10 Thalers

The Kurhessische Leih- & Commerzbank was a state-backed institution operating in Electoral Hesse (Kurhessen), one of the smaller German states that would be forcibly annexed by Prussia in 1866 following the Austro-Prussian War. Notes issued before that annexation became effectively obsolete almost immediately — the Prussian-dominated North German monetary system was not interested in accommodating Hessian paper. This note predates that political collapse by eleven years, issued when the bank still had every reason to believe in its own continuity.

The Thaler denominations from this issuer are genuinely scarce in any form. The Pick S-prefix placement confirms it was catalogued among private and semi-private bank issues rather than central government paper.