1860s Bank of Newbury 5 Cents Merchant Scrip Note - Unissued Remainder - Vermont Obsolete - 1860s Wells River, VT Five Cent Fractional Note

This listing is for the photographed 1860s Bank of Newbury 5 Cent Unissued Merchant Scrip Remainder Note. Printed in Wells River, Vermont. Vignette of a sleeping dog next to a safe and holding a key on the left end, the head of a dog is displayed at the bottom of the note. This note was unissued, as identified by its lack of a signature, date, and serial number. Crisp Uncirculated (UNC) grade/condition, no signs of circulation! Great find with an incredibly interesting history!

These merchant scrip notes were not issued by the Bank of Newbury itself, but rather printed and used by local merchants. These scrip notes were produced with the intention of being used by customers in their purchases at the company that issued the notes, which would be written on the note itself in the blank spaces. The funds from the discounts of these scrips would be taken out of the company's account at the Bank of Newbury, which explains why the bank was written on the note itself. The Bank of Newbury was chartered in 1832. It was succeeded by the National Bank of Newbury in 1865 when they began to issue national currency in accordance with federal regulations. It was chartered with a capital of $100,000, and the stockholders voted to locate the bank in Wells River, Vermont. A building was built in 1834 in Wells River that would house the bank during its operation. The bank stopped issuing fractional notes in 1842, identifying that these notes were not issued by the bank for their use. 

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1860s Bank of Newbury 5 Cents Merchant Scrip Note - Unissued Remainder - Vermont Obsolete - 1860s Wells River, VT Five Cent Fractional Note