Treasury Note (1890–1891)
The Treasury Note (also known as a Coin Note) was a type of representative money issued by the United States government from 1890 until 1893 under authority of the Sherman Silver Purchase Act in denominations of , , , , , , and . It was issued in two series: an 1890 series with , , , , , and denominations, and an 1891 series that added the denomination. A note was designed but never issued. Usage The government issued the Treasury Note to individuals selling silver bullion to the US Treasury, Treasury. Unlike other redemption notes like Silver certificate (United States), silver and gold certificate (United States), gold certificates (which stipulated whether the note was backed by and redeemable for silver or gold coin, respectively), Treasury Notes stipulated only that they were redeemable in coin. This allowed the Treasury to fulfil the note's obligation in silver coin, gold coin, or both, at its discretion when the note was redeemed. This flexibility allowed the Tre ...
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