(a) FR . 2 $5 1861 Demand Note PMG 25

This is the first type of paper money issued for general circulation here in the United States. Released shortly after the start of the Civil War in 1861, these notes were not widely accepted 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 and #38 in the 100 Greatest American Currency Notes, this note is a great example of the inception of paper money here in the United States.