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    War of 1812 Era $10 PMG 58 EPQ

    TN-14a Hessler X83C $10 Act of February 24, 1815 Treasury Note Double Signature Remainder PMG Choice About Unc 58 EPQ.
    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 sources of revenue to prosecute the war. In addition to the issue of federal bonds, the Treasury created these circulating notes that were fundable into 7% stock. Issued under the Act of February 24, 1815, the issue authorized immediately after the end of the War of 1812, this note was part of the total of $3,392,994 worth of small Treasury Notes under $100 that were issued, with denominations of $3, $5, $10, $20, and $50. A total face value of $25,000,000 had been authorized. There were two varieties of the $10 notes. One design includes text in the right border stating 'receivable everywhere by the United States in payment of duties, taxes, and public lands.' The newly released 21st edition of the Friedberg reference states that there is only one note known with all three signatures.

    The Newman Collection contained a different example in this exact PMG grade and it realized $24,000 in our November 2017 auction. The note we are now auctioning is identical in appearance to the Newman specimen except for a bit more left margin, and it should have at least an identical result, if not more.

    Auction Info

    Auction Dates
    January, 2018
    3rd-9th Wednesday-Tuesday
    Bids + Registered Phone Bidders: 7
    Lot Tracking Activity: N/A
    Page Views: 694

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