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    Description

    One of Only Seven Examples Known

    Fr. 4 $5 1861 Demand Note PMG Fine 12 Net.
    1861 Demand Notes were the first federal notes issued after the start of the Civil War. While they ceased to be redeemable in specie by the end of 1861, they were receivable for customs duties (normally paid in gold coin). This essentially made them as "good as gold" and meant that they actually garnered a premium over face value. Notes were issued, payable in five different cities, New York, Philadelphia, Boston, Cincinnati and St. Louis, and were all hand signed by clerks. Notes from Cincinnati office are rare, with only seven $5 Cincinnati Demand Notes presently known. This note, which is ex-Amon Carter, has a few very minor tape repairs of edge splits as noted by PMG. On a note of this rarity, it is utterly immaterial, but it does bear a five-digit radar serial 11311. The colors are surprisingly good for a note in this grade, particularly the green back which gave these early Demand Notes their nickname.


    Auction Info

    Auction Dates
    September, 2019
    4th-9th Wednesday-Monday
    Bids + Registered Phone Bidders: 3
    Lot Tracking Activity: N/A
    Page Views: 272

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