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Early Paper Money of America / Pennsylvania / 1723/24 January 17

£30,000 in indented legal tender Loan Office Bills approved by the Act of Dec. 12, 1723. Originally due July 17, 1736 but accelerated to Mar. 1, 1731/32 by the Act of Jan. 4, 1730/31. Of this amount £26,500 was to be loaned on security with principal repayable over 12 1/2 years. On bills of 5s and over the number of crowns equivalent to the denomination was included in the text to prevent raising the bills by alteration. Elaborate cut for indenture with blank backs. Signers were Samuel Hudson, Anthony Morris, Francis Rawle, and Charles Read. British-made counterfeits caused a recall of counterfeited denominations.

1s [7,000] ▷CF◁
1s6d [4,000]
2s [6,000]
2s6d [6,000]
5s [6,000] ▷CF◁
10s [5,000]
15s [8,000]
20s [18,000]  Very Fine $17,250 Stack’s May, 2004 
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