Description

Jacksonville, FL- Bank of Jacksonville $2 18__ G4 Benice 2B Remainder PCGS Very Choice New 64PPQ.
The Bank of Jacksonville suspended specie payments in 1838 and things went downhill from there, with the bank’s president vanishing in 1839, leaving only $132 in the vault. In early 1841, the Legislative Council finally got around to demanding that the Governor revoke the bank’s charter. In October 1841, a group of out-of-state bankers bought up all of the remaining unissued notes and then offered to redeem any outstanding notes with 1.5% interest. They then proceeded to place fraudulently signed notes bearing the signatures of L.M. Alverson and J.B. Morgan in circulation. This deception was quickly discovered and the bank once and for all collapsed. This note bears those fraudulent signatures, but is a remainder and never made it into circulation before the scheme collapsed. The note features a barnyard scene and eagle and shield flanked by a vignette of a blacksmith at work and a portrait of Andrew Jackson.