Lot 159: Colonial Currency, Mass. May 5, 1780 $3 Fully Signed and Issued. PCGS GEM New 65
October 29, 2016
Rancho Santa Fe, CA, USALive Auction
May 5, 1780 Massachusetts Fully Signed PCGS GEM-65
MA-280. State of Massachusetts. May 5, 1780. Three Dollars. Fully Signed and Issued. PCGS GEM New-65.
Fr. MA-280. This is a highly desirable and collectible note having been fully signed on both its face and back where it was "Guaranteed" by the United States, along with the 5% annual interest payment it provided. Adding to its rarity, there is no cancel nor the typical red stamp denoting any Interest Paid. This historically important issue was made to replace earlier notes at $40 old to $1 of this new money. Therefore, this "Guaranteed" $3 note required $120 of prior issue notes in exchange due to rampant inflation! Fully Signed and Issued.