Salem, IL- Salem Bank (of Salem) $10 Nov. 5, 1860 G10 Proprietary Proof PCGS Superb Gem New 68PPQ.

The Salem Bank was partially organized as a free bank in late 1860, but was apparently never opened due to the financial turmoil associated with the imminent commencement of hostilities. Records indicate that all of the circulating notes were burned. The note itself is a beauty, originally designed by National Bank Note Company (Haxby has ABNCo as the printer, but also clearly had not seen a physical note). It features the same train in station vignette that was used on the CSA Montgomery $100 (Type 3) Treasury Note only months after this note was designed. It also includes a small vignette of two beehives representing Industry and the state auditor die. This example is a modern proprietary proof, produced from the original plate by ABNCo during the 20th century for various programs and corporate purposes. With only one period Proof $5 and $10 and one $5-$10 uncut sheet of remainders that somehow escaped destruction known, this proprietary proof is a good way to obtain a note from this obviously excessively rare bank. From the Gaines Confederate Matching Vignette Collection