GreatCollections Offers Stunning PMG-certified 1861 Interest Bearing Note Proofs

Posted on 10/17/2022

Interest Bearing Notes were redeemed during the economic hardship of the Civil War, making them exceedingly rare.

A set of Front and Back Proofs of a rare Interest Bearing Note certified by Paper Money Guaranty® (PMG®) is being offered by GreatCollections. The auction is set to end on Sunday, October 30, 2022.

The Front and Back Proofs of an 1861 $5,000 Interest Bearing Note (Friedberg# 211) are graded PMG 63 Choice Uncirculated. These Proofs were printed to test the note’s design before The American Bank Note Company of New York put them into full production. The Front and Back Proofs are mounted on cardstock.

Front and back printer's proofs of an 1861 $5,000 Interest Bearing Note graded PMG 63 Choice Uncirculated
Click images to enlarge.

Interest Bearing Notes were issued during the Civil War to help the US government pay its expenses. A borrower would receive a note and five coupons, which could be redeemed one by one with interest accrued in six-month variables. Due to the high denomination of this Interest Bearing Note, issued examples were all redeemed, making a small number of Proofs the only way to collect an example of this note.

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