DescriptionContinental Congress Federal Indent Anderson 166 $2 PMG Very Fine 30 Net.
The old CAA handled this note in May 2001, and that description read in part, "This is the first piece we have offered and to our knowledge, the only piece to have appeared at public auction in decades. Eric Newman, in the Early Paper Money of America, 4th Edition, page 71, tells the story of these notes: 'After the end of hostilities, the Continental Congress, although unable to redeem its paper money, was faced with the obligation of meeting the interest and principal on its domestic and foreign bonds and paying the current expenses of the national government. Accordingly, the Continental Congress anticipated such expenses by requisitioning the funds with issues of indents in convenient denominations payable to the bearer and receivable for taxes.' All issues were signed by either John Hardy or Michael Hillegas." This remains one of the finest examples we have seen. The apparent grade is for minor ink erosion. Save for that and a few light folds, the note is flawless.
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