About Interest Bearing Notes
Interest bearing notes, as a group, are the rarest of all United States currency and scarcely trade in private or public sales due to their overall scarcity. American paper currency that bore interest is particularly scarce because the vast majority of individuals who held these notes when they were originally in circulation traded them in to collect interest once the maturity period had passed.
There are three kinds of interest bearing notes, including one-year notes, two-year notes, and three-year notes. One-year notes bore 5 percent interest and were issued in denominations ranging from $10 to $5,000. Two-year notes also bore 5 percent interest and were issued in denominations spanning from $50 to $1,000. Three-year notes carried 7-3/10 percent interest and were issued in denominations from $50 to $5,000.
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