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10 Cents Cooper, Thompson & Co.
| Issuer | Cooper, Thompson & Co., Bankers |
|---|---|
| Year | 1862 |
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| Composition | Paper |
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|---|---|
| Obverse lettering | Cooper, Thompson & Co. BANKERS Pay the bearer TEN CENTS in current Bank notes when presented in sums of One or more Dollars Jackson, Mich, Dec 1st, 1862. |
| Reverse description | Blank. |
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| Comments |
Cooper, Thompson & Co. was one of dozens of private banking firms issuing fractional scrip during the acute small-change shortage that followed the hoarding of specie in 1862 — a direct consequence of Civil War uncertainty driving coins out of circulation almost overnight. Congress had not yet authorized postage currency or fractional notes, leaving a vacuum that local bankers, merchants, and transport companies rushed to fill with their own paper. The legality of these emissions was always questionable, and federal suppression came swiftly enough that most circulated for less than two years.
Sage, Conn & Co. of Buffalo were prolific printers of this genre across the northern states, producing for numerous issuers from the same facility in rapid succession.