5 Dollars State Bank of Michigan

The State Bank of Michigan had a notoriously short window of relevance. Michigan's free banking era produced hundreds of issuing institutions of wildly uneven capitalization, and the state's banking infrastructure was under sustained pressure from both the national banking reforms gathering momentum in Washington and the ongoing fallout from earlier wildcat banking scandals that had badly damaged public trust in Michigan paper. By 1859, the writing was on the wall — the National Banking Acts of 1863–64 would effectively terminate state bank note issuance within a few years.

American Bank Note Company had consolidated several earlier security printers by 1858, and notes from this transitional period of the firm carry the new ABNC imprint rather than the predecessor company credits.