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5 pounds

Image Information

Type Currency
Title 5 pounds
Date July 10, 1733 Redated May 1740 and July 8,1740 ba
Country United States
Grade Choice About New 55
Service PCGS
Denomination 5 pounds
Description Colony of Connecticut July 10, 1733 Redated May, 1740 Face and July 8, 1740 Back 5 Pounds Fr. CT-48d. PCGS Choice About New 55 Apparent. This is a very rare and unusual issue. The double re-dating, on the face and back, resulted from an additional authorization used to pay bounties and expeditionary forces to the Spanish West Indies. Extremely choice for this type of bill, it is part of a small serial number run discovered long ago. Two were in Boyd, but since then none have surfaced for sale. The DuPont Collection did not have an example. Printed on laid paper with the imprint of Timothy Green on the back. Ornate scrollwork encloses the text, and at the base is a lion motif (a different vignette on each denomination was used as an anti-raising device); arms are at the lower left. The back text is not enclosed, type ornaments are at the top, and the re-dating is at the bottom. The face printing is light, apparently due to a worn or poorly inked plate. The paper body is natural and shows boldly impressed embossing. The Apparent notations are minor, with "Small Edge tear at Upper Left; Tape Remnants on Back." This serial number 1966 note was previously the Newman plate note, but it has been replaced by a higher resolution image of the serial number 1961 Boyd Collection duplicate note. That lovely example was discovered in 1955-56 within a small group (quantity unspecified in Ford's private notes on Colonial currency) that was subsequently sold to New Netherlands Coin Co. by Dorothy Paschal, co-author of the revised Penny Whimsy. The Boyd collection acquired two of these notes. They were in the same serial range as, and fairly equivalent in condition to, the present example. The first example from the Ford-Boyd Collection, Serial No. 1965, was sold in Stack's May 2005 Ford III Sale, Lot 546, for $18,400. The Boyd duplicate, now the Newman plate note, also sold for $18,400 in the January 2006 Ford VIII auction. It is interesting to note that our survey of other elite collections with early Bills of Credit did not find any notes of this type, and that the Paschal-New Netherlands group was quite small. Very few early New England Bills of Credit are in Choice condition, so this is a splendid opportunity. Ex: Eric P. Newman Numismatic Education Society. Realized $8,225.00. Newman VI (Heritage Auctions, 4/2015), lot 19454. Description courtesy of Heritage Auctions.
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