St. Louis, MO - \"I\" C. Rivers, Banker \"Promise to Pay\" 5 Cents Dec. 15, 1862. PCGS Very Fine 30. A very rare, fully issued 5 cent private scrip note issued by Campbell Rivers. C. Rivers, Banker, was located at the corner of 3rd and Pine St., St. Louis, which is printed on each note. Rivers printed and circulated 5, 10, 25, and 50-cent notes, and all denominations are in the Newman Collection. Although Rivers opened the City Savings Bank in 1863, no notes have been seen with that title, and he is not listed in city directories after 1864. The interesting legal term \"defalcation,\" meaning \"misappropriation,\" is on each note. All denominations share a common style and were printed on white bond paper by A. McClean lith. With a simple text and obligation across the note and an ornate numerical die in the center. The green undertint comprises a seated half dime reverse at left, \"5\" protector over the die, and 1860 half dime obverse at right. The green at the left end outlines a white FIVE. The legal obligation states: \"I PROMISE TO PAY BEARER without defalcation or discount when presented in sums of one Dollar or its multiple.\" Signed and dated in red. This is another issuer we have not previously cataloged. There were no examples in the in the Lawrence R. Stack or George Hatie (February 1998 Smythe sale) coin-vignetted Obsolete note collections. Superior to the 1981 Vacca lot 500 note that realized $315. A beautiful issued note with a sharp signature. An interesting series and important private banker issue. This might be the finest issued Rivers note known. Ex: Eric P. Newman Numismatic Education Society \n\n
From Newman VIII (Heritage Auctions, 11/2017), lot 28517, realized $288. Image and description courtesy of Heritage Auctions, https://ha.com.
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