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Early Paper Money of America / Virginia / 1771 July 11 Act

£30,000 in Treasury Notes was issued without legal tender status and redeemable by Dec. 10, 1775, similar to 1770 issue. Printed by William Rind with cuts made by William Waddill. "W.N.Pr." or "Wm.Nn.Pr." on bills refers to William Nelson, President of the Council. The word TOBACCO refers to the fact that the issue was to pay for tobacco lost by floods. Virginia in 1730 had begun the use of public warehouse receipts for tobacco and these "Hogshead" notes or transfer notes were freely used in lieu of money. It was the loss of such stored tobacco that forced the Colony to make good its tobacco warehouse receipts based on this issue of money. Signers were John Blair, Jr., and Peyton Randolph.

£2 (8 Crowns)
£3 (12 Crowns)
£5 (20 Crowns) ▷CF◁ Very Fine $2,300 Stack’s Jan. 2005 (Counterfeit)

See also Roger A. Moore, MD, "More on the Virginia July 11, 1771 Currency," The C4 Newsletter, Spring 2024.

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