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Richmond, VA- Bank of the Commonwealth $50 July 1, 1861 G18a Jones BR15-41 PMG Choice Very Fine 35.. ...
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$720.00
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Description
Richmond, VA- Bank of the Commonwealth $50 July 1, 1861 G18a Jones BR15-41 PMG Choice Very Fine 35.Originally, this was an Independent (Free) Bank authorized by the General Assembly in 1858. Like many of Virginia's Independent Banks it opted out of that form sometime around 1860-61. That change of status is reflected on this note which has the space for the State Treasurer's countersignature neatly struck through in red ink. By 1863, the bank's circulation was secured solely by Confederate bonds. The bank had intended to hold a regular stockholders' meeting on April 12, 1865 but Richmond fell to Union forces on April 3, 1865. A fire swept through portions of the city and the bank burned to the ground; essentially ending its business. Its fate is witnessed by the fact that its notes were quoted at between 5¢ on the dollar and "no sale" in 1866-67. The $50 design features an vignette of a slave mother and child flanked by a portrait of James Monroe at left and the state banking die at right. This note was originally designed to be issued under the state's Independent (Free) Bank legislation, with a space for the State Treasurer's countersignature. However, in 1860-61 many of the state's Independent Banks decided to opt out of the system, and that decision is evidenced on this note by the fact that the signature space and title for the State Treasurer have been neatly struck through in red ink.
From The Neil A. Chiappa Collection
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Auction Info
2023 September 13 - 15 Long Beach Expo US Currency Signature® Auction #3593 (go to Auction Home page)
Auction Dates
September, 2023
13th-15th
Wednesday-Friday
Bids + Registered Phone Bidders: 4
Lot Tracking Activity: N/A
Page Views: 165
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