The Finest of Only Two Examples Graded at Both Services CombinedPennsylvania April 20, 1781 £5 PCGS New 62PPQ.
If the left face margin were as broad as the other three, this rare note would be a perfect gem. It is the finest known: PMG has never graded one and PCGS has graded two with this the only Uncirculated example. Save for this piece, the only note of this denomination and issue that we have handled was at FUN in 2002. We described that note "An extreme rarity that is very underappreciated by all but the few Colonial Experts. This is the first £5 note from this issue that this cataloger has handled in forty years of dealing with Colonial notes. Both Newman and Friedberg indicate that this note is scarcer than the rest of the issue, but neither gives any assessment of the note's true rarity. We are aware of only one other example, and the note is on the want list of every current Colonial collector that we know of. In our opinion, notes like this make Colonial one of the most intriguing collecting areas, as major rarities can be purchased for modest sums, and great bargains can still be found with a little knowledge and a lot of patience." It's likely that the only other example graded by PCGS is the piece we sold in 2002. That note was raw we and it XF-AU; it sold for $1667 thirteen years ago. This note is infinitely superior and will probably remain finest known forever.
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