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South Carolina February 8, 1779 $40 PCGS Apparent Extremely Fine 45.. ...
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South Carolina February 8, 1779 $40 PCGS Apparent Extremely Fine 45.An exceptionally nice example of this lowest and toughest denomination from the issue. The original issue contained only $40, $60, $80 and $100 notes, and those are the elusive denominations. The $50, $70 and $90 denominations were added later, and these are the ones that are most often seen. Of the first issue, the $40 was the shortest printing, with only 2000 notes produced. This is #1070 of the 2000. The note is bright and pleasing, with some margin all the way around, although the borders are quite tight to the frame line. The back design is sharply printed and very well centered; the engraving is one of the most elaborate on Colonial Currency. It was executed by Thomas Coram of Charleston. Coram signed the backs of the three later-issue denominations, with the $40, $60, $80 and $100 notes' being unsigned, although they are Coram's work. The note gives the appearance of an uncirculated piece, but very close inspection reveals a single light center fold and two tip folds. An impressive note that belongs in a top-quality collection. The PCGS grade of 45 seems conservative to us and the repairs mentioned are extremely minor.
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