1862 The Farmers & Mechanics Bank of Milford $1.00 Note

1862 The Farmers & Mechanics Bank of Milford $1.00 Civil War Era Obsolete Note. Obsolete banknotes are also known as “broken banknotes” or “wildcat notes.” Before there were National banknotes many private banks issued their own paper money without US Government backing. Many of these notes became worthless when the banks closed. Many of them were counterfeited and altered. When the national bank system was created, privately issued paper money was taxed to the point of being effectively outlawed. Unlike US Government paper which has always remained legal tender, obsolete banknotes are now... obsolete.

$295.00 plus $7.00 shipping & handling.