PCGS Very Fine 25 Apparent Vermont 10s NoteVermont February 1781 10s PCGS Apparent Very Fine 25.
PCGS has assigned the Apparent 25 grade and noted "Major Restorations; Pieces Added; Design Redrawn," all of which is accurate, but the note has the full visual appeal of an unrestored VF. All Vermont notes are very rare, and most known examples are extremely low grade, many having been pieced together from fragments of several different notes. In spite of its restorations, this is all the same original note. Vermont notes were printed on thin, weak paper that quickly disintegrated in circulation. Their scarcity is due to the fact that only a single issue was emitted, and that issue, authorized in February of 1781, had its legal tender status revoked after a little more than a year in circulation. The scarcity was further increased by the fact that these retained their validity for tax payments, but the Treasury was denied the right to reissue the bills, and they were burnt when received as taxes. This is only the third 10s Vermont that we have sold, by far the best of that trio. PCGS has graded three examples of this denomination, all in various Apparent grades.
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