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    Description

    Newport, (RI)- W. C. Cozzens & Co. 7¢ May 15, 1837 Remainder Durand 554 PMG Gem Uncirculated 65 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.


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    Auction Dates
    March, 2021
    16th Tuesday
    Internet/Mail Bids: 7
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