HONESDALE, Pa. — Honesdale National Bank along Main Street is used to customers coming in to cash checks or make other transactions. Elizabeth Nagy is the vice president and director of marketing for the bank. Nagy says last week, a customer came in with a stack of checks that surprised bank employees. These weren't just any checks; these had historical significance.
"We were blown away by the sheer number of checks that they still had in their possession and the fact that they dated back to 1893," Nagy said.
The anonymous customer told bank officials their family held onto the checks as a way to keep track of their balances. These checks were cashed not long after they were written, so there was no other value to them other than the history the checks held.
"Their family has held on to them as a prized possession over the number of years, and they finally made that decision that they deserve to come back to the bank and stay here for our archive."
The bank is celebrating 185 years in business and is thrilled that members of the community want to contribute to the history.
"Over the years, we've definitely seen a demonstration that our customers are just as committed to our history as we are, and it's phenomenal that they've been able to hold on to some of these legacy pieces and share them back with us."
The value of the dollar has also changed over the years, and after some math, there is a major increase from 1893 to 2021.
"$44 in value back at the time of the checks origination, and now they're up to about $1328.90 in terms of value, so it's amazing to see obviously how the economy has changed over time," Nagy said.
The checks are in mint condition, and bank officials say they will store this piece of history in the archives so others in the future can appreciate the significance.