$20 1864= Fr.191a=RARE=COMPOUND INTEREST TREASURY NOTE=PCGS VERY FINE 30

This is an absolutely iconic and aesthetically-pleasing Compound Interest Treasury Note. This note remains historically significant as the United States Treasury Department in 1863 and 1864 released these. The CITNs could be used as face value or could accrue interest for up to three years. At that time the government was giving six percent annual interest compounded semi-annually. The value of this note if redeemed after 3 years would of been $23.88. The interest table is displayed on the back. This note bears impeccable artistry including vignettes of Victory at the left with a mortar at center and President Lincoln on the right. Only 25% of the CITNs from this Friedberg number have been graded higher, while the majority fall within the VF range or lower. Of course, many of these have objectionable flaws which often result in a net or apparent designation. PCGS comments 'restorations' on the back of this note which refers to a couple professionally sealed internal splits that barely detectable.

Product ID	545953
Series Year	1864
Country	United States
Denomination	$20
Grade	30
Signature	Colby Spinner
Grading Agency	PCGS Currency
Category	Compound Interest Treasury Notes
Serial No
Status	Active
Seal	Red Treasury seal
Fr / Pick #	191a
Additional Info	-