| Description |
State of Massachusetts Bay - (Act of January 13, 1780) 6% Treasury Loan Certificate Payable "in then Current Money" or "in greater or less sum" than various Commodities 296 Pounds 10 Shillings 10 Pence January 1, 1780 Anderson-Smythe MA-20. PCGS Choice About New 55. This is from a fascinating American Revolutionary loan series commonly referred to as "Commodity Bonds." The devaluation of the paper money nearing the end of the Revolution was significant. Bond buyers and holders wished further guarantees to continue investing in the State and the Revolutionary cause. By fixing and guaranteeing the prices of several commodities, such as corn, beef, "sheepswool," and sole leather, the bonds were attractive to purchase. They were also necessary help fulfill the State quota for soldiers needed in the "Continental Army," referred to at the end of the certificate. The size and layout are a departure from earlier loans engraved by Hurd. Printed on laid paper from an engraved plate by J. M. Furnass, with his imprint at the lower right inside edge. 27.0 cm by 13.0 cm. A straight, fancy script title is across, with the serial number to the left and the engraved date underneath at the right. Intricate border cuts were widest at the left for the indenting at issue. Complex text and obligations are across with blanks, enactments applicable to the authorization, and equivalent amounts of various commodities. An embossed stamp is on the text. No. 1193. Issued and signed by Dawes, Cranch, and Henry Gardner (pen cancelled). A stunning example, one of finest we have seen. Untrimmed and full size. With exceptionally deep printing clarity, original embossing, and edge plate lines. Phenomenal, and worthy of a strong realization. Ex: Eric P. Newman Numismatic Education Society, Heritage Auctions Internet Sale (5/2017).
(Description courtesy of Heritage Auctions, ha.com.) Realized $1762.50. |
