Were Old West banks insured against loss by robbers?

Nik Morton
Alicante, Spain

Until federal deposit insurance came about during the 1930s, you put money in a bank at your own risk. If it was stolen, it was gone. That’s probably why the citizens of Northfield, Minnesota, and Coffeyville, Kansas, didn’t take too kindly to the James-Younger Gang or the Dalton brothers coming to town to pilfer their hard earnings.

Actually, bank robberies weren’t that common during the Old West because few banks existed. Folks usually kept their money in the mercantile store safe or someplace similar.

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