Description

OBSOLETE FLORIDA CURRENCY…………..

Jacksonville, FL- Bank of Jacksonville $1 18__ G2 Benice 1B Remainder PMG Choice Uncirculated 63 EPQ.
The bank was incorporated in 1835 but did not have stock sales until 1837. The bank suspended specie payments and stopped filing required reports in 1838. There were reports in 1839 that the bank’s President had vanished, leaving only $132 in the vault. In 1841, a scheme was hatched by a group of northern bankers to revive the bank but it was soon discovered that, once the bank’s reputation had been revived, a new issue of notes with fraudulent signatures had been placed in circulation. Not surprisingly, the bank quickly collapsed when this fraud was discovered. This note, which was intended to be part of this fraudulent issue with the Cashier signature of L.M. Alverson, served as the plate note on page 80 in the 2008 Benice Florida catalog.