1811 Un-Issued Planters & Mechanics Bank (SC) Stock Purchase Receipt

Description

1811 Un-Issued Planters & Mechanics Bank (SC) Stock Purchase Receipt
Offered for your consideration is an unusual document, a receipt for the first payment of the purchase of shares of stock in an early financial institution.
Though research seems to indicate that the Planters and Mechanics Bank of South Carolina was originally chartered in 1810, the specie clause of the Tax Act was apparently left out of the official authorizing document. This omission was corrected the following year, and the bank’s charter was amended at that time. The presently offered document dates from the time of that re-charter, and is an un-issued receipt for the purchase of shares in the bank. Resembling a modern check, this document is headlined
“Charleston, February 1811”
, with a space left after the month for the insertion of the actual date of receipt. The body of the document states that there has been
“Received from Dollars, being first payment on Shares subscribed by in the Stock of the Planters and Mechanics Bank of South Carolina.”
, with the large blank spaces again left for the insertion of all pertinent information. Below this partly printed obligation is a blank area where the signatures
“In behalf of the Commissioners”
would be added upon the issuance of the receipt. Two short horizontal lines with the abbreviation
“DOLLS.”
printed in between appears to the left, ready for the insertion of the amount of the receipt. A decorative border of swirls appears at the left center, neatly separating the customer’s receipt from what appears to be the bank’s retained stub. This presumed stub bears the printed words
“Shares”
and
“Dolls.”
, with large blank areas left for the insertion of the proper amounts. The verso of the piece is, as expected, blank (nothing could be added to the back that was not already presented on the front).
The presently offered document is in excellent condition, especially considering its age. It is printed on high-quality paper, and since it is un-issued, it bears no ink to bleed through or detract from the overall appearance. Moderate beige toning is present across the entire surface, with slightly darker patches noticeable at either end. The right hand edge is somewhat irregular, while the other three appear as if they were cut by a razor or other sharp instrument. This interesting piece measures approximately 3.25 x 8.00 inches and would make a wonderful display if framed with a view of antebellum Charleston.
A .95 charge will be added to the winning bid for postage and insurance.
If you have any questions regarding this item, please ask before purchasing.
Buy or Bid with Confidence – American Coins & Collectibles President Richie Self has worked 6 years as a paper money grader/authenticator. He has contributed to numerous reference books within the industry, as well as being a co-author of “The Comprehensive Catalog and History of Confederate Bonds, 2
nd
Edition” with Douglas B. Ball, Ph.D., Henry F. Simmons, M.D., Ph.D. and James R. Desabaye. Mr. Self is a life member of the American Numismatic Association, the Society of Paper Money Collectors, as well as numerous regional numismatic associations. He is an authorized submitter to NGC, PCGS, and PMG, a diamond founding member of Coin Dealers Helping Coin Dealers and a supporter of the Industry Council for Tangible Assets. American Coins and Collectibles can be found at many of the state and local coin shows.
American Coins and Collectibles
Shreveport, LA