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 Replies: 15 / Views: 752 |
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Valued Member
Canada
358 Posts |
This came to me as part of a collection I purchased some time ago. I've done a little research and I thought I'd share. Hopefully, I've picked the right forum. This note appears to be in rough shape and it is paper thin but it may be one of a very few or maybe the only one especially from this particular institution. I have not been able to find another example online. As I understand it banking in 1862 was mainly controlled by the states and with the introduction of fiat money and a war underway reliable money was probably hard to come by. So, company banks offered another avenue for making capital available. I've found a few bits of information about the bank owner Q. W. Wellington and I thought it was interesting that he played an important role in getting Corning Glass Works in NY off the ground. The Glass Works is still around and has been the source of many important products and innovations over the years. If anyone can shed more light on this piece of our monetary history I would sure love to hear about it.   |
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Pillar of the Community
United States
7741 Posts |
Very interesting and thanks for posting.
A lot of those old bankers were pretty colorful characters.
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Valued Member
 Canada
358 Posts |
@westernsky you're welcome. Imagine at 17 he starts as an errand boy and in 1862 at 30 years old he owns a growing banking concern. He didn't waste alot of time.
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Bedrock of the Community
Canada
21974 Posts |
Found this interesting and did a little research.
This banknote is a highly collectible piece of obsolete currency. Like so many
other localized banks, the Wellington Bank printed their own currency.
PMG have one graded as a VG8 and have assigned it
catalogue #NY715 G2.
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Valued Member
Canada
358 Posts |
@JimmyD I am not having any luck searching the PMG site. Do I need an account? Appreciate any help
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Bedrock of the Community
Canada
21974 Posts |
You don't need an account unless you are sending something to be graded.
Just google NGC grading and it will take you to the website.
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Valued Member
Canada
358 Posts |
@JimmyD when I google NGC grading I get links for the ngccoin.com site which has nothing about notes. I've also tried PMG but nothing there. I'm obviously missing something simple but can't figure out what it might be
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Bedrock of the Community
Canada
21974 Posts |
Sorry, I meant PMG Grading, their paper money division.
Google that and it will take you to the website. I just tried it to double check.
If it doesn't work for you, there. is another way to try.
Edited by JimmyD
08/01/2026 8:31 pm
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Valued Member
Canada
358 Posts |
@JimmyD Found the reference. I know very little about grading currency especially in the lower grades but given the tattered nature of my note I am guessing it would be in the poor/fair range. Any thoughts?
I am not too sure what to make of the PMG population of 1 except that it would seem rare in any grade. Beyond that I am not sure what if anything can be said.
Thanks for looking into this
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Bedrock of the Community
Canada
21974 Posts |
With the tear and missing piece, it would be graded as fair which would greatly affect the value.
To be graded as poor, it would have to be falling apart.
Edited by JimmyD
08/01/2026 8:56 pm
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Pillar of the Community
 United States
3869 Posts |
Very interesting note, lahave56, thanks for sharing.
Member of SPMC, FCCB, ANA and ANS. My U.S. Classic Commemorative Complete Set: https://www.NGCcoin.com/registry/co...sets/278741/ |
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Moderator
United States
110993 Posts |
very nice note!  |
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Moderator
United States
198654 Posts |
Interesting example! |
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Pillar of the Community
United States
1939 Posts |
Very cool, interesting, note |
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Pillar of the Community
United States
3869 Posts |
The NY-715 G2 id number JimmyD mentioned is actually the Haxby number from the "Standard Catalog of United States Obsolete Bank Notes 1782-1866", James A. Haxby, published in 1988. New York issues are covered in Volume 3, with this bank appearing on page 1502.
Haxby includes very minimal information on most banks; for this bank he only mentions that it existed from 1862-1920 and was absorbed by Corning Trust Company.
Other than this $1 note, he also lists a $2 note with the same issue date of Sept. 1, 1862 (NY-715 G4). However, Haxby was not aware of any surviving examples of the $2 note. For notes with known survivors he lists some basic valuation information (far out of date, of course), but doesn't provide a rarity scale.
Member of SPMC, FCCB, ANA and ANS. My U.S. Classic Commemorative Complete Set: https://www.NGCcoin.com/registry/co...sets/278741/ |
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Valued Member
Canada
358 Posts |
@hokiefan_82 Appreciate the additional information. If I learn more I will share.
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Replies: 15 / Views: 752 |
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Posted 08/01/2026 4:43 pm
