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9 Dollars Peoples' Bank of Paterson
| Issuer | Peoples' Bank of Paterson |
|---|---|
| Year | 1830-1839 |
| Type | Local banknote |
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|---|---|
| Obverse lettering | STATE OF N. JERSEY THE PRESIDENT DIRECTORS & CO OF THE PEOPLES' BANK OF PATERSON Promises to pay to or bearer NINE DOLLARS on demand No.___ A PATERSON_____18__ Cashier Durand, Burton & Edmonds, N. York Cashr. Prest. |
| Reverse description | Reverse is blank, without any printed design, lettering, or ornamental work. |
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| Comments |
The $9 denomination is the tell. American private banks of the 1830s issued odd-denomination notes specifically to frustrate counterfeiters, who typically concentrated their efforts on round figures. A forged $9 note was harder to pass convincingly than a fake $5 or $10, and the cognitive friction of an unusual amount made recipients look twice. Paterson, New Jersey was already an industrial hub by this period — Alexander Hamilton had specifically chosen the Great Falls site in 1791 for the Society for Useful Manufactures — and the Peoples' Bank served a working commercial town, not a rural backwater.
Casilear, Durand, Burton & Edmonds were among the more accomplished bank note engravers working out of New York before the American Bank Note Company consolidation of 1858 absorbed most of the major firms.