Early Paper Money of America / New York / 1737 December 10

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Last Updated: 2022-05-19

Early Paper Money of America (NNP Edition)|£48,350 in legal tender Bills of Credit approved on Dec. 16, 1737 and originally good for 12 years. Mortgage loans were to be made with 40,000 of the issue at 5% interest. The redemption date was extended to April 3, 1768. Border cuts on the top and left sides of the Bills were engraved by Charles Le Roux. The cut of the Arms of the City of New York was reused from the prior issue. Pound weights as symbols were keyed to the higher denominations to deter alteration. The denomination was removed from within the Arms to a position below them. The abbreviation of number was changed from NU. to No. On the £5 denomination there is a crude line through only the text in each of the two border designs. On the £10 there is a crude line through the full length of each border design. These were apparently counterfeit or alteration deterrents. Other denominations have no such lines defacing their border designs. Printed by John Peter Zenger with blank backs. Zenger, as a newspaper editor, was jailed for libeling the New York colonial government and became the first defendant in America to be acquitted on the Freedom of the Press doctrine that truth is a defense against libel. He was not granted any further currency printing. Signers were James Alexander, G. Beekman, A. DePeyster, B. Hinchman, Peter Jay, Simon Johnson, P. Lefferts, James Roosevelt, S. Rowe, Peter Schuyler, James Stringham, Cornelius Van de Veer, and Stephen Wood.

5s [10,000] ▷CF◁
10s [7,700]
20s [5,000] ▷CF◁
£2 [4,000] ▷CF◁
£3 [3,000] ▷CF◁ Fine $2,760 Stack’s May, 2004
£5 [2,000] Fine $2,990 Stack’s May, 2004
£10 [1,000] ▷CF◁ Very Fine $4,887 Stack’s May, 2004

Detalhes da coleção

Total de Itens: 7
Tamanho: unknown

Trabalho (7)

1. 2 pounds

Descrição:

Colony of New York December 10, 1737 2 Pounds Contemporary Counterfeit Fr. NY-99. PCGS Very Fine 35. This is an early New York contemporary counterfeit of a note from a historic issue. The genuine bills were printed by John Peter Zenger, who helped shape the concept of Freedom of the Press in the Colonies. Commencing with this issue, the notes were in a smaller format with New York arms and border cuts. Printed uniface on laid paper. The plate details and printing quality are crude compared to three genuine notes sold from the Boyd collection and the three genuine notes from the Newman Collection. The inking is uneven, particularly in the left border cut and across part of the date. However, as a counterfeit this is exceedingly rare and is the only example known to us. Any genuine or contemporary counterfeit from this Zenger-printed series is important. A high-grade and historic Colonial note. Ex: Eric P. Newman Numismatic Education Society

From Newman VIII (Heritage Auctions, 11/2017), lot 28087, realized $2640. Image and description courtesy of Heritage Auctions, https://ha.com.

2. 5 pounds

Descrição:: Colony of New York December 10, 1737 5 Pounds Fr. NY-101. PCGS Fine 12 Apparent. This example is from the extremely rare and early 1737 John Peter Zenger printed series notes. Very few exist in any condition, and only some of the major collections were fortunate enough to have held them. It is trimmed all around and shows some central stains. PCGS notes "Splits, Tears, and Minor Damage; Tape Repairs on Back; Minor Stains." These detractions are not severe enough to interfere with the note's importance and collectibility. Historic and desirable. Ex: Eric P. Newman Numismatic Education Society Realized $1292.50. Newman VII (Heritage Auctions, 10/2015), lot 18913. Description courtesy of Heritage Auctions.

3. 5 pounds

Descrição:: Colony of New York December 10, 1737 5 Pounds Fr. NY-101. PCGS Fine 12 Apparent. This example is from the extremely rare and early 1737 John Peter Zenger printed series notes. Very few exist in any condition, and only some of the major collections were fortunate enough to have held them. It is trimmed all around and shows some central stains. PCGS notes "Splits, Tears, and Minor Damage; Tape Repairs on Back; Minor Stains." These detractions are not severe enough to interfere with the note's importance and collectibility. Historic and desirable. Ex: Eric P. Newman Numismatic Education Society Realized $1292.50. Newman VII (Heritage Auctions, 10/2015), lot 18913. Description courtesy of Heritage Auctions.

4. 2 pounds

Descrição:

From Newman VIII (Heritage Auctions, 11/2017), lot 28087, realized $2640. Image and description courtesy of Heritage Auctions, https://ha.com.

5. 3 pounds

Descrição:: Colony of New York December 10, 1737 3 Pounds Fr. NY-100. PCGS Fine 15 Apparent. This is the first small format series from New York and a historic issue. Uniface and printed by John Peter Zenger, famous for his acquittal in a libel case. Zenger was an important figure who helped shape the concept of freedom of the press and speech in the Colonies. These notes were printed on thin laid paper with elaborate border cuts left and top (by Charles La Roux) and arms at the right. Until the few Boyd collection notes reemerged in 2004-2005 (two extremely worn) at the Ford sales, these were virtually unknown. The last Zenger-printed 1737 note was sold in Stack's 52 Collection Part I sale for $8,050 (5 Pounds, PMG Very Fine 20, Ex: Boyd-Ford III Sale, Lot 615) in June 2010. Although there are some flaws, the note is attractive. Noted as having "Splits, Tears and Minor Damage; Tape Repair on Back." A fascinating Colonial rarity. Ex: Eric P. Newman Numismatic Education Society Realized $1410.00. Newman VII (Heritage Auctions, 10/2015), lot 18138. Description courtesy of Heritage Auctions.

6. 3 pounds

Descrição:: Colony of New York December 10, 1737 3 Pounds Fr. NY-100. PCGS Fine 15 Apparent. This is the first small format series from New York and a historic issue. Uniface and printed by John Peter Zenger, famous for his acquittal in a libel case. Zenger was an important figure who helped shape the concept of freedom of the press and speech in the Colonies. These notes were printed on thin laid paper with elaborate border cuts left and top (by Charles La Roux) and arms at the right. Until the few Boyd collection notes reemerged in 2004-2005 (two extremely worn) at the Ford sales, these were virtually unknown. The last Zenger-printed 1737 note was sold in Stack's 52 Collection Part I sale for $8,050 (5 Pounds, PMG Very Fine 20, Ex: Boyd-Ford III Sale, Lot 615) in June 2010. Although there are some flaws, the note is attractive. Noted as having "Splits, Tears and Minor Damage; Tape Repair on Back." A fascinating Colonial rarity. Ex: Eric P. Newman Numismatic Education Society Realized $1410.00. Newman VII (Heritage Auctions, 10/2015), lot 18138. Description courtesy of Heritage Auctions.

7. 3 pounds

Descrição:: Plate image from Early Paper Money of America (5th edition).