United States 1830s - Pennsylvania, Philadelphia - Penn Township Savings Institution 10 Cents Proof (Unlisted)
The text of the instrument reveals its purpose: a depositor places ten cents with the institution, which promises repayment with interest at two percent per annum, or redemption on demand once the accumulated balance reaches five dollars in current bank notes. Such certificates allowed working-class depositors to save in extremely small increments, effectively functioning as an early micro-savings system decades before formal savings accounts became widespread. Read more →
United StatesObsolete Proof Note183010 CentsProof (Unissued) Obsolete ProofPick UnlistedUnlistedSavings Deposit CertificateFractional Savings NoteEarly Micro-SavingsMortgage Backed DepositWilliam Penn PortraitPenn Township Savings InstitutionPhiladelphia Banking HistoryMutual Savings BankUnderwood Bald Spencer & HuftyAmerican Security PrintingPre-American Bank Note Company Engraving19th Century EngravingUnited StatesPennsylvaniaPhiladelphia1830s10 CentsObsolete CurrencyEarly American BankingMuseum Grade
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