Description

    Important First Bill of Exchange- One of Two Known

    Continental Loan Office Bill of Exchange First Bill $30 November 4, 1778 Anderson US-97/MA-5A PMG Extremely Fine 40 EPQ.
    In our May 2003 auction we sold a First Bill of Exchange for $2,990. Our description included the following, "What makes it particularly valuable is the fact that it is a 'First Bill.' Four copies of each bill were sent. If the first bill was received, it was valid and used, but many bills were lost, captured, or otherwise went astray. As soon as any one of the set made it to Paris, the others in the set lost all value. Consequently, third and fourths are very common, According to William G. Anderson in The Price of Liberty, 'Presently, no first bill of exchange is known to have survived, second bills are rare, and third and fourth bills are very common.' We know of the existence of only one other 'first.'" The example being offered tonight is that other First Bill of Exchange. We originally offered it at our Long Beach 2009 auction where it realized $2,760. It is signed by Hopkinson and Appleton and payable to John Simpkins. This wonderful note is bright, problem free, and earned the Exceptional Paper Quality designation from PMG. It bears serial number 72 and is redeemable in Paris. According to the endorsements on the back, Simpkins signed this note over to Samuel Parkman, who in turn signed it over to Jona. Williams. Jonathan Williams served as the commercial agent in Nantes, the port of entry generally used in France for tobacco and produce shipments from the United States. He was Benjamin Franklin's nephew. One fortunate bidder will be the latest to lay claim to this $30 when the hammer falls tonight.


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    Auction Info

    Auction Dates
    April, 2015
    22nd-28th Wednesday-Tuesday
    Bids + Registered Phone Bidders: 3
    Lot Tracking Activity: N/A
    Page Views: 235

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