From the Grading Room

Posted on 11/30/2010

Recently graded is a rare $10 Demand Note and a beautiful Canadian Charter Bank Note.

Fr# 10a 1861 $10 Demand Note Payable at St. Louis “For The” Handwritten, PMG VG 8

The first and earliest issue of United States currency is the Demand Note of 1861. They are unique among large size US currency in that they do not have a Treasury Seal or the names of the Treasurer and Register of the Treasury. The first plates had two blank spaces for signatures with “Register of the Treasury” and “Treasurer of the United States” engraved beneath. Sixty million dollars in Demand Notes were originally authorized, which required the printing and signing of several million notes. Due to the amount of notes, the problem of having the actual Treasurer and Register of the Treasury sign each and every note became apparent. So, a large staff of clerks was hired to sign for each official. Because the clerks were signing the notes for the actual officials, they were instructed to sign “For the” next to the engraved title below the signatures. It was soon realized that the signing of “For the” became inefficient, so the plates were changed to read “For the Register of the Treasury” and “For the Treasurer of the United States.” Over time it became rare to find notes with “For the” handwritten due to the low number produced. Today, only a few survive and are of great historical interest. This month we are displaying Fr# 10a, a “For the” variety from St. Louis. This is also the first note graded from the St. Louis district.

click image to enlarge
click image to enlarge

Canada, The Imperial Bank “Specimen” Charlton #3751212S 1902, PMG About Uncirculated

The beautiful Canadian charter specimen banknote features a portrait of George V while he held the title “Duke Of York.” The back design features a woman with a fruit basket. The Issued note is known only in institutional collections.

click image to enlarge
click image to enlarge

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