Description

OBSOLETE FLORIDA CURRENCY…………..Pensacola, FL- Bank of Pensacola $3 Oct. 4, 1837 G12 Benice 3 PMG Fine 12.
After several unsuccessful attempts, the Territorial Legislative Council approved the incorporation of the Bank of Pensacola on January 31, 1831. The bank opened in 1833, suspending specie payments in mid-1837. These were resumed in 1839 when the bank had a circulation of over $200,000. Predictably, the bank suspended in 1843. The $3 design has vignettes of Archimedes lifting the world with a lever, Justice, and Proserpina as well as a small vignette of a Native American paddling a canoe. This note served as the plate note on page 116 in the Benice 2008 Florida catalog.