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Interest bearing note

From Wikipedia, the free encyclopedia
Grouping of Civil War era paper money-related emissions of the US Treasury
$50 three-year interest bearing note (1865), 7.3% interest paid semi-annually (with all coupons still attached).

Interest bearing notes refers to a grouping ofCivil War erapaper money-related emissions of theUS Treasury. The grouping includes the one- and two-year notes authorized by the Act of March 3, 1863, which boreinterest at five percent per annum, were alegal tender at face value, and were issued in denominations of $10, $20, $50, $100, $500 and $1000.[1] The grouping also frequently includes theearly civil war treasury notes which matured in either sixty days or two years and bore interest at six percent and theseven-thirties which matured in three years and bore interest at 7.3 percent—though both of these latter issues lacked legal tender status.[2] Reference texts used by currency collectors will also sometimes includecompound interest treasury notes andRefunding Certificates in this grouping as well.

Denominational set of interest bearing notes

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Images are courtesy of theNational Numismatic Collection at theNational Museum of American History (Smithsonian Institution).

Interest bearing notes
ValueTermsYearFr.ImagePortrait/vignette[nb 1]Population
$10One year (5%)1864Fr.196aSalmon P. Chase (Charles Burt);[3] Eagle of the Capitol and Peace (James Bannister);[3]28 known[4]
$20One year (5%)1864Fr.197(?); Mortar firing (James Smillie);[5]Abraham Lincoln (Henry Gugler);[6]In God is our Trust9 known[4]
$50Two years (5%)1864Fr.203Caduceus (Alfred Jones);[7] Justice with Shield (Charles Burt);[8] America (?)7 known[9]
$100Two years (5%)1864Fr.204Farmer and Mechanic; ((Building)); In the Turret2 known[10]
$50Three years (7.3%)1865Fr.212dEagle and motto6 known (only 2 known with coupons)[11]
$100Three years (7.3%)1865Fr.212eWinfield ScottUnknown[12]
$1,000Three years (7.3%)1865Fr.212g
counterfeit
Justice with Shield (Charles Burt)[8]
$1,000One year (5%)1863Fr.201
proof
Justice; Liberty
$1,000Two years (5%)1863Fr.206
proof
Guerriere and Constitution; Discovery of the Mississippi by DeSoto
$5,000One year (5%)1863Fr.202
proof
The Altar of Liberty (Louis Delnoce)
$5,000Three years (7.3%)1865Fr.212h
proof
Justice;New Ironsides (James Smillie)

Footnotes

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  1. ^Names in parentheses are artists who engraved the portraits or vignettes used on the notes.

Notes

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  1. ^Hessler, Gene and Chambliss, Carlson (2006).The Comprehensive Catalog of U.S. Paper Money, 7th edition, Port Clinton, Ohio: BNR PressISBN 0-931960-66-5.
  2. ^Major marketers of rare currency notes make this grouping choice in their on-line sites.
  3. ^abHessler, 2004, p. 65.
  4. ^abFriedberg & Friedberg, 2010, p. 63.
  5. ^Hessler, 1993, p. 286.
  6. ^Hessler, 1993, p. 145.
  7. ^Hessler, 1993, p. 180.
  8. ^abHessler, 1993, p. 73.
  9. ^"Heritage Auctions Archives". Heritage Auctions. Retrieved16 June 2014.
  10. ^"Heritage Auctions Archives". Heritage Auctions. Retrieved16 June 2014.
  11. ^"Heritage Auctions Archives". Heritage Auctions. Retrieved16 June 2014.
  12. ^Friedberg & Friedberg, 2010, p. 71.

References

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Topics
Coins
Gold coins
Currency
Discontinued denominations
Discontinued currency types
Related
Commercial Revolution
(1607–1760)
1st Industrial Revolution
(1760–1840)
Civil War Era
(1840–1870)
2nd Industrial Revolution/
Gilded Age
(1870–1914)


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