New York Currency
February 17, 1776 New York City & County of Albany Demand Note for "Five Eighths of a Spanish Milled Dollar, in CONTINENTAL CURRENCY" / Five Shillings
New York, City of Albany, February 17, 1776, Payable on Demand "in CONTINENTAL CURRENCY", Five Eighths of a Dollar (Five Shillings), PMG graded Very Fine-25.
NY-1845. A rare "1776" Revolutionary War date "Dual-denomination" demand note for Five Eighths of a Spanish Milled Dollar, also denominated as Five Shillings. Important as a note with printed text stating it is payable on Demand, "in CONTINENTAL CURRENCY". It is the highest denomination on this series. This bold appearing note has some conservation, its centerfold split sealed, the holder stating repaired, severed and reattached at center. All text is clear and easily readable with signatures present but faded. This note's blank reverse side is very clean. The laid period paper margins are full on the face side and very even, providing choice centering of its designs.
This rarity is aggressively valued in the current (2008) 5th Edition of Newman at the highest listed grade being "Fine" at $3,000. Like any note from this New York "Continental Currency" related series, examples are typically in advanced collections. This Five Eighths of a Spanish Milled Dollar denomination is among the finest we have offered. In our EAHA Auction of July 24, 2021 we offered Lot 83, a cleaner and brighter 5s note graded (raw) Very Fine, which sold for $2,040. Listed as "Rare" in the Friedberg Paper Money reference.
KEYWORDS:
Rare Currency, Colonial Currency, Historic Paper Money, Early Paper Money of America, New York Currency, Revolutionary War Paper Money, Colonial America, Printing Paper Money, New York Fiscal Paper Note, Continental Currency