Published in 2008
Federal Reserve Notes VS. United States Notes
Neno- Admin
- Posts : 10948
Join date : 2012-12-17
Age : 61
Location : Lone Star State
Neno- Admin
- Posts : 10948
Join date : 2012-12-17
Age : 61
Location : Lone Star State
United States Note
From Wikipedia, the free encyclopedia
Large-sized Series of 1880 United States Notes; the $20 note displays
Alexander Hamilton and a red scalloped seal, and the $10 Daniel Webster
and a large red spiked seal
A United States Note, also known as a Legal Tender Note, is a type of paper money
that was issued from 1862 to 1971 in the U.S. Having been current for
over 100 years, they were issued for longer than any other form of U.S.
paper money. They were known popularly as "greenbacks" in their heyday, a name inherited from the Demand Notes
that they replaced in 1862. Often called Legal Tender Notes, they were
called United States Notes by the First Legal Tender Act, which
authorized them as a form of fiat currency. During the 1860s the so-called second obligation on the reverse of the notes stated:[1]
This Note is Legal Tender for All Debts Public and Private Except
Duties On Imports And Interest On The Public Debt; And Is Redeemable In
Payment Of All Loans Made To The United States.
They were originally issued directly into circulation by the U.S. Treasury to pay expenses incurred by the Union during the American Civil War.
Over the next century, the legislation governing these notes was
modified many times and numerous versions have been issued by the
Treasury.
United States Notes that were issued in the large-size
format, before 1929, differ dramatically in appearance when compared to
modern American currency, but those issued in the small-size format,
starting in 1929, are very similar to contemporary Federal Reserve Notes with the highly visible distinction of having red U.S. Treasury Seals and serial numbers in place of green ones.
Existing United States Notes remain valid currency in the United
States. However, since no United States Notes have been issued since
January 1971, they are vanishingly rare in circulation.
http://en.wikipedia.org/wiki/United_States_Note
From Wikipedia, the free encyclopedia
Large-sized Series of 1880 United States Notes; the $20 note displays
Alexander Hamilton and a red scalloped seal, and the $10 Daniel Webster
and a large red spiked seal
A United States Note, also known as a Legal Tender Note, is a type of paper money
that was issued from 1862 to 1971 in the U.S. Having been current for
over 100 years, they were issued for longer than any other form of U.S.
paper money. They were known popularly as "greenbacks" in their heyday, a name inherited from the Demand Notes
that they replaced in 1862. Often called Legal Tender Notes, they were
called United States Notes by the First Legal Tender Act, which
authorized them as a form of fiat currency. During the 1860s the so-called second obligation on the reverse of the notes stated:[1]
This Note is Legal Tender for All Debts Public and Private Except
Duties On Imports And Interest On The Public Debt; And Is Redeemable In
Payment Of All Loans Made To The United States.
They were originally issued directly into circulation by the U.S. Treasury to pay expenses incurred by the Union during the American Civil War.
Over the next century, the legislation governing these notes was
modified many times and numerous versions have been issued by the
Treasury.
United States Notes that were issued in the large-size
format, before 1929, differ dramatically in appearance when compared to
modern American currency, but those issued in the small-size format,
starting in 1929, are very similar to contemporary Federal Reserve Notes with the highly visible distinction of having red U.S. Treasury Seals and serial numbers in place of green ones.
Existing United States Notes remain valid currency in the United
States. However, since no United States Notes have been issued since
January 1971, they are vanishingly rare in circulation.
http://en.wikipedia.org/wiki/United_States_Note
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