$10 1879 REFUNDING CERTIFICATE April 1, 1879 Franklin PROBLEM FREE Fr. 214 PMG Very Fine 30

An attractive, mid-grade example of the unusual-sized Refunding Certificate is offered here. Friedberg 214 notes were really circulating bonds that could be purchased by the average person through the Post Office. Banks put them aside in order to earn their interest, too. The interest was capped by Congress in 1907 and their value set at $21.30 each. At that time, there was no longer a need to hold onto them and most all were redeemed. This example has solid paper and nice margins. Most impressively, it remains free of any negative comments or problems making it a rare treat for the grade and type as many come with flaws and restoration.