Interest_bearing_note

Interest bearing note

Interest bearing note

Grouping of Civil War era paper money-related emissions of the US Treasury

Interest bearing notes refers to a grouping of Civil War era paper money-related emissions of the US Treasury. The grouping includes the one- and two-year notes authorized by the Act of March 3, 1863, which bore interest at five percent per annum, were a legal tender at face value, and were issued in denominations of $10, $20, $50, $100, $500 and $1000.[1] The grouping also frequently includes the early civil war treasury notes which matured in either sixty days or two years and bore interest at six percent and the seven-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 include compound interest treasury notes and Refunding Certificates in this grouping as well.

$50 three-year interest bearing note (1865), 7.3% interest paid semi-annually (with all coupons still attached).

Denominational set of interest bearing notes

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

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Footnotes

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

    Notes

    1. [1]
      Hessler, Gene and Chambliss, Carlson (2006). The Comprehensive Catalog of U.S. Paper Money, 7th edition, Port Clinton, Ohio: BNR Press ISBN 0-931960-66-5.
    2. [2]
      Major marketers of rare currency notes make this grouping choice in their on-line sites.
    3. [3]
      Hessler, 2004, p. 65.
    4. [4]
      Friedberg & Friedberg, 2010, p. 63.
    5. [5]
      Hessler, 1993, p. 286.
    6. [6]
      Hessler, 1993, p. 145.
    7. [7]
      Hessler, 1993, p. 180.
    8. [8]
      Hessler, 1993, p. 73.
    9. [9]
      "Heritage Auctions Archives". Heritage Auctions. Retrieved 16 June 2014.
    10. [10]
      "Heritage Auctions Archives". Heritage Auctions. Retrieved 16 June 2014.
    11. [11]
      "Heritage Auctions Archives". Heritage Auctions. Retrieved 16 June 2014.
    12. [12]
      Friedberg & Friedberg, 2010, p. 71.

    References


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