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North Carolina December 29, 1785 40s PCGS Very Fine 30.. ...
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North Carolina December 29, 1785 40s PCGS Very Fine 30.On initial examination, we simply presumed this was a counterfeit as the boldly penned "X" across the face would indicate in almost every instance. After examining the Newman book, the Newman sale catalogs, and Stack's October 2006 sale catalog, we have come to the conclusion that the note is not a counterfeit and the explanation for the pen cancellation has disappeared with the snows of yesteryear. The counterfeit examples of this note have two diagnostics in the arm holding the sword. The one mentioned in Newman is that the arm holding the sword is at an angle. The easier seen diagnostic is that the arm is shaded extremely minimally on the genuine and darkly filled in on the counterfeit. There is the vague possibility that this is simply an unknown counterfeit, but after very careful study that certainly seems unlikely. PCGS agrees and has holdered this note as a genuine example that has been pen cancelled.
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