Bank of Commerce (New York) $5 Altered from Painesville, OH – Haxby 1534-A5 PCGS 64 Very Choice New

• Country: United States
  
• Denomination: $5
  
• Bank: Bank of Commerce, New York (Altered from Painesville, OH)
  
• Date: May 4, 1845
  
• Catalog Reference: Haxby 1534-A5
  
• Type: Obsolete Banknote
  
• Serial Number: 7139
  
• Plate: A
  
• Certification: PCGS Currency
  
• Grade: Very Choice New 64
  
• Printer: Unknown (typical of mid-19th-century private engravers)
  
• Portraits / Vignettes: Eagle, maritime scenes, classical engravings

A highly collectible obsolete banknote: a $5 Bank of Commerce (New York) issue, altered from a Painesville, Ohio note, cataloged as Haxby 1534-A5 and certified PCGS 64 Very Choice New.

This captivating mid-19th-century piece (dated May 4, 1845) features intricate vignette work, including an American eagle, maritime imagery, and classical engraving motifs — hallmarks of pre-Civil War banknote artistry.

Altered notes represent an important part of American numismatic history. Before the National Bank Act standardized U.S. currency, thousands of private banks issued their own notes, creating opportunities for alterations, rebranding, or deceptive reuse. This note is a textbook example: originally produced for Painesville, OH, then altered to appear as a Bank of Commerce, New York issue.

Graded PCGS 64 Very Choice New, this note displays exceptional paper quality, rich detail, and strong originality — remarkable for an 1840s obsolete note and highly desirable to collectors of early American currency, obsolete banknotes, or altered plate varieties.

Background Information

During the 19th century “Broken Bank Note” era, local banks across the United States issued their own currency. Some banks failed, relocated, or were absorbed, while others saw their notes altered and reused elsewhere.

The Bank of Commerce (New York) / Painesville, OH alteration is a well-documented variety illustrating the challenges merchants and citizens faced before federal currency standardization. Collectors today appreciate such notes for their storytelling, eye-catching engravings, and insight into America’s financial past.

The Haxby catalog remains the authoritative reference for obsolete banknotes, and Haxby 1534-A5 is a notable entry due to its altered origin and limited surviving examples.