Description

    Rare Kirtland Safety Society Bank $50

    Kirtland, OH- The Kirtland Safety Society Bank $50 Mar. 9, 1837 G16 Wolka 1424-16 Rust SV6
    This is 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. 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 notes bearing the original title 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 $50 denomination is one of the scarcest, and examples in any grade are seldom available. This piece, which is signed by J (oseph) Smith, Jr. and S (idney) Rigdon, is encapsulated in a PMG Very Good 10 holder. Close examination fails to establish any reason save for a handful of miniscule pinholes to account for the assigned grade, and while we seldom second guess either of the two grading services (at least in writing), we would unhesitatingly grade this original and utterly unmolested example a full Fine. Whatever the technical grade, this rare, attractive and evenly circulated example is certain to please.


    Fees, Shipping, and Handling Description: Coins & Currency (view shipping information)

    Sales Tax information  |  Terms and Conditions

    Bidding Guidelines and Bid Increments

    Glossary of Terms

    Auction Info

    Auction Dates
    Apr-May, 2010
    28th-3rd Wednesday-Monday
    Bids + Registered Phone Bidders: 5
    Lot Tracking Activity: N/A
    Page Views: 3,667

    Buyer's Premium per Lot:
    15% of the successful bid (minimum $14) per lot.

    Sold for: Sign-in or Join (free & quick)

    Heritage membership

    Join Now - It's Free

    VIEW BENEFITS
    1. Past Auction Values (prices, photos, full descriptions, etc.)
    2. Bid online
    3. Free Collector newsletter
    4. Want List with instant e-mail notifications
    5. Reduced auction commissions when you resell your
      winnings 
    Consign now
    • Cash Advances
    • More Bidders
    • Trusted Experts
    • Over 200,000 Satisfied Consignors Since 1976
    Consign to the 2018 April 25 - May 1 CSNS Currency Signature Auction - Chicago.

    Learn about consigning with us

    Thank you for your quick response. I am a member of Heritage Auctions and I am happy to say that it is truly a great platform.
    Mohammed J.,
    Durban, KZ
    View More Testimonials

    HA.com receives more traffic than any other auction house website. (Source: Similarweb.com)

    Video tutorial

    Getting the most out of search

    Recent auctions

    2017 November 1 - 2 Eric P. Newman VIII Currency Signature Auction - Dallas
    2017 November 1 - 2 Eric P. Newman VIII Currency Signature Auction - Dallas
    REALIZED $1,989,801