This is a rare obsolete (broken) bank note from a pre-Civil War Indiana state-chartered bank. Value depends entirely on condition and market demand.
| Condition Grade | Description | Approx. Value (USD) |
|---|---|---|
| Good / VG (Circulated) | Heavy wear, tears, stains, repairs | $1,500 – $2,500 |
| Fine (F) | Moderate wear, intact, minor flaws | $2,500 – $4,000 |
| Very Fine (VF) | Light wear, crisp, good color | $4,000 – $7,000 |
| Extremely Fine (XF/EF) | Minimal wear, sharp details | $7,000 – $10,000 |
| About Uncirculated (AU) | Trace wear on high points | $10,000 – $15,000 |
| Uncirculated (UNC / MS) | Perfect, original crispness, no folds | $15,000 – $25,000+ |
Do not clean or press. Handle by edges. Store in Mylar sleeve. Consult a professional currency dealer or auction house (Heritage, Stack's Bowers) for appraisal/sale.