Interest Bearing Note

Interest Bearing Note refers to a grouping of Civil War era paper money-related emissions of the Treasury. The grouping includes the one and two year notes authorized by the Act of March 3, 1863, which bore interest at 5 percent, were a legal tender at face value, and were issued in denominations of $10, $20, $50, $100, $500 and $1000.^[1] The grouping also frequently includes the early Civil War Treasury Notes which matured in either sixty days or two years and bore interest at six percent and the Seven-thirties which matured in three years and bore interest at 7.3 percent - though both of these latter issues lacked legal tender status.^[2] Reference texts used by currency collectors will also sometimes include Compound Interest Treasury Notes and Refunding Certificates in this grouping as well.

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