1 Dollar - Merchants Bank New York City, New York

The Merchants Bank in the City of New York was chartered in 1803, making it one of the earlier commercial banking institutions established in Manhattan after the Federalist-era wave of bank incorporations. Private banknote issuance by individual chartered state banks was the norm in the United States until the National Banking Acts of 1863–64 effectively taxed such notes out of existence, so this note exists within a system where hundreds of competing bank issues circulated simultaneously, often at a discount depending on the issuer's perceived solvency.

The "antiqued" paper composition noted in this lot suggests a souvenir or novelty reproduction rather than a genuine circulating note — a common item sold to collectors and tourists throughout the twentieth century.