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    Description

    Fr. 196 1861-63 Interest Bearing Note Back Proof About New. This back proof impression is printed on India paper and has three extremely faint folds and a small chink at the lower border. There is also a tiny split in the upper margin. As their name implies, the Interest Bearing Notes could be redeemed by the holder for an amount higher than their stated face value. In this sense they were more akin to a circulating government bond. The circulating examples of this overall type are extremely scarce to rare today, as the interest bearing feature provided an incentive for the public to redeem and not retain them. The obligation on the back indicates that these notes were not payable for "duties on imports", thus generating consideration of the National Customs Notes, one of which is presented above. Proof impressions of early Federal issues are all quite rare.

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    Auction Info

    Auction Dates
    January, 2005
    13th-15th Thursday-Saturday
    Bids + Registered Phone Bidders: 4
    Lot Tracking Activity: N/A
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