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Lot 89390

Image Information

Type Currency
Title Lot 89390
Date May 10, 1780
Country United States
Denomination $600 Crescit Sub Pondere Virtus
Description State of New-York - Treasury of this State 6% Six Month Loan Certificate "...upon the Purchases of forfeited Lands" 2000 Continental Dollars June 5, 1780 Anderson-Smythe NY-UNL. PCGS Choice About New 55 Apparent. A remarkable and exceedingly rare small format certificate from New York. Not reported, this may be the cited, but unconfirmed, NY-4 in Anderson-Smythe. Printed on thick laid paper. 14.0 cm by 8.0 cm. The typeset obligation is contained within ornamental bordering, the left with multiple rows and indented at issuance. No. 227. Fully issued to John Taylor and signed by Gerard Bancker as treasurer. The back is fully endorsed with principal and interest paid, $2,043 on October 15, 1780. The great rarity of this loan certificate is due to the short term of six months and because it is from New York (all New York fiscal paper is rare). The certificate may have been redeemed for State of New York "Guaranteed by the United States" notes, which are the rarest from that State-issued Colonial currency series. It appears most of those notes were eventually redeemed for subsequent instruments, and the remaining Guaranteed notes were destroyed by the State. Noted only with some "Mounting Remnants on Back." A very important New York Colonial fiscal piece and the first seen by us. Ex: Eric P. Newman Numismatic Education Society, Heritage Auctions Internet Sale (5/2017). (Description courtesy of Heritage Auctions, Realized $4700.00.

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