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    Vermont February 1781 1s PMG Very Good 8 Net. 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. This note is one of those. The two pieces have been mated together just about perfectly on the face. PMG has properly noted this with the comment "Two Different Notes Top And Bottom Glued Together, Repairs". In last year's Memphis sale, another note of the same denomination and same reconstruction also in a PMG Net 8 holder realized $5400. Unpriced in Newman above Very Good, 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 added-to further 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 burned when received as taxes.

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    Auction Dates
    June, 2010
    17th-21st Thursday-Monday
    Bids + Registered Phone Bidders: 1
    Lot Tracking Activity: N/A
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