||Rhode Island March 18, 1750 2 Ounces, 10 dwt. (8 Pounds Old Tenor) Contemporary Counterfeit Fr. RI-65a. PCGS Good 6 Apparent. This is a rare and historical note series. The act authorized 50,000 pounds of New Tenor bills (200,000 pounds Old Tenor) and denominated the notes on the face in "Coin Silver of Sterling Alloy" amounts. This enactment for notes spurred the English Parliament to pass the Currency Act of March 12, 1750/1751 to restrict New England Bill of Credit issues. This is the second highest denomination authorized, but is missing portions around the perimeter and is backed upon a piece of a 1764 newspaper. That backing includes a complete advertisement for a sale of "Virginia Tobacco." A rare type, even as a contemporary counterfeit. Noted with "Splits, Damage, and Sewn to Backing." Perhaps unique, and the only example we have encountered. Ex: Eric P. Newman Numismatic Education Society
Realized $352.50. Newman VII (Heritage Auctions, 10/2015), lot 19014. Description courtesy of Heritage Auctions.