Lot 3121
1861, $5 Demand Note. . Fr-2. . KL-185. PCGS Very Fine 25PPQ. A wonderful example of our first greenback and a note that is always in great demand, though this is purely coincidental in calling the 1861 series a "Demand Note." Alexander Hamilton is set in a small oval frame at the lower right of the design. A wartime inflation measure, the employment of paper money by the federal government had last occurred in the War of 1812. In both cases, its implementation resulted in disturbed markets for years afterward.
Estimated Value $3,500 - 4,000.
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| Realized $4,600 |
