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Lot 89364

Image Information

Type Currency
Title Lot 89364
Date 1781
Country United States
Denomination $16
Description Colony of the Massachusetts Bay - Provincial Act of May 3, 1775 6% Loan due June 1, 1777. 5 Pounds 4 Shillings Augt. 10, 1775 Anderson-Smythe MA-1. PCGS Very Fine 20 Apparent. A foundational American loan certificate with strong ties to American Colonial Currency and security printing history. Rare, artistically important, and with a historic character that is evident immediately. Printed from a copper plate engraved by Paul Revere and used for the early financing of the American Revolution. Uniface on laid paper; a light watermark is noted, but not attributable. 17.5 cm by 20.0 cm. The Revere copper plate for this issue is noteworthy. The oblong vignette cut in the indented left end shows Native American King Philip (cited as a "patriot'' in Brigham, 1954; type of plate 73, following page 142) with a codfish emblem near the top and "CMB" monogram at the bottom; interwoven flourishes balance the design. Underneath the engraved cut, the majority of "American Paper" remains. Superbly engraved cursive texts and obligation are in the center. Gothic "Massachusetts" is at the center of the mixed font title at top. Directly beneath, Revere styled brackets with the serial number are at left, and a dark oval with an outlined white "1775," as used on the 1775 Copperplate notes, is at far right. Similar to Ford Part XV: Lot 8179 (ex Boyd Collection). Fully issued for 5 Pounds 4 Shillings to Moses Dickinson on Augt' 10, 1775. No. 3244. The three committee signatures of Dan. Hopkins, Saml. Phillips, and Edw. Johnson, are at lower left. The witness signature of Henry Gardner, signer of 1775 copperplate notes, is pen cancelled on his surname. A perpendicular 1784 Interest Paid endorsement between ruled lines is down the center. Back calculation endorsements are on the left of the folded, docket side. Preceding the Continental Currency and Revere copperplate notes, the enacted loan exercised through these certificates was important and financed the infancy of the American Revolution. Authorization was based upon Colonial enactments passed during the reign of George II, specifically the Royal General Court's June 20, 1744, "Act for ascertaining the Rates at which coined Silver & Gold, English half pence & farthings, may pass within this Government ... ," and is engraved within the obligations. An authorization of 100,000 pounds Sterling eventually saw the majority redeemed or replaced with future notes or bonds of Massachusetts Bay. This bond was printed from one of the four copper plates for which Revere was paid 50 pounds to engrave for the Colony. A vibrant, early plate state example with sharp engraving. Broad, full sized with a natural and attractive indent showing a significant portion of "American Paper." Grading notes "Splits, Tears, and Hinge Repairs." The paper quality is strong from the face; the noted splits are observed from the verso and closed with antique hinges not affecting the face. The Rarity-6 (21-30) rating in Anderson-Smythe reflects all examples tabulated when the book was published in 1983. Many are in museums, and often examples in private collections are off the market for decades, such as this Newman Collection example. This is an iconic American engraving and impressive financial instrument exemplifying the spirit of the early Revolutionary War. Ex: Eric P. Newman Numismatic Education Society, Heritage Auctions Internet Sale (5/2017). (Description courtesy of Heritage Auctions, Realized $7343.75.

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Image Collection Eric P. Newman Collection (Internet Sale 3)
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