Rhode Island Currency
May 3, 1775 Rhode Island One Shilling Note PCGS Fine-12
Colony of Rhode Island. May 3, 1775. One Shilling. PCGS graded Fine-12.
Fr. RI-177. A very early Revolutionary War issued note date just a couple of weeks after the April 19th, 1775 "Shot heard round the world" fired at the Battle of Lexington and Concord in neighboring Massachusetts. Rare and seldom seen regardless of quality. This uniface printed note is whole and complete with a well printed and evenly worn in appearance. Its PCGS holder states splits, tears, minor damage, repaired, and backed. There is some old tape covered with archival silking on its blank reverse to secure splitting central folds, the signatures faded. This issue carried a 2.5% Interest per year and all notes were due to be returned to the Treasury in two years by 1777 to be redeemed, exchanged and destroyed, thus they are very rare. PMG population report has this One Shilling denomination as extremely rare. The 5th Edition of the Newman reference lists a overly generous value in of $1,500 in Fine.