DescriptionContinental Currency April 11, 1778 $5 PCGS Extremely Fine 45PPQ.
An important rarity, as are all Yorktowns, but particularly the lower denominations. Six of the eight denominations of Yorktowns were heavily counterfeited by the British in an effort to undermine the value of the currency of the nascent United States. The existence of the deceptive counterfeits is the reason that this April 11, 1778 issue is the rarest of all the Continentals. When the counterfeits appeared shortly after the genuine notes were issued, the Continental Congress voted to recall all April 11, 1778 notes. This piece luckily escaped that recall and is one of the finest genuine examples we have handled. It is nicely, though somewhat irregularly, margined. A vertical fold at center is primarily visible from the back, providing this note with much of the look of a Choice Uncirculated piece from the face. The signature of W. Momegan, a Hillegas appointee, remains clearly visible. This was the only issue he signed, further adding to the desirability of this note that earned the Premium Paper Quality designation from PCGS and is housed in a comment-free holder. An exceptional note.
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