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Massachusetts August 18, 1775 1s PMG Fine 12 Net....
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Massachusetts August 18, 1775 1s PMG Fine 12 Net. This is the first Sword in Hand issue. It was engraved and printed by the famous Colonial patriot Paul Revere. Sixteen different denominations were printed, and fifteen of the sixteen had a small ship vignette on the face. Only this 1s denomination bears a pine tree vignette on the face where the ship is normally found. The appealing design on the back includes an American Revolutionary figure holding a sword in one hand and a copy of the Magna Carta in the other. The text includes "Issued in defence of American Liberty." and "Ense petit placidam, sub Libertate Quietem" (By arms he seeks peace with freedom). Joseph Wheeler's signature is clearly visible. The other signature has faded, but appears to be that of Thomas Plympton. Only 10,000 of these notes were printed and this example is numbered 151. PMG has noted tape repairs and pinholes on this example, although neither are particularly prominent. The tape is on the back and does not touch the design elements. The pinholes are in actuality needle holes from when the note was sewn together to strengthen a breaking centerfold. In spite of its heavy use, it retains considerable collector value due to its historic importance and lack of availability in higher grades. The 5th edition Newman lists this note at $10,000 in Fine--nearly triple the price of all the other fifteen denominations. It is also the only denomination listed with no price above the Fine grade, while all other denominations are priced in VF and XF.Auction Info
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