United States Note

A United States Note, also known as a Legal Tender Note, is a type of paper money that was issued from 1862 to 1971 in the U.S. Having been current for over 100 years, they were issued for longer than any other form of U.S. paper money. They were known popularly as "greenbacks" in their heyday, a name inherited from the Demand Notes that they replaced in 1862. Often called Legal Tender Notes, they were called United States Notes by the First Legal Tender Act, which authorized them as a form of fiat currency. During the 1860's the so-called second obligation on the reverse of the notes stated:

This Note is Legal Tender for All Debts Public and Private Except Duties On Imports And Interest On The Public Debt; And Is Redeemable In Payment Of All Loans Made To The United States.

They were originally issued directly into circulation by the U.S. Treasury to pay expenses incurred by the Union during the American Civil War. Over the next century, the legislation governing these notes was modified many times and numerous versions have been issued by the Treasury.

United States Notes that were issued in the large-size format, before 1929, differ dramatically in appearance when compared to modern American currency, but those issued in the small-size format, starting in 1929, are very similar to contemporary Federal Reserve Notes with the highly visible distinction of having red U.S. Treasury Seals and serial numbers in place of green ones.

Existing United States Notes remain valid currency in the United States. However, since no United States Notes have been issued since January 1971, they are vanishingly rare in circulation.

Read more about United States NoteComparison To Federal Reserve Notes, Characteristics, Public Debt of The United States, Politics and Controversy

Other articles related to "united states note, united states, states, note, notes":

United States Note - Politics and Controversy
... The United States Congress had enacted the Legal Tender Acts during the U.S ... Secretary Chase had become Chief Justice of the United States and a Democrat, and spearheaded the decision invalidating his own actions during the war ... The states in the far west stayed loyal to the Union, but also had hard money sympathies ...
United States Two-dollar Bill - History - Small Size Notes - 1929–1966
... was changed to its current size, the $2 bill was issued only as a United States Note ... The note's seal and serial numbers were red ... of 1928 $2 bill featured the treasury seal superimposed by the United States Note obligation to the left and a large gray to the right ...
United States One-dollar Bill - History - Large Size Notes
... in ≅ 189 × 79 mm) 1862 The first one-dollar bill was issued as a Legal Tender Note (United States Note) with a portrait of Salmon P. 1869 The $1 United States Note was redesigned with a portrait of George Washington in the center and a vignette of Christopher Columbus sighting land ... The obverse of the note also featured green and blue tinting ...
30th United States Congress
... The Thirtieth United States Congress was a meeting of the legislative branch of the United States federal government, consisting of the United States Senate and the United States House of Representatives ... of seats in the House of Representatives was based on the Sixth Census of the United States in 1840 ...
Cnote - Large Size Note History
... ( 7.4218 × 3.125 in ≅ 189 × 79 mm) 1861 Three-year 100 dollar Interest Bearing Notes were issued that paid 7.3% interest per year ... These notes were not primarily designed to circulate, and were payable to the original purchaser of the dollar bill ... The obverse of the note featured a portrait of General Winfield Scott ...

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