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5 Dollars Bank of Philippi

Issuer Bank of Philippi
Year 1861
Type Local banknote
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Obverse lettering STATE OF VIRGINIA THE BANK OF PHILIPPI Promises to pay FIVE dollars to bearer on demand Philippi. April 2, 1861 FIVE DOLLARS Cash Pres WELLSTOOD. HAY & WHITING. NEW YORK .
Reverse description The reverse is uniface, printed on plain paper with no design or lettering, showing only the aged patina of the period stock. A handwritten collector notation appears at lower left.
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Comments

The Bank of Philippi was chartered in Barbour County, Virginia — territory that voted overwhelmingly against secession in 1861 and became part of the new state of West Virginia in 1863. Notes issued under the Virginia bank charter were therefore circulating in what would shortly become enemy territory from the Confederate perspective, and the bank itself continued operating under Union-sympathetic governance through the war years.

Wellstood, Hay & Whiting was a New York security printing firm, which means this note was engraved and produced in the North before the political fracture made such arrangements impossible. By mid-1861, Southern banks could no longer place orders with Northern printers.

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