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Early Paper Money of America / New York / 1788 February 8

£200,000 in Bills of Credit receivable for taxes and legal tender until Dec. 31, 1800 were issued pursuant to the Feb. 8, 1788 Act to replace the heavily counterfeited April 18, 1786 emission. Four face borders, the State Arms, and allegorical back vignettes were engraved by Peter R. Maverick (1755-1811). A warning to counterfeiters was reinstated. Printed on thick paper by Hugh Gaine in red and black on the face and in black on the back. Signers were Hendrick Wyckoff, Daniel McCormick, John DePeyster, and Nicholas Hoffman.

5s Very Fine $12,650 Stack’s October, 2006 
£1 Fine $12,650 Stack’s October, 2006  
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