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    Highest PMG Graded Vermont 1 Shilling Note

    Vermont February 1781 1s PMG Very Fine 20. Vermont notes were printed on thin, weak paper that disintegrated rapidly, and fragments of notes are far more common than whole examples. The notes were issued to help fund the war and also increase the number of bills in circulation. The scarcity of the notes is due to the fact that only a single issue was emitted and only 3600 notes of each denomination were printed. Also, 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 notes retained their validity for tax payments, but the Treasury was denied the right to re-issue the bills, and they were burnt when received as taxes. Staining and pinholes are noticed on this example, but were not commented on by PMG. Given the rarity of these notes, those conditions are inconsequential. Only four examples have been graded by PMG to date, with this note the highest graded by ten points.

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    Auction Dates
    Apr-May, 2010
    28th-3rd Wednesday-Monday
    Bids + Registered Phone Bidders: 2
    Lot Tracking Activity: N/A
    Page Views: 433

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