1862 $500 Twenty-year Coupon Bond
Six Percent Registered Bond
Issued May 1, 1862
This $500 issued coupon bond was authorized by the Congressional Act of February 25, 1862. Known as the Legal Tender Act, this legislation allowed the federal government to pay its bills using the Greenbacks- the demand currency newly introduced a year prior. The act also provided for further issuance of registered and coupon bonds. This example was issued to financial firm of Fisk & Hatch. Working with the famous investment banker Jay Cooke, Fisk & Hatch were one of the leading brokers in government bonds during the war, helping the Union secure its financing. Printed by the National Bank Note Company.
This example is from The Joe I. Herbstman Memorial Collection of American Finance