Fr.16c, 1862 $1 Legal Tender, 4678

# 5856
America's First Paper One Dollar Note

1862 $1 Legal Tender Note (also called "United States Note"), the first one dollar "greenback"

This example is a "D" position note, originally the bottom note of the four-subject sheet. As such, it exhibits a  oversize bottom margin. Unfortunately, that margin bears circulation damage consisting of numerous small splits (the upper-left tip is also similarly impaired to a lesser extent). Disregarding the impaired paper quality, this note would grade Very Fine. In consideration of the rough margin, we call it a "net fine" and have priced it accordingly. Bear in mind that the note still displays very well, with a beautiful appearing front design of strong original color. This includes a cherry-red seal, which is a lost feature on a large number of the reported 487 other existing notes that are seen with faded seal color.

The Friedberg reference values the Fr.16c at $1750 in VF-20 and $850 in F-12. You should agree that our price reflects a bargain on a very collectible note.

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