The Union Bank of Florida was established in 1833. After acquiring the assets of the Central Bank, the bank could not make its interest payment obligations in 1841 and ceased active operations the following year. The legislature suspended the bank in 1843 and initiated steps to liquidate its assets. Most of the bank’s demand notes were redeemed with the proceeds from the liquidation. The $10 design features vignettes of a steamboat passing a wagonload of cotton bales at center, the early Native American leader Nehamathla at left, and Venus with an eagle at right. A small passenger train appears at bottom center. PMG mentions a repair which is a patched spindle hole near the center of the note just to the left of the F in FLORIDA in the bank title. Rare, with Benice estimating a surviving population of 4-12 notes.
Tallahassee, FL- Union Bank of Florida $10 Jan. 21, 1835 G10 Benice 56 PMG Choice Fine 15.
$375.00
