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2 Dollars 'Greenback'
| Issuer | United States Treasury |
|---|---|
| Year | 1862 |
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| Shape | Rectangular |
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|---|---|
| Obverse lettering | ACT OF JULY 11th 1862 THE UNITED STATES Will pay to the bearer TWO DOLLARS AT THE TREASURY IN NEW YORK WASHINGTON II August 1st 1862 [Serial Number] SERIES PATENTED APRIL 23rd 1860 NATIONAL BANK NOTE COMPANY |
| Reverse description | The reverse is printed entirely in green ink, its design composed of elaborate engine-turned guilloche work filling the full field. Four large circular lathe-work medallions occupy the corners, each enclosing the numeral '2', while a central oval panel surrounded by concentric rings of repeating '2' numerals and floral ornaments carries the legal tender obligation text in a combination of script and bold letterpress. |
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| Comments |
The 1862 United States Notes were the first federally issued paper currency in American history — not bank obligations, not private banknotes, but direct obligations of the Treasury itself, authorized by the Legal Tender Act of February 25, 1862, as the Union scrambled to finance an increasingly expensive war. The nickname "greenback" stuck immediately, derived from the distinctive green ink applied to the reverse, a deliberate anti-counterfeiting measure since early photographic copying could not reproduce color.
The National Bank Note Company produced these under emergency contract conditions. Two series exist for the 2 Dollar denomination — Series of 1862 and 1863 — distinguished by the countersignature arrangements and the number of authorized Treasury officials whose signatures appear on the face.