The Only Known Surviving US $2.00 “Lazy Deuce” Note Issued for a Lansing, Michigan Bank
What Were National Bank Notes?
Prior to the Civil War, the US government did not issue paper money. Instead, some states, cities, private banks, and other companies issued notes that were theoretically redeemable in specie (gold or silver). Oversight of these issuers was often lax and there were several fraudulent issues.