Bills issued by banks were commonplace before the Federal Reserve Bank was established in 1913.
According the Fairbanks Daily New-Miner in this article a $5 bank note issued by the First National Bank of Fairbanks in 1905 has been auctioned off for just under $247,000. The face on the bill is that of Charles Fairbanks, for whom the city was named, vice-president under Theodore Roosevelt, and has been in the possession of the Fairbanks family since it was presented to the Indiana attorney, senator and counsel to Jay Gould.
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