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    Connecticut "Imlay Certificate" for Oversubscribed Federal Debt

    Colonial American Fiscal Paper - United State Loan Office [for the] State of Connecticut Certificate for Receipt for Oversubscribed Federal Debt April 19, 1793 Anderson-Smythe CT-56 or "Imlay Certificate."
    This State of Connecticut certificate relates directly to the federal debt certificates created by Hamilton's plan enacted and approved by the President, August 4, 1790 (an original printed extract of that imprinted enactment is offered in this Newman Part VIII sale). Per the language of the Congressional Act, each state was responsible for assuming any oversubscribed funded debt; these certificates converted that federal obligation into state debt. An attractive certificate printed on laid paper with the imprint of "Francis Bailey - Printer" at left. The oval Great Seal of the United States is to the left of the obligations and issuance line, with denominational indents at the far left. The printed portion measures 22.0 cm by 19.0 cm (the blank leaf is folded behind). No. 85. Issued for $1,029.21 to George Service of New York. Signed by William Imlay as commissioner. There is a large cut-cancel within the center, but the note is vibrant and Very Fine. Only 150 were authorized for Connecticut, thus these are very scarce.
    Ex: Eric P. Newman Numismatic Education Society


    Auction Info

    Auction Dates
    November, 2017
    1st-2nd Wednesday-Thursday
    Internet/Mail Bids: 8
    Lot Tracking Activity: N/A
    Page Views: 119

    Buyer's Premium per Lot:
    20% of the successful bid (minimum $19) per lot.

    Truth Seeker: The Life of Eric P. Newman (softcover)
    A powerful and intimidating dealer of the 1960s, backed by important colleagues, was accused of selling fraudulent gold coins and ingots to unsuspecting numismatists. Who would go up against a man like that and, over the course of decades, prove the fraud? Who would expose a widely respected scholar as a thief, then doggedly pursue recovery of coins that the scholar had stolen from an embarrassed numismatic organization, all over the objections of influential collectors who had bought coins with clouded titles? Eric P. Newman would - and did. Reserve your copy today.
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