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    Newport, (RI)- W. C. Cozzens & Co. 5¢ May 15, 1837 Remainder Durand 553 PMG Choice Uncirculated 63 EPQ.
    Cozzens was a dry goods merchant and local prominent citizen involved in both civic and commercial affairs. Seeing a need to provide a means of making change during the Panic of 1837 when coins disappeared from circulation, he had fractional notes printed and intended to issue them but ran afoul of an 1805 law that forbade the issuance of notes intended for circulation by private individuals. None of his notes were ever issued and all notes known today are unissued remainders. The note is a simple businesslike layout with no vignettes printed on paper with an orange overall background. Always popular due to the odd denominations from this series

    Auction Info

    Auction Dates
    January, 2021
    24th Sunday
    Internet/Mail Bids: 4
    Lot Tracking Activity: N/A
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