Fr. 7. 1861 $10 Demand Note. Philadelphia. PMG Very Fine 20.

Fr. 7. 1861 $10 Demand Note. Philadelphia. PMG Very Fine 20.，The Demand Notes of 1861 represent the first large issue of federal paper money since Continental Currency days. In the 1790s when state-chartered banks began to issue notes, a new emission of federal paper may have been met with rejection. In any event, decades passed with state-chartered institutions providing most of the supply of banknotes. Problem free examples for this catalog number are very few and this piece importantly has just honest circulation. The portrait of Lincoln is to the left, while he was still president, a policy that was later changed to show only deceased individuals. An eagle with a draped shield is seen at the center and an allegory representing Art at the right. A very nice back design characterizes the variety, with the motif filling nearly all of the available paper surface. Overall a highlight which will enhance any upper level collection of large-size notes.，，