Pepin, WI- Chippewa Bank Counterfeit $5 Nov. 1, 1856 PMG Fine 12

Very Rare 2nd Generation Contemporary Counterfeit. Only a total of 3 notes have been certified by PMG, this one included.

This bank was having problems with counterfeits, so they added a red protector to their issues. The counterfeiters then followed suit, but they failed to faithfully copy the new version - they missed that it also contained numerals! Based on the condition, this bill must have been accepted by most people anyway. Reverse annotation.