LOT Heritage Rare Coin Galleries  /  2004 (CSNS) (CAA) Signature Sale #348 - Session 1  / 

16166

North Carolina November 27, 1729 L5 Very Fine

Currency:USD Category:Coins & Paper Money Start Price:1.00 USD Estimated At:1.00 - 1,000,000.00 USD
North Carolina November 27, 1729 L5 Very Fine
North Carolina November 27, 1729 L5 Very Fine Counterfeit. To our best knowledge, not a single genuine example of this issue survives. The issue was wholly hand written, which makes authenticating examples virtually impossible. We have seen four notes from this issue in 40+ years of specializing in Colonial currency, and this piece is by far the only piece about which we have entertained thoughts that it might indeed be genuine. In fact, the only argument in favor of this note being counterfeit is the fact that someone at its time of circulation considered it to be so and pen cancelled the body of the text with an "X". The word "counterfeit" was also written across the text and later effaced with some mild bleach-like substance which removed the majority of the condemnation but left it vaguely legible. All five signatures compare favorably with known genuine signatures and none are identical to the signatures on the known counterfeits that we have examined. Another factor arguing for the genuineness of this piece is the long period of time it spent in actual circulation. The note was covered on its blank back with contemporary endorsements, a fact that indicates its wide acceptance. After the back was virtually full, the note began to split along its center fold and, as was common at the time, it was backed with a blank sheet. It continued to circulate, and its new blank back was again covered with contemporary endorsements. The original endorsements can be seen by "candling" the note. The paper-covered wax seal loosened at some point and was pinned back in place after the new backing was attached. Contemporary endorsements avoid the pin, vetting its presence since the circulation period. We will concur with some long-unknown contemporary's assessment that the note is counterfeit, although we entertain a glimmer of hope that that assessment was incorrect. In any event, this is the single most convincing example of an extraordinarily rare issue and, even as a counterfeit, it is highly desirable to any North Carolina specialist or Colonial generalist seeking the rarest and finest numismatic relics of this era. <BR><BR><B>Important notice:</B> Heritage usually auctions material at the rate of 200-250 lots per hour. On some occasions eBay Live bid software or the Internet may not be able to keep up with the pace of the auction. We recommend placing a realistic absentee bid now as insurance to avoid disappointment. Occasionally the auctioneer may eliminate or reject an eBay Live bid, and the auctioneer may also reopen a lot after the close of the eBay live bidding (usually because we missed an audience bid), and may reject your bid even if it shows you as the winning bidder. By bidding via eBay Live, you agree that Heritage may award the lot to another bidder at its sole discretion under the circumstances described above or any other reasonable circumstances. Since eBay bids are not shown to us until we open the lot on the floor, we treat those bids just like floor bids. In most cases the floor responds before the eBay bid is presented to us, due to Internet lag time, so for consistency we have made it a policy that floor bids are always considered first over tie eBay live bids. Also please note that all Heritage lots purchased through eBay Live carry a 20% Buyer's Premium. Please make sure you read the Terms and Conditions before you bid. <BR><BR><B>IMPORTANT ANNOUNCEMENT ABOUT RESERVES:</B> Heritage now divulges all reserves on its web site 7 days before every auction. If you want to know whether the reserve on this lot has been met, and if not, what the reserve amount is, please visit this lot page on the HeritageCoin.com web site, or email: bid@HeritageGalleries.com
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