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    Description

    Kirtland, OH. Kirtland Safety Society Anti-Banking Co. $2 Jan. 4, 1837 Rust 13 Wolka 1422-02 Haxby G4 PMG Very Good 10. In 1836 Mormon Church elders, led by Prophet Joseph Smith, Jr. and cashier for the bank, Sidney Rigdon, sent their designees to Columbus, Ohio to seek a state bank charter. Simultaneously, another group of elders led by Oliver Cowdery went to Underwood, Bald, Spencer & Hufty in Philadelphia in order to contract for four engraved plates, proofs, and sheet printing from the plates. Having the plates engraved and printed was easily accomplished. However, officials at the state capitol in Columbus required specie or other collateralization to protect the circulation and therefore a charter for the bank was denied. Regardless, their notes were already printed and ready to issue, so the illegitimate bank began operations without a charter. Early $1, $2, and $3 notes were rubber stamped "Anti-(Bank)ing Co." in diminutive letters within the bank title in order to comply with or skirt the law, depending on one's viewpoint. Also, the "Cashr." and "Prest." titles were blacked out. The lack of specie caused the bank's failure during the Panic of 1837 and was a large factor in the Mormon migration from Ohio to their eventual settlement in Salt Lake City. The example in this lot is without any repairs or significant impairments. Overall, it is a very nice representative for the third party grade.

    Auction Info

    Auction Dates
    March, 2020
    4th Wednesday
    Bids + Registered Phone Bidders: 11
    Lot Tracking Activity: N/A
    Page Views: 611

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