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Greenback #2

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This is a note which is both numismatically beautiful and historically significant.

 

1863 of course was one of the most significant times in American history. The nation was embroiled in a bitter civil war (1861-1865)

 

The war was not only costly in terms of lives (600,000+ dead, 1 million+ wounded) the question arose of how to continue to fund it.

 

After much debate the legal tender act of 1862 was passed. This allowed for the printing of $150 million of currency not backed by a similar amount of gold or silver,

 

Many people predicted a total financial meltdown. These notes were required by law to be accepted by creditors at face value. Fortunately, they worked out much better than expected;

 

the government was able to pay its bills, and Northern economy was stimulated.

 

This note features a great portrait of the man who was leading the nation through the difficult times; Abraham Lincoln. What's nice about this note is it circulated during the war while Lincoln was still alive.

 

The center of the note features what many consider to be the greatest symbol in all of currency; a spread winged bald eagle. Symbolic of both America and Liberty itself its image could not be more meaningful than in 1863. Also notice the Liberty Shield.

 

The back of the note has a vivid green reverse and thus these notes are often referred to as greenbacks.

 

This particular type is a tough note in the Gem grade. PMG has graded 4 at 65, 2 at 66 and none higher.

 

 

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