Highest PMG Graded Vermont 1 Shilling NoteVermont 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 Revolutionary 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. Only five examples have been graded by PMG to date, with this note the highest graded by eight points. We sold this note at our April 2010 Central States auction. At that time it realized $9200. It should do better today.
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