Fr. 1. 1861 $5 Demand Note. PCGS Banknote Very Fine 20.The Demand Notes represent the birth of Federal U.S. currency as we know it. Issued in late August 1861 to help finance the Civil War, they are unique in that they do not bear the Treasury Seal, and only have one serial number. A total of $60 million was authorized to be issued which was a considerable sum of money 160 years ago. They were officially payable at five locations: New York, Philadelphia, Boston, Cincinnati and St. Louis, but only the first three appear with any frequency. The last two are quite rare. The presently offered note is payable at New York and like all Demand notes, is hand signed by representatives of the offices of the Register of the Treasury and Treasurer of the United States. While not perfect, it is an acceptable circulated note with much of the original green overprint and red serial number still standing out against lightly toned paper. PCGS Banknote mentions "Minor Glue, Minor Edge Split" on the back of the holder, most of which is visible at the center of the top margin. Minor repairs are often found on these early notes, so if youve been looking to add a Demand Note to your collection at a reasonable price, dont overlook this one. PCGS Banknote comments "Minor Glue, Minor Edge Split".
