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Legal Tender notes are one of the earliest types of US Paper money. The first issued Legal Tender bills
began circulation in 1862 and they are still in use today in the form of the $2.00 bill.
Legal Tender Notes, aka United States Notes have an obligation printed on them that reads:
"This note is a Legal Tender for all debts public and private..."
There are variations of the obligation text but those words above will be instantly recognizable.
Legal Tender notes are among the most interesting and varied designs. Earlier notes can be scarce!
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1) Series 1862 - In the denominations of $1.00, $2.00, $5.00, $10.00, $20.00, $50.00, $100.00, $500.00, $1000.00
Any denomination greater than $20 is very scarce and very desirable. The $500 and $1000 are essentially uncollectible.
This series is the one that gave the US paper money the nickname Greenback because that was a feature of their design.
Click here for images and more on Series 1862 Legal Tender bills
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2) Series 1869 - $1.00, $2.00, $5.00, $10.00, $20.00, $50.00, $100.00, $500.00
These are known as the Rainbow series. They are beautiful notes with blue colored paper and intricate vignettes.
They are highly collectible and a popular series to collect in high grades.
Denominations higher than the $20 are pricey as they are rare.
The $500 in the series only four are known to exist and two of those are in Federal collections.
Click here for images and more on Series 1869 Legal Tender bills
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3) Series 1880 - $1.00, $2.00, $5.00, $10.00, $20.00, $50.00, $100.00, $500.00, $1000.00
Series 1880 Legal tenders are a relatively common for of old paper money. They are easily collected and make a nice
entry point for a beginning collector. Values over $50.00 are scarce will be pricey.
Click here for images and more on Series 1880 Legal Tender bills
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4) Series 1917 - $1.00, $2.00
Series 1917 Legal tenders only came in two denominations and they are both pretty common. Most of these bills are going to be worth 40 to 500 but values
can go higher for notes in the highest of grades.
Click here for images and more on Series 1917 Legal Tender bills
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5) Series 1923 - $1.00, $10.00
Legal Tender bills in 1923 only came two denominations. The $1.00 note which is pretty common and the $10.00. The $10.00 is a one year type note and it's got a nice unique design that looks like a poker chip.
For this reason the bill is known to the hobby as the Pokerchip. They are not common and they are always in demand. A low grade example is always attainable
but higher grades are not, and as a result they can be pricey.
Click here for images and more on the Series 1923 Legal Tender Pokerchip $10.00 Bill
This image of an 1874 $500 Legal Tender is one of only five known to exist. This note has a value into the mid six figures.
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