Jan. 7, 1837 G2 Wolka 1424-02 Rust 4
    The first of three different denominations issued by Joseph Smith and others tied closely to the early Mormon Church. The bank was organized by Joseph Smith and other church elders in late 1836, and currency plates were prepared almost immediately for the bank's notes. Despite the bank's charter being rejected by Ohio banking authorities, notes were issued starting in January of 1837, with the insertion of the words "anti-bank" into the title, which can be seen on the rare $3 example offered below. Shortly thereafter that ruse was abandoned, and notes such as this $1 and the $5 that is offered below began to flow out of the bank. By May of 1837 the bank was refusing to redeem its notes for specie, causing the issue to be severely discounted, and by June of 1837 Smith severed his association with the bank. The bank failed in November 1837, and eventually, after considerable litigation, Smith and Rigdon were each fined $1000 for their unauthorized banking venture. The smaller denominations are quite scarce, with the last $1 offered almost two years ago. This piece is an attractive evenly circulated example with bold signatures of J (oseph) Smith and S (idney) Rigdon. We sold a Fine example in 2008 for $3800, and this considerably nicer Very Fine specimen should bring even more tonight.


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    Auction Info

    Auction Dates
    January, 2010
    7th-11th Thursday-Monday
    Bids + Registered Phone Bidders: 6
    Lot Tracking Activity: N/A
    Page Views: 480

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