A Spectacular Vermont 2s/6d NoteVermont February 1781 2s/6d PCGS Apparent Very Fine 30.
This is one of the nicest of any Vermont note that HCAA has offered. The piece is solid, beautifully printed and problem free save for minor restorations. PCGS has assigned the apparent grade and simply commented, "Restorations." The horizontal center fold has been split and is now sealed. The lower right corner tip has been restored and that is all we can see. The restorations are done with consummate skill, making them invisible under all but the closest of expert scrutiny. The note has excellent margins all around. The back design is very well centered on all four sides, with lots of margin all the way around. All Vermont notes are very rare, and most known examples are in extremely low grade. The majority of the known notes have been pieced together from several different notes, often of different denominations. This note is entirely this note, with no pieces of others tagging along. Both signatures are bold, clear, and unrestored as is every letter of the text on both sides. Even a considerable amount of original embossing remains, and were it not for the minor restorations, this piece would likely have earned the PPQ designation. Vermonts are unpriced in Newman above the Very Fine grade, which for this denomination is $25,000. They are 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 increased by the fact that these notes 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. The note is sharply printed, and it has tremendous eye appeal. A spectacular piece, fit for the very finest collection.
Estimate: $17,500 - up.
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