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LOT #13326
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![Large Size:Compound Interest Treasury Notes, Fr. 190 $10 1863 Compound Interest Treasury Note PCGS Very Fine25.. ...]()
Fr. 190 $10 1863 Compound Interest Treasury Note PCGS Very Fine 25.. ...
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Fr. 190 $10 1863 Compound Interest Treasury Note PCGS Very Fine 25.In 2005, this piece graced the pages of our September Long Beach Signature Auction catalog. At the time, it was described, "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. 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." Later that year, another example realized $9,200 at auction. That piece was also graded Very Fine 25 by PCGS and was the last piece offered at public auction to date. With no offerings in the last half decade for this rare $10 Compound Interest Note, expect another realization of at least...
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Auction Dates
August, 2010
11th-16th
Wednesday-Monday
Bids + Registered Phone Bidders: 5
Lot Tracking Activity: N/A
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