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    Description

    June 10, 1864 Ten Dollar Compound Interest Treasury Note

    Fr. 190 $10 1863 Compound Interest Treasury Note Choice Very Fine. This is the rarest of the Ten Dollar Compound Interest Treasury Notes, bearing the issue date of June 10, 1864. Only ten examples are known, and this is one of the two finest. This is actually a circulating Legal Tender note that bore interest at six per cent and was redeemable in full only at the end of the three year circulating period. The table on the back shows how interest was earned over that period. As the Civil War raged on and the country sank deeper into debt financing the war, these notes were issued to help raise much needed funds. These were issued in $10, $20, $50, $100, $500 and $1000 denominations, with the $50 and above denominations extremely rare and desirable. Even lower denominations are very rare in high grade. The gold overprint has flaked off somewhat, but there is no paper loss, and the note is far above average for this issue. It's an incredibly attractive note for the type, with good remaining crispness and strong color. For those desiring something neat and out of the ordinary, this beautiful and rare note deserves strong consideration.
    From the collection of Malcolm A. Trask.


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    Auction Info

    Auction Dates
    January, 2005
    13th-15th Thursday-Saturday
    Bids + Registered Phone Bidders: 7
    Lot Tracking Activity: N/A
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