Unique 1861 $50 Note Sells for Over Half Million Dollars

A $50 two-year Interest Bearing Note of 1861 was sold for $605,000 on May 19th in an auction conducted by Currency Auctions of America. The note is the earliest piece of federal paper money known to exist. Graded Very Fine, it is the only U.S. note unique for type and denomination as well as series. The note was purchased by an agent for a collector.