NNP

La Banque (Royale) July 1, 1720 10 Livres SCWPM# A20a. PCGS Choice About New 58. The La Louisiane notes, collected in the American series for generations, are historic artifacts reflecting the intersection of 18th Century European "Bubble" financing schemes and the North American continent. The territory was expansive and surrounded the Mississippi River as it flowed south from present-day Wisconsin and drained into the Gulf through New Orleans. Importantly, the land surrounding St. Louis, the eventual Missouri Territory and later State of Missouri were included. These technically French notes (and listed in the Standard Catalogue of World Paper Money) were Royal issues created by Scottish born John Law in order to stimulate investments in these New World territories. The earliest Banque Generale notes (1716-1718), signed by Law himself, are virtually unobtainable. They were replaced by rarely seen 1719 Banque Royale notes. The Boyd-Raymond holdings contained no 1719-dated notes, only 1720 examples. This second series July 1, 1720 note is printed on white indented paper and has an embossed seal at bottom center. Since the dispersal of the Boyd-Raymond-Ford notes in 2005, these are difficult to obtain, especially in such choice condition. Ex: Eric P. Newman Numismatic Education Society

From Newman VIII (Heritage Auctions, 11/2017), lot 28036, realized $1440. Image and description courtesy of Heritage Auctions, https://ha.com.