5 Dollars

The Treasury of Liberia began issuing paper money in the 1850s partly because the republic lacked the hard currency reserves to sustain commerce — coin was chronically scarce, and trade with American merchant interests demanded a functional medium of exchange. These early Treasury notes were effectively government obligations rather than bank-issued currency, since Liberia had no central bank at the time.

P#9 is among the rarest of the series. The five-year date range reflects uncertainty about when individual notes were actually signed and released, not a continuous print run — surviving examples suggest issuance was sporadic and small in volume.