20002: Fr. 1 $5 1861 Demand Note PMG Extremely Fine 40

Fr. 1 $5 1861 Demand Note PMG Extremely Fine 40 EPQ. This note is one of the iconic issues of United States paper money. First issued in the summer of 1861, so-called Demand Notes could be used for all dues to the federal government including import duties that traditionally were required to be paid in gold coin. Needless to say these notes were retained for this use as they were "good as gold." These notes are very scarce today, particularly in higher grades. Interestingly, the notes were handsigned for the Register and Treasurer by a large number of paid signers and bore no Treasury seal. This example has survived the last 159 years in great shape. Its paper is still bright with original surfaces, with dark, vibrant colors, and dark penned signatures. There is no evidence of repair or damage beyond faint evidence of limited circulation as expected for this grade. This historic note will make a wonderful addition to any large size type or Civil War collection. It is one of the finest examples known, and one of a small number to sport the EPQ designation. The last public auction appearance for this note was in 1993, when it crossed the auction block for $4,400. HID03101062020 © 2020 Heritage Auctions | All Rights Reserved