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Early Paper Money of America / Virginia / 1773 March 4 Act

Substitution of new bills had been required June 1, 1774 for £36,384 Treasurer's Promissory Notes issued on James River Bank forms by the March 4, 1773 Act. Elaborately engraved indented bills by Henry (Harry) Ashby, an engraver of London were printed in England on fine laid paper. The notes did not reach Virginia until September 1773 and were then completed without dating, and emitted. Some forms were left over. The bills were referred to as "London Notes". For double numbering, see the prior issue. Signers were John Blair, B. Dandridge, Philip Johnson, William Norvell, and Peyton Randolph. Countersigned by Robert Carter Nicholas on the back. The original copper plate used for printing the £3 notes exists. The Virginia copper halfpence minted at the Tower Mint in London for Colonial Virginia and dated 1773 arrived by the ship Virginia on February 14, 1774 and were stored at the Magazine in Williamsburg. On February 27, 1775 Robert Carter Nichols, the Virginia Treasury issued a proclamation authorizing their release, giving the holders of Virginia Treasury Bills dated 1773 either on James River Bank forms or on Henry Ashby forms to exchange any of their bills for 1773 Virginia copper halfpence in an equal amount. Few people did so.

20s (£2) [1,100] 

£2 [1,300] 

£3 [500] 

£5 [900]

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