Milford, Delaware. Farmers & Mechanics Bank of Milford. 1864 $10.

Milford, Delaware. Farmers & Mechanics Bank of Milford. 1864 $10. PMG Very Fine 25. No. 161. Plate A. Offered here is an issued rarity from Delaware dating to the 1860s. The Farmers & Mechanics Bank of Milford incorporated in 1859 with an authorized capital of $50,000 with 2,000 shares in bank stock priced at $25 each. The bank was intended to operate for a period of 20 years, but on August 14, 1864, the bank was robbed which resulted in the bank directors sending a telegram to the Bank of North America in nearby Philadelphia to refuse payment of any notes that were presented. This institution ultimately closed in 1867 and most surviving notes on this institution are represented by lower denominations. Estimate: $400 - $600. Provenance: From the Caine Collection.

Estimation:€213.15

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