Legal Tenders

United States Notes, also known as a Legal Tender Note, was a type of paper money that was issued from 1862 to 1971 in the United States. Having been current for over 100 years, they were issued for longer than any other form  of United States paper money. They were known popularly as "greenbacks" in their day, a name inherited from the Demand Notes that they replaced in 1862.                                                                                                                                                                           They were called United States Notes by the First Legal Tender Act, which authorized them as a form of fiat currency, but because their value derives from their status as legal tender they bear the inscription "This Note is a Legal Tender" and are often called Legal Tender Notes. They were originally issued directly into circulation by the U.S. Treasury to pay expenses incurred by the Union during the American Civil War. Over the next century, the legislation governing these notes was modified many times and numerous emissions were undertaken by the Treasury.