Mankato, Minnesota. Farmers Bank. 1862 $2. PMG Very Fine 30. Serial

Mankato, Minnesota. Farmers Bank. 1862 $2. PMG Very Fine 30. Serial Number 5. Remainder. No. 5. Plate A. Part of a chain of three banks that organized across Minnesota under the Farmers Bank title during the late 1850s and 1860s. The first iteration of the Farmers Bank was organized in Garden City in 1858 and ultimately closed redeeming most of its outstanding obligations with the Minnesota State Auditor's office which left $972 unredeemed. This would not be the end of the Farmers Bank as a second bank was organized in Mankato in 1862. The Farmers Bank never issued its notes from Mankato and $85,000 in Remainders was destroyed under the purview of the State Auditor as a result. However, at least two $1 - $2 - $3 - $5 format sheets of Remainders survived on the Mankato-based iteration of the Farmers Bank through some unknown means. PMG comments "Spurious Signatures." Estimate: $800 - $1,200. Provenance: From the Caine Collection. Click here for certification details from PMG.

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