5 Dollars

St. Stephen, New Brunswick was a small border town directly across the St. Croix River from Calais, Maine, and that geography shaped how its local banknotes actually functioned. In the 1850s and 1860s, the two communities operated with such economic integration that American and Canadian currency circulated interchangeably on both sides — a practical arrangement that persisted long after it should have, legally speaking.

The American Bank Note Company handled a substantial portion of Maritime provincial bank printing at this period, which accounts for the New York origin. St. Stephens Bank itself was a modest chartered institution; notes from it surface rarely, and Pick 1417 suggests a very limited series.