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Demand Notes are considered the first paper money issued by the United States whose main purpose was to circulate. They were made because of a coin shortage as people hoarded their coins during the American Civil War and were issued in denominations of $5, $10 and $20. They were redeemable in coin. They were replaced by United States Notes in 1862.
A solid serial number is one where every digit is the same, like 55555555. Only about one out of every 11 million notes is a solid, and they can be worth $500 or more.
The United States also issued fractional currency for a brief time in the 1860s and 1870s, in several denominations each less than a dollar. Denomination Obverse
Pennsylvania's paper currency, secured by land, generally maintained its value against gold from 1723 until the revolution broke out in 1775. [ 9 ] This depreciation of colonial currency was harmful to creditors in Great Britain when colonists paid their debts with money that had lost value.
The same goes for collecting, saving or reselling old paper money. Learn: 5 Best Places To Sell Rare Coins and Paper Money Make Up To $100K ‘Coin Roll Hunting’: 5 Tips for Making Money From ...
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 United States. Having been current for 109 years, they were issued for longer than any other form of U.S. paper money other than the currently issued Federal Reserve Note .