Treasury (Coin) Notes

Treasury Notes are a specific type of Legal Tender note. They were issued by the congressional Legal Tender act of July 14, 1890 for the Treasury Department to purchase Silver bullion. These notes were payable in specie or coin but could be redeemded in either silver or gold. The public wanted gold and the redemption of these notes for gold coin played a major role in the depletion of the Treasury reserve and the Panic of 1893.

This type of note was issued in denominations of of $1.00, $2.00, $5.00, $10.00, $20.00, $50.00, $100.00 and $1000.00.

Because these notes were payable in coin, they are often called "Coin Notes".

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