DescriptionMassachusetts 1781 $16 PMG About Uncirculated 50 EPQ.
When we last sold this note in April 2011 we used the following description: "We have handled a number of these items which were extremely rare until about six years ago when a small group of $16 notes (our best guess is about a dozen) turned up. This is one of those $16 notes. At the time, we sold three of those pieces in one sale, with the following description, 'The entire issue is unpriced in Newman and noted as 'Extremely Rare' in Friedberg. Until this small group appeared, no examples were known of this $16 denomination, and the other denominations ($4, $6 and $8) were represented by one to three of each. These three notes turned up with a large group of canceled Massachusetts Guaranteed notes and a small group of high-grade Massachusetts fiscal paper.' As of this writing, the $16 has become the most common denomination with about a dozen now known. A few VFs have sold for between $600 and $700 recently. This nice AU, which has been assigned PMG's exceptional paper quality comment, should realize right around $2000." No additional pieces have surfaced and the small group seems to have been absorbed by the market.
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