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10 Cents Lyons Bank

Issuer Lyons Bank
Year 1862
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Reference(s) Kappen#H19
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Reverse description The reverse is dominated by a large green geometric spiral guilloche rosette with a central inscription panel. Two smaller matching guilloche rosettes bearing the numeral 10 are positioned to the left and right of the central motif.
Reverse lettering THE REDEMPTION OF THIS CHECK IS SECURED BY DEPOSITE OF BOND IN BANK PRESIDENT LYONS BANK.
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Comments

Lyons Bank was a small state-chartered institution in Lyons, New York — one of hundreds of minor banks operating under New York's Free Banking Act of 1838, which allowed virtually any group meeting the bond-deposit requirement to issue their own paper currency. By 1862, these small-denomination notes were filling a real gap: the outbreak of the Civil War had driven silver and copper coinage almost entirely out of circulation as hoarding accelerated.

Henry Seibert & Bros. operated out of New York City and handled a substantial volume of work for smaller upstate banks during this period. The Kappen reference places this firmly in the obsolete banknote literature for Wayne County issues.

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