1863 $10 Compound Interest Treasury NoteFr. 190 $10 1863 Compound Interest Treasury Note PMG Very Fine 20.
The PMG 20 grade appears accurately assigned on this rare 1863 Compound Interest Treasury Note. Track and Price lists only a total of 14 known examples, with the highest graded piece a 40 and the highest third-party graded note a 25. PMG has commented, "Splits," which is accurate though they are extremely minor. The real highlight of this Civil War Era Compound Interest Note is its total originality. These are almost always repaired, frequently with large portions of the design replaced. The bronze overprint oxidizes to green, as it has on this note, and too many flawed methods to count have been utilized to bring back the original color - often to the extreme detriment of the note. On this example the overprint is green and strictly original, as it should be. This was actually a circulating Legal Tender note that bore interest at six per cent and was only redeemable in full (to the tune of $11.94) at the end of the three year circulating period.
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