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    Continental Currency Indent September 27 1785 $4 PMG Very Fine 25 Net....

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    Colonial Notes:Continental Congress Issues, Continental Currency Indent September 27 1785 $4 PMG Very Fine 25Net....
    Colonial Notes:Continental Congress Issues, Continental Currency Indent September 27 1785 $4 PMG Very Fine 25Net....
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    Description

    Rare 1785 Continental Indent

    Continental Currency Indent September 27 1785 $4 PMG Very Fine 25 Net. These indented bills were issue by the Continental Congress from 1782 through 1787. Early in the issuing period, the value depreciated by about 20%, but as the notes were accepted for taxes, the value quickly recovered. By 1782 Congress was unable to honor the large quantity of Continental notes that were in circulation, and their value fell to nearly nothing (not worth a continental sound familiar?). These notes were then issued to circulate, and were accepted in payment of taxes (which earlier Continentals were not). The authorized signers were John Hardy and Michael Hillegas...with almost almost all of the known examples signed by Hardy. His bold clear signature led early collectors to refer to these then mysterious rare notes as "Hardy Bills". Newman identifies the denominations as $1, $2, $4, $6, $8 and $25 but he speculates that other denominations were also issued. Notes are know only with issue dates of September 27, 1785 and October 11, 1787 but other dates were undoubtedly used. In the course of our 50 sales we have handled less than five of these ultra rare notes. A wonderful item that would complement any advanced collection of Continental Currency. It has been Net graded by PMG for "Ink Burn" which has weakened a few of the handwritten portions of the note, but the overall appearance is that of a far higher grade.
    From The Collection of a Louisiana Gentleman

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    Auction Info

    Auction Dates
    September, 2008
    17th-21st Wednesday-Sunday
    Bids + Registered Phone Bidders: 4
    Lot Tracking Activity: N/A
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