A Remarkable Piece of Michigan's Early Financial History

This listing offers a remarkable and historically significant piece of American financial history. It is an 1835 One Dollar banknote from the Bank of Washtenaw in Ann Arbor, Michigan. Issued during the era of Wildcat Banking, this note is a genuine artifact from a time when local banks printed their own currency, before the establishment of a unified national system.

This obsolete banknote, often referred to as a broken bank note, is a tangible connection to the short-lived but historically significant first bank in Ann Arbor.

Historical Context: The Bank of Washtenaw

The Bank of Washtenaw was established in 1835, the same year this note was issued. It was founded by a group of prominent local men, including James Kingsley, Volney Chapin, and William Thompson, and operated from a building that still stands today.

The bank was formed during a period of liberal banking laws that allowed citizens to open banks with very little capital. While this led to a proliferation of banks, it also created an unstable financial system.

The Wildcat Era

From 1790 to 1863, it was common for states and private banks to issue their own currency. This currency was backed by the hard money, gold and silver, the bank had on deposit and was typically only used locally where the bank was trusted.

The Bank of Washtenaw was a product of this era. However, the bank quickly collapsed, and by 1847, its building was sold and converted into a private home. Its currency, like that of many banks that failed during the Panic of 1837 and other financial panics, became known as obsolete or broken bank notes. These notes are now highly collectible pieces of American history.

Design and Features

The 1835 One Dollar note from the Bank of Washtenaw features the classic, detailed engravings of the period. The obverse features a vignette of two allegorical maidens at the center, an Indian hunter depicted on the left side of the note, and a vertical vignette of an early passenger train on the right, a symbol of progress and modernity for the era. Between the signature lines is a charming vignette of a dog guarding a strongbox and key, a symbol representing fidelity and security. The note was likely printed by a prominent banknote company of the era, similar to other notes from the Bank of Washtenaw that were produced by firms like Draper, Toppan, Longacre and Company.

Product Specifications

Year: 1835
Denomination: 1 Dollar
State: Michigan
City: Ann Arbor
Bank: The Bank of Washtenaw
Type: Obsolete, Broken Bank Note
Printer: Draper, Toppan, Longacre and Company, attributed
Condition: Extremely Fine, with good detail and original surfaces for its age

Why This Note Deserves a Place in Your Collection

This is a piece of early Michigan history, a genuine artifact from Ann Arbor's first bank, established in 1835. It represents the Wildcat Banking era, a tangible piece of America's chaotic pre-Civil War financial history. It features beautiful engraving, with intricate and artistic vignettes typical of nineteenth-century banknotes. Most of all, it is an obsolete currency, a collectible broken bank note from a bank that no longer exists, making it a piece of history that cannot be replicated.

This note is more than currency. It is a genuine artifact from Michigan's early financial history, offering a rare glimpse into the era of Wildcat Banking and the first bank in Ann Arbor. For the discerning collector, it represents a truly significant and desirable acquisition.

The auction is live. Notes of this caliber do not appear often. Place your bid and secure this remarkable piece of history for your collection.

Dimensions:
Height 3, Width 7, Depth 0.01 inches
Weight 0.1 oz

Condition:
Good - Exhibits typical wear from age and handling, including creases, minor tears, and discoloration. Some pencil writing and a red stamp are visible on the front.

Your purchase is protected:
In the rare event that the item did not conform to the lot description in the sale, Chairish Auctions specialists are here to help. Buyers may return the item for a full refund provided you notify Chairish Auctions within 5 days of receiving the item.

• Low Estimate: 50.00
• High Estimate: 150.00