10 Francs

Die Bank in Glarus was one of several cantonal free banks operating under Switzerland's decentralized monetary system before the Federal Banking Act of 1881 and the eventual consolidation that produced the Swiss National Bank in 1907. During the mid-nineteenth century, individual cantons and private institutions issued their own notes with little federal oversight, and Glarus — a small, industrialized canton hit hard by emigration pressures in the 1840s — was no exception.

Pick S326 is a private bank issue in the truest sense. Notes from the smaller Swiss cantonal banks of this period were frequently redeemed and destroyed as consolidation proceeded, making survivors genuinely uncommon.