Description

    Continental Loan Office First of Exchange. This green-printed Continental Loan Office Bill of Exchange was issued from Massachusetts. It's signed for the colony by Nath. Appleton and for the United States by Francis Hopkinson. This is one of the more common varieties from a relatively common colony. 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." This note is of great importance to the collector of early American fiscal documents. It grades fully Extremely Fine and is bright and problem free.

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    Auction Dates
    May, 2003
    1st-3rd Thursday-Saturday
    Bids + Registered Phone Bidders: 3
    Lot Tracking Activity: N/A
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