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    Description

    Kirtland, OH- The Kirtland Safety Society Bank $1 March 9, 1837 G2 Rust 4 Wolka 1424-02
    The first of a nearly complete denomination set from this bank, quite likely the most avidly collected of any issuer of obsolete currency due to its connection 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 to circulate. Despite the 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. Within a few months that ruse was abandoned, and the notes that are 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, which failed in November of that year. Eventually Smith and Rigdon were each fined $1000 for their unauthorized banking venture. The $1 and $3 denominations are scarce and seldom offered, and this piece is a problem free Fine-Very Fine specimen considerably closer to the higher grade than the lower.


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    Auction Dates
    January, 2006
    5th-7th Thursday-Saturday
    Bids + Registered Phone Bidders: 12
    Lot Tracking Activity: N/A
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