DescriptionContinental Currency May 10, 1775 $1 PCGS Choice About New 55PPQ.
The Continental Currency series with 102 different type notes has enjoyed great popularity in the past few years. The notes are quite interesting as circulating governmental obligations issued by Congress. Later in the Revolutionary War, their rapid depreciation rendered them essentially worthless: hence the expression "Not worth a Continental." When this currency became repudiated debt after the war, the populace who suffered losses had such disdain for paper money that the Federal government did not issue circulating on-demand-obligation paper money until it became necessary at the onset of the Civil War. The formation of a high-quality 102-note typeset includes several rarer series and some sleeper types. The May 10, 1775 Session $1 note is one of the underrated types in very high grade, and it has historical significance as our first government-issued dollar bill. We have never seen a fully uncirculated note; as the lowest denomination in the series, they would have been frequently used to make change. The highest grade given by PCGS is 58PPQ for the former Boyd note. This is a beautiful, premium example and one of the finest we have seen. There is a wide bank of sheet margin at the left, the surfaces are very pleasing, and the pair of signatures is nicely penned. An important note that stands on its own or is ideal for placement in any Continental Currency collection. In our last auction, the PCGS 58PPQ that was part of the Continental Congress Collection sold for $4935.
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