Paper Money

Kagin writes book on War of 1812 Treasury notes

A new book by Donald H. Kagin, Treasury Notes of the War of 1812, has been published in a limited edition of 250 copies by the author. 

A statement from Kagin’s Inc. calls it the first reference work covering the complete accounting of what many consider to be the first circulating paper money of the United States. Succinct yet comprehensive, the book tells the story of the young United States’ struggles to finance the War of 1812 against Great Britain.

Financing was critical to the new nation, and was difficult without adequate funding from import duties and loans. Calls for a paper currency met with fierce opposition, especially from those who remembered the catastrophe of Colonial and Continental Currency.

counterfeit 1834 Classic Head centInside Coin World: Nearly all U.S. coins series are threatened by counterfeiters: Modern counterfeiting risks from China, a counterfeit note from the 1840s newly rediscovered, and a look at Flying Eagle cents, all in the April 8 issue of “Coin World.”

Despite intense political opposition, the paper currency proponents eventually prevailed, resulting in Congress authorizing the Treasury Department to print interest-bearing Treasury notes. Eventually, lower denomination non-interest-bearing notes were made, which circulated as the new nation’s first currency.

The 52-page hardbound book presents this often overlooked but immensely important series of United States paper currency with a dozen tables, over a hundred citations and references, and a complete listing with images of all known issues, types and varieties for the first time.

Copies of the limited edition hardbound books may be purchased for $39.95 by contacting or 888-852-4467. The firm’s address is 1550 Tiburon Blvd #201, Belvedere Tiburon, CA 94920. 

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