Portland, Maine. International Bank. 18xx $3. PCGS Currency About

Portland, Maine. International Bank. 18xx $3. PCGS Currency About New 53. Remainder. No. None. Plate A. A distinct rarity from the likes of Portland. This Remainder attributable to the International Bank stands as a tantalizingly rare remnant of a bank that chartered in 1859 and was one of the last Obsolete-issuing banks to be chartered in Maine before the National Banking Acts. This institution was organized with an initial operating capital of $250,000, but that figure ballooned to a high of $750,000 in 1861. By 1867, it was estimated that approximately $7,951 was left outstanding but the bank continued to redeem outstanding obligations well past the limit of legal liability in 1867. A total of (6) rounded POCs are concurrent with the signature panels. This institution ultimately became the First National Bank of Portland (Charter# 221) in 1864. PCGS Currency comments "Hole Punch Cancelled." Estimate: $800 - $1,200. Provenance: From the Caine Collection.

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