00 War OF 1812 Treasury Note FR TN-1 PCGS 40 RARE & HISTORICALLY SIGNIFICANT

Description

FR TN-1  00  War of 1812 Treasury Note  Act of June 30, 1812  PCGS 40
remainder -
Throughout the history of our country, the United States of America has issued several different types of paper money. During the colonial period for example, the American colonies produced paper money under English rule.  Primarily due to the shortage of coins throughout our developing nation, the issuance of currency was a matter of financial necessity.  After the ratification of our Constitution in 1789, the United States established a coinage system and soon afterwards was striking coins at the Philadelphia Mint.  From 1793 until 1861, it was not necessary for the Federal Government to issue paper money, or at least as far as we knew it.  However, during those 69 years there were periods of war, economic turmoil and episodes of fear and uncertainty that put a significant drain on the Treasury.  To meet these financial demands caused by these unfortunate events, the United States Government would at times issue Treasury Notes. These Treasury Notes were essentially promissory notes that bore interest over time and as a result were redeemed as quickly as possible.  The War of 1812 was one of those historical situations that led to the issuance of Treasury Notes.  As it stands today, for all different denominations and all five Acts of Congress to help fund the War, there are only 138 examples known today. Many are remainders (no signatures or not fully signed), or proofs and dozens of them are hole punched cancelled. There are only 2 fully signed and issued War of 1812 Treasury Notes known to have actually circulate as money.
This note being offered is the highest denominated War of 1812 Treasury Note and there are only 2 other examples known.  The 3 known are all unsigned remainders and they were payable one year from date of issue.  Considering that this note was one of the FIRST PAPER MONEY issued for circulation here in the United States, it still retains much of its originality and displays superb print detail on bright paper.
This note tells one of the best stories in numismatics today and by securing this historically significant piece, it will move your paper money collection to a whole new level. We gladly accept returns within 30 days minus a 2.9% restocking fee.  Thank you