During the Civil War, both the North as well as the South developed their own currency. Ripped apart by war and teetering on bankruptcy, Congress ordered the printing of a number of notes. These Large Size Notes were commonly called horse blankets because of their dimensions. Issued from 1861 to 1928, their original size was approximately 7.42 inches by 3.13 inches. Cost cutting measures have reduced todays note to the more familiar 6.14 inches by 2.61 inches. Demand Notes or Greenbacks minted only in 1861 represent Americas first type of Federal Bank money.
All notes that was printed and issued to the public is still legal tender today and can be redeemed to any bank for face value. They exception is the 1900 $10,000 gold certificate that was tossed out of a window during a fire in 1936. They were punched cancelled and therefor have no face value for redemption except for collectors.
United States Legal Tender (United States Notes) notes consisted of five issues:
The first issue of March 10, 1862, was issued in denominations of $5, $10, $20, $50, $100, $500 and $1,000. There are two seperate obligationson the reverse side of these notes.
The second issue, dated August 1, 1862, was confined to $1 and $2 notes, although the face design does indicate that a $3 denomination was planned, but not released.
The third issue, dated March 10, 1863, was printed in the same denominations as the first issue, but changes were made to the back design.
The fourth issue was printed under authority of the Congressional Act of March 3rd, 1863. These notes were issued from $1 to $10,000 denominations and included the of Series 1869, 1874, 1878, 1880, 1907, 1917 and 1923, with all except the 1869 notes carrying the designation "United States Note." The 1869 series was designated as "Treasury Note." The United States introduced paper with silk threads as a deterrent to counterfeiting with the Series 1869 notes.
The fifth issue was limited to the $10 denomination series of 1901. (The Bison Note). These notes were issued under the authority of the Legal Tender Acts of 1862 and 1863.
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I just picked up this nice 1901 $10 Bison Legal Tender on the last day of the CPMX show in Chicago along with another one in a PCGS-64PPQ. I really liked the lipstick red colors of the small scalloped...
This is avery nice and original 1862 $10 Legal Tender. You rarely find one in VF grade this nice with a EPQ or PPQ notation. Not only is it in a nice grade and original it even has extremely nice margins for a 1862 hand cut note.Most of these types of not...