Tennessee Memphis $5 – 1852 Memphis Savings Institution PMG 53 About Uncirculated EPQ

• ountry: United States
  
• State: Tennessee
  
• City: Memphis
  
• Institution: Memphis Savings Institution
  
• Denomination: $5
  
• Date: 1852
  
• Serial Number: 526
  
• Type: Obsolete Banknote
  
• Certification: PMG 2288904-012
  
• Grade: About Uncirculated 53 EPQ
  
• Vignettes: Allegorical figures, eagle, merchant/marine imagery
  
• Printing Era: Pre–National Bank Act
  
• Printer: Not explicitly stated (typical of regional 19th-century issues)

A historically significant $5 1852 note issued by the Memphis Savings Institution of Memphis, Tennessee, certified PMG 53 About Uncirculated EPQ. This beautifully engraved antebellum-era banknote features bold typography, intricate borders, and classic vignettes that reflect the commercial and river-trade culture of Memphis in the mid-19th century.

The central vignette depicts allegorical figures symbolizing agriculture, river commerce, and prosperity—core economic pillars of Tennessee during the 1850s. The right side features an eagle perched over patriotic motifs, while ornamental “5” counters anchor each corner with symmetry and detail.

Graded PMG 53 EPQ, the note retains excellent paper originality and crispness for its age. EPQ (Exceptional Paper Quality) is rarely seen on obsolete notes of this era, making this example especially desirable to collectors seeking eye-appeal combined with originality.

Background Information

Before the National Banking Act of 1863 standardized U.S. currency, thousands of private banks, savings institutions, and state-chartered organizations issued their own banknotes—now known as Obsolete Banknotes. These notes circulated widely throughout their regions and often featured elaborate engravings to deter counterfeiting and instill trust.

The Memphis Savings Institution, incorporated in 1852, operated during a period when Memphis was emerging as one of the major trade and shipping centers of the American South. Notes from this era rarely survive in strong condition due to heavy circulation, economic upheaval, and the eventual withdrawal of private currency. High-grade pieces with PMG EPQ designation represent the best of what remains today.