 State of Pennsylvania. June 1, 1780 Act. Twenty Dollars. Serial No.1. Signed by Cather and Wister; countersigned on the back by R.[ichard] Bache. Printed on thin paper, watermarked 'CONFEDE/RATION'. Standard size, designs and imprint as used on Maryland and other State issued ''Guaranteed'' notes. Without red interest payable stamping on face. Like the New York Guaranteed bills, this is a very rare series. There were 25,000 notes of each denomination authorized. Any note from the Act is hard to come by and significant.
This is an incredible capstone to a tremendous selection of seven of the eight denominations on this key series. Handwritten number one notes on the Colonial paper and Obsolete paper series have never had the broader appeal of number 1 machine serial numbered notes in the U.S. Federal series. However, there are only eight number one notes on the Act, one of each denomination. We have never seen or heard of a number 1 note on the entire Guaranteed genre. The foundational collectors must be thanked for plucking this prize and sending it forth to us later caretakers.
Not a beauty, but attractive enough and unique in its subtle charm. Very Fine to Extremely Fine. Still very crisp, despite a few vertical folds and wrinkling. The bottom left has serious foxing patches showing through to the back. The margins are above average and the back color is still sharp. Hard to evaluate. Likely to be undervalued as this is a rarity in any grade or serial number. However, as a number 1 note on the Act, we feel it is worth a hefty premium. Bidding demand will determine the value. After the fall of the hammer, the owner sets the next price if he so desires to part with this historic treasure.
Ex F.C.C. Boyd Estate.
| |
|
