Washington, D.C., August 15, 1864, $50, Fr#212, Issued and punch cancelled "Interest Bearing Note". Black printing with green border, Colby | Spinner signatures, S/N 118501 pp A. PMG graded Very Fine 20 with note of Punch hole Cancelled and Restoration, This note, issued under the Act of March 3, 1865, earned 7.3% interest per annum, payable after three years. It features a green border with intricate security prints, including a central eagle vignette—larger than the one on $10 Legal Tender Notes. This eagle, when inverted, resembles a donkey, leading to the nickname "Jackass Notes." A red spiked Treasury Seal is positioned at the right, while the engraved signatures of Colby and Spinner appear at the lower left and right, respectively. Red serial numbers are printed at the lower left and upper right. The reverse is ornately printed in green, with a clause stating that the note could be converted into bonds after five years, accompanied by large "50" counters on either side. Originally, these notes included five coupons at the right edge; however, none remain on this example. Only seven examples of this catalog number are known, with one housed in the Smithsonian Institution’s National Numismatic Collection. $50 Interest Bearing Notes are extremely rare, making this an important opportunity for collectors.
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