DescriptionFr. 190b $10 1864 Compound Interest Treasury Note PCGS Very Fine 20.
Designed to be circulating three year Legal Tender that bore 6% compound interest if held to maturity, notes like this one helped finance the Civil War for the Union. The bronze surcharge on this note has oxidized, but has not eaten through the paper. Overall, this is an above average example of this issue, which was extensively circulated. PCGS notes some small internal splits and equally small tape repairs on the back center.
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