Exceedingly Rare November 1, 1709 20 Lyon Dollars Note The First Ever Offered at AuctionColony of New York November 1, 1709 Lyons Dollars Issue 20 Lyon Dollars (13 Oz., 15 Dws.) Fr. NY-12. PCGS Choice About New 55.
This is fascinating, and the rarest issue of 1709 notes. There are very few of these Lyon Dollar notes of any denomination known, and we believe there are less than ten known of all denominations in private hands (five impressions were in Boyd). The issue was backed with 10,000 ounces of silver. Lyon dollars themselves were Dutch "Silver Dollars" which circulated worldwide as a trade coin, just as the Spanish Milled Dollars. The rate of 5 Shillings 6 Pence was pegged to each (Lion) dollar. There is also an interesting use of multiple denomination equivalents based on weight. There were only 300 notes authorized, and this denomination was not in Boyd. Our research does not find another of this denomination ever offered for public sale, making this one of the key New York Colonial Currency rarities. The style is similar to the other 1709 notes printed by Bradford, with typeset texts on the face and indent at the top. There are four signatures like those appearing on the shilling issue note. This is a beautiful and well-balanced example. Not far from being a PPQ note, with minimal handling only. In this case, being less than perfect is purely academic. This is exceedingly rare. The Boyd collection contained five Lyon dollar notes, a bonanza that is deceptive, since up to that time there was only one auction record in the modern era for a Lyon dollar note. In our January 2002 FUN auction we sold a 4 Lyon dollars note, Lot 356 (Serial No. 50, "Very Choice New"), at $37,375. At the time, that was one of the highest prices achieved for a Colonial note (with prices surpassing that number for the two 1690 notes auctioned by Smythe at CPMX at just above $50,000). The Boyd collection had a strip of three 4 Lyon dollars notes, interestingly serial numbers from left to right 52, 51, and 49; note that the serial number 50 cited above was once part of the uncut horizontal sheet. Boyd also had the only observed 16 Lyon dollars denomination, which had seen some considerable circulation. This is a fabulous combination of historical significance, highest rarity, and elite Colonial currency pedigree: a significant first public offering. A true Colonial currency prize awaits the successful bidder.
Ex: Eric P. Newman Numismatic Education Society.
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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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