United States 1830s — Pennsylvania, Philadelphia — Penn Township Savings Institution 10 Cents Proof (Unlisted)
This engraved proof note was prepared for the Penn Township Savings Institution of Philadelphia, Pennsylvania, during the early 1830s. Rather than serving as circulating currency, the document represents a fractional savings deposit certificate issued by one of the many mutual savings institutions that emerged in American cities during the early nineteenth century. 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. ... Read more →
United StatesObsolete Proof Note183010 CentsProof (Unissued) Obsolete ProofSavings 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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