Demand notes are the oldest type of paper money printed by the United States. The twenty dollar bill, like all other denominations, is very scarce. Most examples available on the market today have been heavily circulated and many have been professionally repaired or restored. These were first issued in 1861 during the Civil War. There was a shortage of coins due to metal hoarding. Any paper money that circulated traded hands frequently, hence the heavy use. The first twenty dollar legal tender notes issued by The United States had a very similar design. The only difference was some wording on the bill and the addition of a red seal. Be careful if you are evaluating any money from this time period. A lot of it is counterfeit. We always recommend having a professional take a look at it.
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