Friedberg 210 (W-4410). 1861 $1,000 Interest Bearing Note. PCGS Currency Choice About New 58. Proof.Offered is an impressive $1000 Interest Bearing Note proof produced by the American Bank Note Company. It features the portrait of Salmon P. Chase at center flanked by two large green denomination counters. An imprint of the American Bank Note Company is below Chases portrait. Additional 1000 die counters are at top left and right. This note is actually made from an India paper face proof and an India paper back proof both mounted to a single card.pThese Interest Bearing Notes were issued in accordance to an Act of Congress dated July 17, 1861. An engraved issue date of August 19, 1861, is found at lower right. Issued notes bore interest at a rate of 7.3% per annum for three years and were convertible into 20 year 6% U.S. bonds. The proof seen here displays sharply printed plate impressions with brilliant green overprints. Four red zeros are found in the serial number spaces at top left and right of center. Six punch cancellations are observed in the signature panels. The back is printed in green with large cycloidal microprinted ornaments to left and right. Die counter 1000s are found at top and bottom center. The imprint of the American Bank Note Company is seen at the left edge. This example has no coupons attached. pNo issued notes are known to survive for the type leaving just a few proof examples to the collecting public. The grading service makes mention of a small edge tear on the back at bottom center. pFrom Heritage Auctions sale of May 2005, lot 16694.
