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Sale 36
Pre-Long Beach Coin and Currency Auction
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Description |
Realized |
Lot 4346 |
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1861, $5 Demand Note. . Fr-1. . KL-183. What better way to start off your paper money collection than with a Friedberg 1 Demand Note from the Civil War years payable in New York In fact, this is one of the freshest examples known from the early period. The note has only one equal to it and that was offered as part of the Great Lakes Collection where it realized $24,000 hammer. This example is every bit as nice, or better, and bidders will appreciate the paper quality plus its excellent overall appearance. Such a spectacular Demand Note offers an important opportunity to own the best. CGA graded About Uncirculated 58.
The term "Greenback" for United States paper money originated with the issue of the Demand Notes of 1861. Demand Notes are the first and earliest issue of United States currency as we know it.
They were issued in denominations of 5, 10 and 20 Dollars only, and were authorized by the Congressional Acts of July 17 and August 5, 1861. All notes bear the first date, "Act of July 17, 1861" and also the additional date of "Aug. 10th, 1861," which is probably the day the notes were first issued to the public.
Demand Notes are unique in United States Currency, in that they alone bear neither the Treasury Seal nor the actual names of the Treasurer and Register of the Treasury. They also have the serial number imprinted only once. Sixty million dollars in currency was authorized to be issued by the above Acts. This was a very large sum for those days and involved the printing and signing of several million actual notes. At this time, a situation arose which was unprecedented.
Estimated Value $20,000 - 24,000.
View details and enlarged photos
| Realized
$27,600 |
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