St. Peter, Minnesota. Peoples Bank. 18xx $5. PMG Choice Very Fine

St. Peter, Minnesota. Peoples Bank. 18xx $5. PMG Choice Very Fine 35. Remainder. No. None. Plate A. A rarity among the Minnesota banks that were active in 1859. The Peoples Bank of St. Peter managed to survive attempted runs and lived to become the Second National Bank of Saint Paul (Charter# 725) in 1865. The circumstances of that run and the reasons behind its survival can be traced to the astute maneuvers of Delos A. Monfort who succeeded in acquiring almost the entire specie reserve of the Nicollet County Bank which saw the Peoples Bank redeem its notes at par while others could only redeem their notes at a fraction of the face value they represented often as part of the liquidation process. Estimate: $150 - $250. Provenance: From the Caine Collection.

Estimate:£67.96

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