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1862 $1 Legal Tender Notes Values By Grade
About These Price Ranges
The values shown below are for standard notes only, based on actual eBay and Heritage Auctions data.
IMPORTANT: If your note has any special features such as:
Its value could be significantly higher. Check the "Special Features Value Impact" section below to find your note's potential premium value.
| Grade | Total Records | Price Range | |
|---|---|---|---|
| Premium (65+ EPQ) | GEM-67 | 6 | $3,105.00 |
| GEM-66 | 7 | $6,325.00 | |
| GEM-65 | 17 | $3,565.00 | |
| Uncirculated (50-64) | UNC-64 | 75 | $2,300.00 |
| UNC-63 | 73 | $1,920.00 | |
| UNC-62 | 28 | $1,486.15 | |
| UNC-61 | 4 | $1,320.00 | |
| UNC-60 | 25 | $1,322.50 | |
| AU-58 | 80 | $1,781.25 | |
| AU-55 | 56 | $1,320.00 | |
| AU-53 | 14 | $1,336.25 | |
| AU-50 | 23 | $1,057.50 | |
| Circulated (1-45) | XF-45 | 20 | $1,053.75 |
| XF-40 | 60 | $925.00 | |
| VF-35 | 43 | $763.75 | |
| VF-30 | 62 | $712.50 | |
| VF-25 | 83 | $528.00 | |
| VF-20 | 123 | $488.75 | |
| FN-15 | 67 | $352.50 | |
| FN-12 | 106 | $290.88 | |
| VG-10 | 29 | $228.00 | |
| VG-8 | 56 | $186.44 | |
| GD-6 | 20 | $160.25 | |
| GD-4 | 17 | $120.75 | |
Highest Records Sales
Exceptional sales that have set market records. View Full History >
Special Features Value Impact
From modest premiums to jaw-dropping values—discover which special features can transform ordinary bills into prized collectibles. Explore each feature to see detailed price ranges organized by denomination, note type, and series—all based on verified auction and sales data.
1950E Federal Reserve Note. The L-D block had a printing of roughly one-fourth of the L-C block
What are Special Block Identifier?
Bills with distinctive block lettering or numbering, excluding experimental or web notes. These represent specific production batches identified by letter-number combinations in the serial number. Collectors value certain rare blocks, replacement blocks, and final blocks of a series. Their significance lies in identifying specific production runs, with first and last blocks of a series or denomination often commanding the highest premiums.
Value Chart By Note Denomination & Series
| Deno. | Series | Circulated | Uncirculated | Premium | Check Prices |
|---|---|---|---|---|---|
| $1 | 1862 | $84.75 - $21,600.00 | $1,821.25 - $2,280.00 | $12,925.00 - $17,250.00 | Find SalesView |
There are no pinholes, tears or ink
What are Missing Print Error Note?
Error notes with completely missing elements such as seals, serial numbers, or design features. These dramatic printing omissions result from production failures where an entire printing stage was skipped. Highly valued by error collectors for their obvious visual incompleteness and the significant quality control failure they represent. Their value increases with the importance and size of the missing element, with completely missing faces or backs being the most valuable.
Value Chart By Note Denomination & Series
| Deno. | Series | Circulated | Uncirculated | Premium | Check Prices |
|---|---|---|---|---|---|
| $1 | 1862 | $107.75 - $253.00 | - | - | Find SalesView |
Inverted Overprint Fr. 2030-B $10 1993 Federal Reserve Note.
What are Overprint Error Note?
Error notes with misplaced or double overprinting of seals or serial numbers, excluding Hawaii overprints. These production errors create visually striking abnormalities where Treasury seals or serial numbers appear in incorrect positions or are duplicated. Their value stems from their obvious visual distinctiveness and the clear evidence they provide of mechanical failures during the complex multi-step printing process used for currency production.
Value Chart By Note Denomination & Series
| Deno. | Series | Circulated | Uncirculated | Premium | Check Prices |
|---|---|---|---|---|---|
| $1 | 1862 | $451.00 - $1,057.50 | $1,410.00 - $3,600.00 | - | Find SalesView |
I have a 1862 New York Treasury note with the Chase picture on it. It was given new as the required annual pay to my grandmother for her volunteer work at the Soldier’s Home in Indianapolis in 1944. S/N is 40617. I would like to know its value, please. Perhaps I should sell it.
Dear TL Horn,
Thank you for your inquiry about your 1862 $1 Legal Tender Note featuring Secretary of the Treasury Salmon P. Chase.
What you have is a truly historic piece of American currency history. This was the first one-dollar bill issued as a Legal Tender Note (United States Note) during the Civil War, and Salmon P. Chase, who appears on your note, is considered the father of U.S. paper money. These notes were issued under the Legal Tender Act to help finance the Union’s efforts during the Civil War.
The fact that your grandmother received this note in 1944 as annual pay for volunteer work at the Soldier’s Home in Indianapolis makes it even more special as a family heirloom with a personal connection to military service.
Regarding its value, these 1862 $1 Legal Tender Notes are quite valuable to collectors. In average condition, they typically range from $100-$200, while notes in good condition can be worth over $500, and those in pristine condition can exceed $850. The value depends significantly on the note’s condition, the specific variety (there are different Friedberg numbers), and the serial number.
Your note with serial number 40617 appears to be a relatively low number, which could potentially add to its value.
If you’re considering selling it, I would recommend:
Given its historical significance and potential value, along with its personal connection to your family, you might want to consider whether selling is the right option or if preserving it as a family heirloom would be more meaningful.