Sold for: Sign-in or Join (free & quick)

    Description

    Extremely Rare 1780 "Independence" $50

    North Carolina 1780 $50 Independence PCGS Very Fine 30.
    This small issue consisted of the balance of the total that was authorized for the August 8, 1778 issue that was not printed due to the smallpox epidemic, £24,876 5s. The 1780 notes were authorized on April 17, 1780. Not all of the $16 notes had been printed for the 1778 issue, etc., however only $50 notes were authorized for this issue due to inflation. According to Watson in Money and Monetary Problems in Early North Carolina, in 1778 the paper notes circulated at a rate of 3.5 to 1 for specie. A mere two years later, when this issue was authorized, the rate had increased to 6 to 1 (by 1782 that had increased to a staggering 600 to 1). Richard Cogdell stated that "A string of Fish which used to cost 12d is now 1920d, or 20 Dollars."

    The only change from the 1778 notes was the 1780 date on the back, with the August 8, 1778 date remaining on the face. There were three different varieties of $50 notes. This is the variety with the motto, "Independence." Only 498 examples were printed of each of the three varieties and the present piece is the only one of the issue that we have ever handled. An extreme rarity which realized $8050 in its only other auction appearance which was in October 2006.
    From the Kings Mountain Collection


    View all of [The Kings Mountain Collection ]

    Fees, Shipping, and Handling Description: Coins & Currency (view shipping information)

    Sales Tax information  |  Terms and Conditions

    Bidding Guidelines and Bid Increments

    Glossary of Terms

    Auction Info

    Auction Dates
    September, 2011
    7th-12th Wednesday-Monday
    Bids + Registered Phone Bidders: 3
    Lot Tracking Activity: N/A
    Page Views: 3,274

    Buyer's Premium per Lot:
    15% of the successful bid (minimum $14) per lot.

    Heritage membership

    Join Now - It's Free

    VIEW BENEFITS
    1. Past Auction Values (prices, photos, full descriptions, etc.)
    2. Bid online
    3. Free Collector newsletter
    4. Want List with instant e-mail notifications
    5. Reduced auction commissions when you resell your
      winnings 
    Consign now
    • Cash Advances
    • More Bidders
    • Trusted Experts
    • Over 200,000 Satisfied Consignors Since 1976
    Consign to the 2017 November 1 - 3 Eric P. Newman VIII Currency Signature Auction - Dallas.

    Learn about consigning with us

    The complete end to end service you provided me was simply unparalleled by anyone in the industry.
    [ Entire Letter » ]
    Gregg Bingham
    View More Testimonials

    HA.com receives more traffic than any other auction house website. (Source: Similarweb.com)

    Video tutorial

    Getting the most out of search

    Recent auctions

    2017 June 21 - 23 HKINF World Currency Signature Auction - Hong Kong
    2017 June 21 - 23 HKINF World Currency Signature Auction - Hong Kong
    REALIZED $1,149,869