Description

    Rare and Early 1734 Portsmouth Merchant's Note

    Province of New Hampshire Dec. 25, 1734 Portsmouth Merchant's Note 10 Shillings Fr. NH-38.5. PCGS Extremely Fine 40 Apparent.
    This is a uniquely styled and interesting issue, not unlike the Massachusetts Banking notes from 1740. The notes were issued by the group of merchants led by Hunking Wentworth, in Portsmouth, during the period when the Crown prohibited the Colony from emitting further bills of credit. To facilitate commerce (hence their motto BENEFICIO COMMERCI on the face), they issued these "Tall" bills due to scarcity of other bills of credit and specie. The notes caused a reaction and early in 1735, a large group of Boston merchants agreed not to redeem such notes. These tall bills were 1% interest bearing, payable in 1746 and printed on laid paper from well-engraved copper plates. In the center are the detailed obligations. Scroll work and filigree corners are at the top along with an angel's head with wings behind. At lower left is the Pine Tree emblem with their motto BENEFICIO COMMERCI. The note was also printed on the back with a distinctively designed ship at sail and ornate scrollwork above. The face has three signatures and is countersigned by Hunking Wentworth on the back, just under the vignette. The Apparent designation is for "Splits and Repairs; Stains." A rare series and a more difficult denomination. Though there are detriments, the strong printing clarity is a bonus. High grade Merchant's Notes are five-figures traditionally. This example is very collectible.

    Ex: Eric P. Newman Numismatic Education Society.


    View all of [Selections From The Eric. P. Newman Collection, Part VI a. ]

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    Auction Dates
    April, 2015
    22nd-28th Wednesday-Tuesday
    Bids + Registered Phone Bidders: 11
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    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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