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The lower the serial number, the more valuable the currency is considered to be; a bill with the serial number 00000001 could be worth $15,000, according to SavingAdvice.com. 2. High Number
In 1994, the United States Court of Appeals, Ninth Circuit, held in the case of United States of America v. U.S. Currency, $30,060.00 (39 F.3d 1039 63 USLW 2351, No. 92-55919) that the widespread presence of illegal substances on paper currency in the Los Angeles area created a situation where the reaction of a drug-sniffing dog would not ...
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.
As the Civil War progressed and victory for the South seemed less and less likely, its value declined. After the Confederacy's defeat, its money had no value, and individuals and banks lost large sums. The first series of Confederate paper money, issued in March 1861, bore interest and had a total circulation of $1,000,000. [1]
This depreciation of colonial currency was harmful to creditors in Great Britain when colonists paid their debts with money that had lost value. The British parliament passed several currency acts to regulate the paper money issued by the colonies. The Currency Act 1751 restricted the issue of paper
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.