1862 $1 Legal Tender VG 10 PMG “Green Back” US Currency CIVIL WAR
$700.00
$1 Legal Tender Note from 1862, often called a “Greenback.”
• It was issued during the Civil War, when the U.S. government first created paper money not backed by gold or silver, but by the government’s promise (“legal tender for all debts”).
• These were the very first federal paper money widely circulated, making them historically significant.
Scarcity
• Notes from this period are rare survivors—most were used heavily, wore out, and were destroyed.
• Low denominations like $1 were handled the most, so finding them intact 160+ years later is uncommon, especially with official grading.
Grading & Authentication
• This one is graded by PMG (Paper Money Guaranty) as “Very Good 10.”
• That confirms it’s authentic and collectible, even though the grade is low compared to higher-condition notes.
• Certification adds trust and liquidity in the market.
Design & Signatures
• Features Salmon P. Chase, Lincoln’s Treasury Secretary, who pushed for these notes to fund the Civil War.
• Signed by Chittenden & Spinner, notable Treasury officials whose names add collectible significance.
• Early engravings, red seals, and complex patterns were anti-counterfeiting measures of the time.
Collector Demand
• Appeals to multiple groups:
• Currency collectors (U.S. large-size notes)
• Civil War historians
• Investors in rare paper money
