Description

    Rare Continental Indent Note

    United States Congress Federal Indent September 27, 1785 $4 Fr. UNL Anderson-Smythe 167. PCGS Extremely Fine 45 Apparent.
    The Federal Indents issued from 1782 to 1787 represent an unusual series of Confederation period notes that were created due to the inability of the Continental Congress to redeem its paper money after the war. The new Federal government was still responsible for debt repayments on domestic and foreign bonds, which could only be met using anticipated states' taxations. The notes were created to be payable to the bearer for those taxes in convenient denominations and, in some cases, written in "ninetieths of a Dollar." The indents were issued in September 27, 1785 and October 11, 1787. These are rarely offered. The left side indent design pattern is shaved away on this example, and also noted are "Restorations; Design Redrawn" by PCGS. This is still pleasing to the eye despite the restoration work.
    Ex: Eric P. Newman Numismatic Education Society


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    Auction Info

    Auction Dates
    October, 2015
    21st-24th Wednesday-Saturday
    Bids + Registered Phone Bidders: 6
    Lot Tracking Activity: N/A
    Page Views: 280

    Buyer's Premium per Lot:
    17.5% of the successful bid (minimum $14) per lot.

    Truth Seeker: The Life of Eric P. Newman (softcover)
    A powerful and intimidating dealer of the 1960s, backed by important colleagues, was accused of selling fraudulent gold coins and ingots to unsuspecting numismatists. Who would go up against a man like that and, over the course of decades, prove the fraud? Who would expose a widely respected scholar as a thief, then doggedly pursue recovery of coins that the scholar had stolen from an embarrassed numismatic organization, all over the objections of influential collectors who had bought coins with clouded titles? Eric P. Newman would - and did. Reserve your copy today.
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