1862 $1 Currency Note FR16 PMG CU63 EPQ

Born Of The Civil War, The Greenback—America’s First Federal $1 Bill!

After becoming President Abraham Lincoln’s Secretary of the Treasury, Salmon Chase was beset by problems that had nothing to do with the fact his parents named him after a fish. Rather, his problems were related to keeping the government afloat financially during the early days of the Civil War. He inaugurated the basis of paper money issued by the U.S. government, and this legal tender note is one of America’s first Federal $1 bills. And, thanks to its bright green back, it was christened with the nickname “greenback,” a popular moniker that has stayed ever since!

The Father Of U.S. Paper Money

Fittingly, this intricately engraved vintage note features the portrait of Salmon Chase, regarded as the “Father of U.S. Paper Money” for his efforts to reform America’s currency system during the Civil War. In addition to serving as America’s 25th Treasury Secretary, Chase also served as the 23rd governor of Ohio, represented Ohio in the United States Senate, and was the sixth chief justice of the United States. During his time as Treasury Secretary from 1861–1864, Chase met the challenge of financing the Civil War by establishing a national banking system and the issue of the first U.S. federal currency. This secured an immediate market for government bonds and provided a permanent, uniform, and stable national currency. It also fell to Chase to design the $1 demand note, the first U.S. Federal currency. Instead of placing George Washington on the $1 bill (that wouldn’t happen until 1869), Chase put hie own face on the note. If the move was meant to further his political career it sure didn’t hurt as he stepped into the role of Chief Justice just a few months after he left his Treasury post and served on the Supreme Court until his death in 1873.

A large “Horse Blanket” note measuring 7⅜" x 3⅛"—which is about 40% larger than today’s notes—this 1862 $1 Greenback Note is designated as Friedberg #16 (FR16) and it’s the only Friedberg-numbered note in this issue. This designation refers to the numbering system in the widely used Paper Money of the United States reference book written by Arthur L. Friedberg and Ira S. Friedberg. The FR numbers indicate varieties existing within a larger type design. This note is graded as Crisp Uncirculated-63 (CU63) by Paper Money Guaranty (PMG), and according to the current PMG population report, only 398 have been submitted, and just 10 have graded in this condition and only 12 notes have graded higher, making the note available here a scarce, coveted specimen.

Act Fast! Only One Note Available!

Over the years, collectors have made this note one of the most popular currency issues of all time. Despite being more than 160 years old, this captivating note can still be yours. We have only ONE available, so hurry if you want it for your collection! Discover the spirit of America for yourself and add this note to your cart right now before someone else beats you to it!

PRODUCT HIGHLIGHTS:

• AMERICA’S FIRST FEDERAL DOLLAR BILL – The 1862 $1 Note is one of the first federal $1 bills. It features a portrait of Treasury Secretary Salmon Chase on the front of the note with a bright green back, popularizing the term “greenback.”
• LARGE “HORSE BLANKET” SIZE – This vintage note is referred to as a “horse blanket” note for its large size. At 7.375" x 3.125" it’s 40% larger than the notes of today.
• LEGAL TENDER CURRENCY NOTE – Each 1862 $1 Greenback Note was one dollar legal tender. The words “THE UNITED STATES WILL PAY THE BEARER ONE DOLLAR” are printed on the note to assure recipients that it was legitimate, and that the U.S. government would fulfil its obligation to pay.
• INCREDIBLE GRADE FOR THIS TYPE OF NOTE – Your 1862 $1 Greenback Note comes graded by Paper Money Guaranty (PMG) in Crisp Uncirculated 63 Exceptional Paper Quality (CU63 EPQ) condition. That’s a remarkable grade considering the age and widespread circulation notes like this saw during 19th Century. Only 170 of these notes have been submitted to PMG for grading, making this a scarce and coveted specimen.

This large, “horse blanket” 1862 $1 Greenback Note is America’s first Federal dollar bill and must-have for any collector. It comes graded by PMG in Crisp Uncirculated-63 Exceptional Paper Quality (EPQ) condition! Only ONE is available, so act fast!