FR 2 $5 1861 Demand Note PCGS 25


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This is an example of the first type of paper money to circulate here in the United States. Released shortly after the start of the Civil War in 1861, these notes were looked down upon by the American public. People wanted gold and silver coins, not these so called “Greenbacks.” The desire for gold and silver was so strong that these notes circulated for less than their face value, sometimes up to 50% less! Listed as #2 in the Friedberg book, #38 in the 100 Greatest American Currency Notes and certified with no negative comments, this note is a great example of the inception of paper money here in the United States.


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