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    Friedberg Plate Note--War of 1812 $100 Treasury Issue Act of June 30, 1812 $100 Treasury Note Extremely Fine. Considered by many collectors to be our nation's first federal currency, the War of 1812 issues were printed to finance the war effort against Great Britain. The "Second War of American Independence," as some historians have called this conflict, was caused by an extended disagreement between the United States and Great Britain over trade tariffs and violations of American maritime rights. With the demise of the First Bank of the United States and no provision for internal revenue taxes, the Treasury was left with meager choices of revenue to prosecute the war. In addition to the issue of federal bonds, the Treasury created these circulating notes that drew 5 2/5% interest per year.
    This emergency issue was nearly completely redeemed, and surviving notes that were signed and issued are virtually non-existent. This specimen, an unsigned, unissued remainder note, is one of only two known examples of the design type (out of 15,000 originally issued). It is in nearly pristine condition, with its full original embossing and only a few folds to distract the viewer's attention. We have never before sold this rare type, and we expect considerable excitement among serious bidders. It is an extremely rare item that is not likely to be available again soon, and is likely to be the only opportunity many collectors will ever have to own a note from this issue. Est. 20,000up

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    ‡ The owner placed a late bid on this unreserved lot and repurchased it, subject to applicable commission.

    Auction Info

    Auction Dates
    September, 2001
    21st-22nd Friday-Saturday
    Bids + Registered Phone Bidders: 7
    Lot Tracking Activity: N/A
    Page Views: 536
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