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

16272

Vermont February 1781 20s Very Fine-Extremely

Currency:USD Category:Coins & Paper Money Start Price:1.00 USD Estimated At:1.00 - 1,000,000.00 USD
Vermont February 1781 20s Very Fine-Extremely
Vermont February 1781 20s Very Fine-Extremely Fine. This is the seventh Vermont note we've handled in our 36 sales, and only the first Twenty Shilling. Our previous offerings have been four 2s6d notes, a 1s and a 40s. All Vermont notes are very rare, and most known examples are in extremely low grade. The majority of the known pieces have been pieced together from several different notes, often of different denominations. Vermonts are unpriced in Newman above the Very Good grade. They are printed on thin, weak paper that quickly disintegrated in circulation. Their scarcity is due to the fact that only a single issue was emitted, and that issue, authorized in February of 1781, had its legal-tender status revoked after a little more than a year in circulation. The scarcity was increased by the fact that these notes retained their validity for tax payments, but the Treasury was denied the right to re-issue the bills, and they were burnt when received as taxes. This note has seen very little actual circulation, although it does have some edge damage. It's well margined all the way around, except for the lower inch of the right face margin. The bottom half inch of the note appears to have been split and sewn at one point, but the thread is now gone, and the note has been re-joined. All the printing as well as the signature is bold, and the note, unlike virtually all of its contemporaries, has had no paper added. A much rarer denomination and an extremely respectable example. <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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