Maryland Currency
June 28, 1780 Maryland Twenty Dollars "Guaranteed" 5% Annual Interest Note Fully Signed & Issued Choice Abt Unc.
State of Maryland, June 28, 1780, Twenty Dollars, "Guaranteed by the United States" Issue, Bearing 5% Annual Interest, Fully Signed & Issued, Choice About Uncirculated.
Fr. MD-122. This $20 note is the highest denomination on the issue. This 1780 issue Revolutionary War note has an interest payment schedule is printed at lower left on its face side. Printed in red and black with exceptional overall eye appeal of virtually CU but for one had to detect light vertical fold. It is fully "Guaranteed" by the United States with a 5% annual interest payment (some monetary experts believe that the simple interest per its face value is still outstanding, due and payable to this day!). The printing is sharp and bold on clean specially watermarked "UNITED / STATES" laid paper that is fresh and bright. Fully signed by "H. Dickerson" and "T. Walker" in bold brown, and properly signed on the reverse United States "Guaranteed" line. Ex: T. James Clarke Collection with his identifying typed insert present.
These notes were authorized by Acts passed by Continental Congress Resolutions of March 1780 "guaranteeing" their payment with its stated 5% interest. The amount of value issued was dependent on the amount of prior issued Continental Currency notes exchanged at an exchange rate of $40 (old notes) for $1 of this new issue!
KEYWORDS:
Political Currency, Colonial Currency, Historic Paper Money, Early Paper Money of America, Maryland Currency, Revolutionary War Paper Money, Colonial America, Printing Paper Money, Revolutionary War, George Washington, Continental Congress, Independence Hall, Fiat Currency, Currency Printing, Benjamin Franklin, Maryland Paper Money