Central vignette of sailing ship. George Washington to upper left and Benjamin Franklin to lower right. Vignettes of men unknown at corners. A true Florida rarity which was correctly signed by the Cashier, William Patrick Lying near the present day city of Pensacola in Northwest Florida. In 1837 St. Joseph was the most populated location in the territory. In 1838 the first Constitutional Convention was hosted here. As many as 6,000 people lived here until 1841 when a ship brought yellow fever to the town, killing many of those who lived here and causing the remainder to leave. The abandoned town was also hit by a devastating hurricane in 1843, destroying any remaining trace of the city, now known as Port St. Joe.

A fair number of Commercial Bank notes which were not signed at all or which were fictitiously issued have been see and are ore frequently of the five dollar denomination. The $100 and $20 issues are by far the most scarce, with one $20 note fully issued and signed bearing the date May 23, 1837. Any signed note bearing a date later then May 23 is a remainder with fraudulent signatures.