Description

    Continental Currency September 27, 1785 Indent $1 PMG Choice Fine 15. These indented bills were issued 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 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 known only with issue dates of September 27, 1785 and October 11, 1787 but other dates were undoubtedly used. We've handled very few of these, and they are always extremely popular. They're unpriced in Newman, but he does quote some auction records from a group that was sold in 2005. Those ranged in grade from Fine to Extremely Fine, and all sold for between $2200 and $3200.
    From The Midnight Ride Collection


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    Auction Info

    Auction Dates
    September, 2009
    8th-13th Tuesday-Sunday
    Bids + Registered Phone Bidders: 4
    Lot Tracking Activity: N/A
    Page Views: 4,390

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