$1. 00 1862 Legal Tender, Satirical Artwork Note, FR 17a, Good
Item History & Price
Up for auction is this early$1.00 Series 1862 Legal Tender Note. This was the very first series of Legal Tender or United States Notes theFederal Government Printed. Demand Notesbegan in 1861, the Legal Tenders in 1862. This note features the Second Obligation reverse. There was only one signaturecombination, but two FR#’s for this $1.00 Series 1862 Legal Tender Note. During this time period, the Bureau ofEngraving and Printing was using outside printing sources... to manufacture thesenotes. Both American Banknote Companyand National Banknote Company were directly involved in parts of theirmanufacture. This resulted in twodifferent major and nine minor sub varieties. The Serial number of this note is: 85981Series 24 (I think)Plate Position: AThe Treasury signatureson this note are:Register of TheTreasury: Lucius E. ChittendenTreasurer of The UnitedStates: Francis E. SpinnerSalmon P. Chase appears inthe oval portrait at the left of the note. He was the Secretary of the Treasure under Abraham Lincoln. He later became the Chief Justice of theUnited States Supreme Court serving from 1864 – 1873. This note has an added Pipe& Cap drawn on Salmon Chase in black ink, making it what I refer to as a SatiricalNote. This type of “artwork” was addedduring the time period when these notes circulated, and is most often seen onFractional Currency of the 5th Issue (between 1874 – 1876) period. The artists who drew on these notes weremaking humorous additions and political statements, which I am not going to tryto interpret here. Generally speaking, these illustrations were aimed at a lack of trust in the Government and the Currencyitself. This type of Satirical Art definitelyappeals to a certain group of Currency Collectors. This note has many problems! The paper used on these early1862 Legal Tenders was much thinner than the Banknote paper that we use today. It was a little heavier than the paper usedon Obsolete Banknotes, but did not yet have fibers embedded during the paper-making process. The note has ratty margins all around withmany pieces missing. There are also edgesplits and internal splits and repairs. Ifyou don’t see any paper in the scan, you have to assume that its missing orgone! This note is well worn andprobably saw more than its share of circulation. I scanned the note on the normal blackbackground that I use and then on a white background to try to highlight thesemany defects. I would grade this note asa Good. Please look at the scanscarefully and judge the grade and quality of this note for yourself before youbid.I will ship via USPSFirst Class Mail within the United States with Insurance & Tracking.New Jersey Residents only must add6.625% Sales Tax. Please feel free to contact me withany questions, or if you need better scans of the item, Bob [201] 843 1450EBAY: Vette70Please take a moment to look at mymany other Ebay listings.Good Luck & HappyHunting!
