Interest bearing notes are the American Civil War-era paper money-related emissions of the treasury. This includes the one- and two-year notes authorized by the Act of March 3, 1863, which bore interest at five percent, were a legal tender at face value, and were issued in denominations of $10, $20, $50, $100, $500 and $1000. Extant circulated interest bearing notes are rare, and none of the $1000 denomination are known to exist.
Shown here is an interest bearing note in the denomination of $10, issued in 1864. Upon maturity of the note one year after issue, 5% interest was payable. The note features vignettes of Salmon P. Chase, the Eagle of the Capitol, and Peace on its obverse.
See another denomination: $20, $50, $100Banknote: American Bank Note Company and National Bank Note Company; image courtesy of the National Numismatic Collection at the National Museum of American History (Smithsonian Institution)
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