Friedberg 196a. 1863 $10 Interest Bearing Note. PMG Very Fine 30. This is a rare type with fewer than 50 examples known. The Pogue specimen is near the top of the condition census for this series, notes from which are often heavily circulated and impaired. The $10 Interest Bearing Notes of 1863 were printed in two imprint varieties. Fr.196 notes were printed first and have the imprint of the American Bank Note Company; Fr.196a examples were printed second and bear the imprint of the Treasury Department. The notes were issued under an Act of Congress dated March 3, 1863 and bore 5% interest for one year. Roughly 620,000 were printed and issued for both varieties combined. They were sold at a discount and redeemed at face value to reflect the interest earned. Various interest starting dates are found, seeming to commence with February 1, 1864. The present note bears a date of February 29, 1864.The design is similar to that seen on more often (but still rarely) encountered Compound Interest Notes with the portrait of Salmon P. Chase at left, the vignette Eagle, Flag and Capitol at center (the same as seen on $1 Silver Certificates of 1899) and standing woman at right representing Peace. There are large green Roman numeral X counters to either side of the central vignette as well as an ornate green protector panel centered towards the bottom of the note. A red spiked Treasury Seal is at the upper right. The back design is ornately printed in green, involving all but the margins. The Legal Tender clause is found at center, flanked by die counter 10s.This note exhibits bright paper and vividly inked engraved design elements. Bold green protector inks vividly portray intricate lathe details. To the top right of center a red spike Treasury Seal is boldly displayed while a red printed May 30, 1864 issue date is found below. The note is evenly circulated and retains a pleasing overall appearance. PMG makes mention of "Minor Restoration" on the back of the holder though any such work has been skillfully achieved and is difficult to detect. This is the Friedberg plate note and was once part of the legendary collection of Albert A. Grinnell. <em>From Albert A. Grinnell; B. Max Mehls sale of June 1943, lot 1074; F.C.C. Boyd; New Netherlands Coin Co.; Robert Friedberg Plate Note; Amon Carter; Currency Auctions of Americas sale of January 1997, lot 2509; Heritages sale of January 2006, lot 17427; Heritages sale of June 2007, lot 15613. </em>
