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New York November 1, 1709 (Lyon Dollars) 2 Ounces 15 Pennyweights or 4 Lyon Dollars PCGS Choice About New 55PPQ.. ...
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Sold on Aug 11, 2010 for:
$23,000.00
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Description
Outstanding New York November 1, 1709 Silver Valued Issue Note
New York November 1, 1709 (Lyon Dollars) 2 Ounces 15 Pennyweights or 4 Lyon Dollars PCGS Choice About New 55PPQ.A gorgeous Silver Valued Issue example from New York, the third colony to issue paper money. A large, indented bill printed by William Bradford, this About New note earned the PPQ designation from PCGS. Possessing eye appeal far superior to the plate example in the Fifth Edition of the Newman reference, this example is beautifully printed, displays wide margins, and retains bold signatures. Although PCGS has identified the serial number as 93, it is actually 53.
The note was part of an original authorization of 10,000 ounces of sliver plate (15,545 Lyon dollars) in bills of credit that were approved in November of 1709 and made receivable for taxes with 2 1/2% interest per year. The interest provision was subsequently revoked. The Lyon Dollar refers to the Dutch coin of the period which showed a rampant lion on both sides: small on one side within a shield, and large on the other as the main design. At the time this note was issued, a Lyon Dollar equaled 5s6d in New York money of account, or thirteen pennyweights and eighteen grains of silver plate.
Robert Walter, Robert Lurting, Johannes Jansen, and Johannes DePeyster were the signers. Each of the men served as mayor of New York City. Bradford printed these notes on their sides in sheets of four with the indent to the left edge, using a woodcut design for the indent. An interesting aside is that Benjamin Franklin sought employment with Bradford, however Bradford did not have enough business at that point to employ him and instead referred Franklin to his son in Philadelphia, also a printer. Franklin later referred to Bradford as "a cunning old fox."
The Very Choice New example we sold at our January 2002 FUN auction realized $37,375. With an increased appreciation of the rarity and beauty of this material in today's market, we would expect this gorgeous example to realize a solid mid-range five figure mark.
Auction Info
2010 August Boston, MA Signature ANA Currency Auction #3511 (go to Auction Home page)
Auction Dates
August, 2010
11th-16th
Wednesday-Monday
Bids + Registered Phone Bidders: 2
Lot Tracking Activity: N/A
Page Views: 2,546
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