Interest bearing note


Interest bearing notes refers to a grouping of Civil War era paper money-related emissions of the US Treasury. The grouping includes the one- and two-year notes authorized by the Act of March 3, 1863, which bore interest at five percent per annum, were a legal tender at face value, and were issued in denominations of $10, $20, $50, $100, $500 and $1000. The grouping also frequently includes the early civil war treasury notes which matured in either sixty days or two years and bore interest at six percent and the seven-thirties which matured in three years and bore interest at 7.3 percent—though both of these latter issues lacked legal tender status. Reference texts used by currency collectors will also sometimes include compound interest treasury notes and Refunding Certificates in this grouping as well.

Denominational set of interest bearing notes

Images are courtesy of the National Numismatic Collection at the National Museum of American History.
ValueTermsYearFr.ImagePortrait/vignettePopulation
$10One year 1864Fr.196aSalmon P. Chase ; Eagle of the Capitol and Peace ;28 known
$20One year 1864Fr.197; Mortar firing ; Abraham Lincoln ; In God is our Trust9 known
$50Two years 1864Fr.203Caduceus ; Justice with Shield ; America 7 known
$100Two years 1864Fr.204Farmer and Mechanic; ); In the Turret2 known
$50Three years 1865Fr.212dEagle and motto6 known
$100Three years 1865Fr.212eWinfield ScottUnknown
$1,000Three years 1865Fr.212g
counterfeit
Justice with Shield
$1,000One year 1863Fr.201
proof
Justice; Liberty
$1,000Two years 1863Fr.206
proof
Guerriere and Constitution; Discovery of the Mississippi by DeSoto
$5,000One year 1863Fr.202
proof
The Altar of Liberty
$5,000Three years 1865Fr.212h
proof
Justice; New Ironsides

Footnotes