Rochester, Minnesota. Bank of Rochester. 1859 $10. PCGS Currency Very

Rochester, Minnesota. Bank of Rochester. 1859 $10. PCGS Currency Very Fine 20 Apparent. Small Edge Split at Right; Minor Stains. No. 1113. Plate A. Organized in 1858 with a circulation staked entirely on Minnesota railroad bonds, the Bank of Rochester was little more than a mechanism to intermediate these bonds which were quickly proven to have the foundational value of sand. As a result, the Bank of Rochester refused to redeem its notes in coin and was subsequently liquidated. Outstanding notes were redeemed at barely 16 cents per dollar and less than $2,000 was left unredeemed. PCGS Currency comments "Small Edge Split at Right; Minor Stains." Estimate: $600 - $900. Provenance: From the Caine Collection. Ex. Eric P. Newman Collection.

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