Proof of First American 1-Dollar Bill and Actual Dollar Bill, 1862
Proof copy of the first American one dollar bill, framed together with an actual period dollar bill. Framed and matted. Proof: Height: 3 ½ inches x 7 ¼ inches; frame: Height: 12 inches x 12 inches.
The original dollar was a Civil War issue, made in 1862 in an effort for the Union government to raise money for its war efforts. In that second year, the Union was facing serious opposition from the South, and had many challenges, not least of which were economic. The dollar was the brainchild of then-Secretary of the Treasury, Salmon P. Chase. It was he who had it created, and it is his portrait it bears. As an ironic side-note, it was Salmon, who was later Chief Justice of the Supreme Court, and who voted against the legality of the paper tender.
The consignor purchased the lot from the Christie's New York Banknotes Sale, which took place March 22, 1994, and it is listed on page 52 of the catalogue.
Estimate: $12,000 - $14,000