South Reading, Massachusetts. South Reading Bank. 1862 $3. PMG Very Fine 25.No. 90. Plate A. Heres a rarity from New England that should have been redeemed in the 1860s. Issued by the South Reading Bank which became the National Bank of South Reading (Charter# 1455) in 1865, this note somehow survived the mass redemptions that resulted from the imposition of a 10% tax on state-issued and private banknotes which disproportionately culled the issues of sound New England-based banks. Even circulation may be observed while a trio of cherubs playing atop a trio of Seated Liberty Dollars accounts for the primary vignette with two additional subsidiary vignettes seen at the left and right margins. The penned signatures of Cashier Lilley Eaton and President Thomas Emerson who served as Cashier and President of the reorganized National Bank from 1865 to 1871 may also be seen in the appropriate panels lending another desirable trait (among others) bound to please the collector who enjoys the overlap between Obsoletes and early National Bank Notes. <p>
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