{"product_id":"1855-bank-of-the-republic-1-dollar-rhode-island-obsolete-note-very-good-vg-1855-ri-republic-bank-one-dollar-obsolete-note-copy","title":"1860s Bank of America 5 Dollar Rhode Island Obsolete Note - Uncirculated Remainder - 1800s RI Bank of America Five Dollars Obsolete Note","description":"\u003cp\u003eThis listing is for the photographed 1860s Bank of America Rhode Island 5 Dollars Obsolete Banknote. This is an uncirculated remainder, featuring no signatures or date since it was never issued during the bank's operation. The note itself was patented on April 23rd, 1860, as identified by the patent date printed at the lower center of the notes design. The obverse of this note features an allegorical woman representing Liberty standing on the left end, a portrait of a man at the right center, and an anchor sat against a rock on the right end. Uncirculated (UNC) grade\/condition, no signs of circulation, crisp note! Excellent rarer note that that has an interesting history!\u003c\/p\u003e\n\u003cp\u003eObsolete 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.\u003c\/p\u003e\n\u003cp\u003eThe Bank of America of Providence, Rhode Island, was established in May of 1851. The bank's original location was in the Duncan's building at 48 Broad St in Providence, RI. They were founded with a capitol of $132,950. In 1867 they moved to 62 Weybosset St in Providence. They reorganized to the Bank of America Loan and Trust Company in 1890. In 1894 they changed their name to the Union Trust Company. The rest of the bank's history through the 20th and 21st century consists of numerous merges and name changes until 2005 when the company was bought by the Bank of America of South Carolina, which is the nationwide bank still operating under that name today. There were several local banks throughout the country in the 19th century that had the name \"Bank of America\", many of which merged into the larger nationwide bank in the 20th and 21st century. \u003c\/p\u003e\n\u003cp\u003eThanks so much for stopping by!\u003c\/p\u003e\n\u003cp\u003e1860s Bank of America 5 Dollar Rhode Island Obsolete Note - Uncirculated Remainder - 1800s RI Bank of America Five Dollars Obsolete Note\u003c\/p\u003e","brand":"Treasure Hunter Co","offers":[{"title":"Default Title","offer_id":53287014695209,"sku":"OC-RI-BoA-1860s-5D-UNC","price":125.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0793\/1540\/3049\/files\/cloe618-096.png?v=1782340902","url":"https:\/\/treasurehunterco.com\/ru\/products\/1855-bank-of-the-republic-1-dollar-rhode-island-obsolete-note-very-good-vg-1855-ri-republic-bank-one-dollar-obsolete-note-copy","provider":"Treasure Hunter Co","version":"1.0","type":"link"}