Interest Bearing Note

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$50 three-year Interest Bearing Note (1865), 7.3% interest paid semi-annually (with all coupons still attached).

Interest Bearing Note refers to a grouping of Civil War era paper money-related emissions of the Treasury. The grouping includes the one and two year notes authorized by the Act of March 3, 1863, which bore interest at 5 percent, were a legal tender at face value, and were issued in denominations of $10, $20, $50, $100, $500 and $1000.[1] The grouping also frequently includes the early Civil War Treasury Notes which matured in either sixty days or two years and bore interest at six percent and the Seven-thirties which matured in three years and bore interest at 7.3 percent - though both of these latter issues lacked legal tender status.[2] Reference texts used by currency collectors will also sometimes include Compound Interest Treasury Notes and Refunding Certificates in this grouping as well.

Denominational set of Interest Bearing Notes ($10 / $20 / $50 / $100)[edit]

Images are courtesy of the National Numismatic Collection at the National Museum of American History (Smithsonian Institution).

Interest Bearing Notes
Value Year Fr. Image Portrait
$10 1864 Fr.196a US-$10-IBN-1864-Fr.196a.jpg Salmon P. Chase
$20 1864 Fr.197 US-$20-IBN-1864-Fr.197.jpg Abraham Lincoln
$50 1864 Fr.203 US-$50-IBN-1864-Fr.203.jpg Three female figures
$100 1865 Fr.212e US-$100-IBN-1865-Fr.212e.jpg Winfield Scott


  1. ^ Hessler, Gene and Chambliss, Carlson (2006). The Comprehensive Catalog of U.S. Paper Money, 7th edition, Port Clinton, Ohio: BNR Press ISBN 0-931960-66-5.
  2. ^ Major marketers of rare currency notes make this grouping choice in their on-line sites.