Redeemable in MadridContinental Loan Office Bill of Exchange Fourth Bill- $225 July 8, 1780 Anderson US-105/MA-5A. PMG Choice Very Fine 35 Net.
Most all of these bills of exchange from the Continental Loan office are redeemable in Paris. This one is the far rarer "Redeemable in Madrid" variety. This bill was redeemable in Madrid and the text of the note was changed accordingly from Livres Tournois to Mexican Dollars. Blue-green and red inks were used for this denomination. The ornate borders were the work of Francis Hopkinson. Boldly signed by Hopkinson and Appleton, with the payee being Alexander Thomas, whose endorsement is seen on the back. Ink burn, though minor, was listed as the reason for the net grade. Assigned a Low R6 rating in Anderson's The Price of Liberty, indicating 21 to 30 estimated survivors, this bill will be a wonderful addition to the winning bidder's collection.
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