5 Dollars Hagerstown Bank

Hagerstown Bank was chartered in Maryland in 1807, making it one of the older surviving state bank issuers still producing notes into the late nineteenth century. The dual printer credit — Danforth, Underwood & Co. and Underwood, Bald, Spencer & Hufty — reflects a transitional period in American bank note engraving when firms reorganized frequently, often reusing existing plate work under a new imprint rather than commissioning fresh designs.

Maryland state banks continued issuing their own notes long after the National Banking Acts of 1863–64 effectively taxed most state currency out of existence — a quirk worth noting when dating examples within this series' unusually wide span.