DescriptionVermont February 1781 5s PMG Fair 2 Net.
We have never handled this Vermont denomination over the course of the last decade here at Heritage. PMG has net graded this beauty due to Taped Repairs and Missing Pieces. The missing pieces refers to the fact that about 40% of the note is present. 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. Priced in Newman at $10,000 in 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 burnt when received as taxes. The least valuable of all the Vermont notes we have sold was for $5,550 so we figure the present example should realize...........
Estimate: $2,000 - up.
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