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    Exceedingly Rare November 1, 1709 16 Lyon Dollars Note

    Colony of New York November 1, 1709 Lyon Dollars Issue 16 Lyon Dollars or 11 Ounces of Plate Fr. NY-11. PCGS About New 53PPQ.
    This is the rarest issue of 1709 New York notes and among the rarest of all New York Colonial notes. There are very few Lyon Dollar notes known, and we believe there are less than ten of all denominations in private hands (five examples were in the Boyd collection). This is a great rarity and represents one of the key series from all Colonial currency. The issue was backed with 10,000 ounces of silver. Lyon dollars themselves were Dutch "Silver Dollars" which circulated worldwide as trade coins, just as the Spanish Milled Dollars. The rate of 5 shillings 6 pence was pegged to each (Lyon) dollar. There is also an interesting use of multiple denomination equivalents based on weight (here "11 Ounces of Plate"). There were only 300 notes authorized. The style is similar to the other 1709 notes printed by Bradford, with typeset texts on the face and indent design at the top. There are four signatures, as required, like those appearing on the prior November 1, 1709, Shilling Issue. Of the few Lyon Dollar issue notes known, most are 4 Lyon Dollars (2 Oz., 15 dws.). It has been over 13 years since a 16 Lyon Dollars note has appeared for sale. That particular Boyd note, Ford Part III: Lot 611, was inferior to this by far and realized $12,650 in May 2004. The two Newman Collection 20 Lyon Dollars notes were eagerly pursued in Newman Part VI and Part VII. Prior to that, our research had not found any instance of the 20 Lyon Dollars denomination offered for public sale. The Boyd 16 Lyon Dollars note is the only other example we know of. Notes from the issue are rarely offered and only present in the most important Colonial currency collections. Auction records other than Boyd and Newman are virtually nonexistent. In our January 2002 FUN auction we sold a 4 Lyon dollars note, Lot 356 (Serial No. 50, "Very Choice New"), for $37,375. At the time, that was one of the highest prices achieved for a Colonial. This is the first auction offering of this superb note and an important opportunity. Rated Rarity 8 (1-3 known), and the finer of only two confirmed examples of the type.
    Ex: Eric P. Newman Numismatic Education Society

    Auction Info

    Auction Dates
    November, 2017
    1st-2nd Wednesday-Thursday
    Bids + Registered Phone Bidders: 17
    Lot Tracking Activity: N/A
    Page Views: 1,664

    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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