RARE 1858 Windham County Bank 5 Dollar Vermont Obsolete Note - Issued Red Note - 1858 Brattleboro Vermont Five Dollar Banknote

This listing is for the photographed 1858 Windham County Bank 5 Dollar Brattleboro Vermont Obsolete Banknote. Obsolete notes from the Windham County Bank are rare finds, making this a highly sought after find! The note was issued on March 1st, 1858. This is a red tinted note, differentiating it from the rarer green tinted variety. The note features a vignette of a Native American man on the left end, and two horses flanking the state seal with the state house and town in the background at the center. Extremely Fine (XF) grade/condition, some minor folds and other signs of circulation, crisp note! Great, rare piece of history! Perfect addition to any collection.

Obsolete bank notes are also called "broken bank notes." In the days prior to the Federal Reserve, any bank could produce currency for use by the clients and members of the community. Unfortunately, not many safeguards were taken to ensure that banks stood behind the currency they were producing and circulating. Banks, more often than not, failed and their currency was rendered worthless. As a result, most bank notes of the period did not trade at their full retail value. Oftentimes notes were worth 50 cents on the dollar because the public expected the banks to fail.

The Windham County Bank was incorporated by the Vermont state legislature in 1856 in Brattleboro, VT. They were founded with a capital stock of $150,000 that was to be divided into 3,000 shares of $50 each. The shares were all bought and the capital stock was paid in full by the end of 1856, and on January 13th, 1857, the bank was officially organized and began operations in Brattleboro. Operations remained consistent through the end of the decade until 1864, when the board of directors began planning the transition of the bank from a local institution to a National Bank in compliance with the National Banking Act of 1865. The bank's stockholders agreed to convert their capital stock into shares for the newly chartered First National Bank of Brattleboro, which officially replaced the Windham County Bank on May 17th, 1864. The national bank later closed in 1881. 

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RARE 1858 Windham County Bank 5 Dollar Vermont Obsolete Note - Issued Red Note - 1858 Brattleboro Vermont Five Dollar Banknote