Virginia: May 1, 1780
Table of Contents
May 1, 1780
An emission of $1,666,666 (£500,000) in Treasury Bills redeemable in Spanish milled dollars with 5% interest on December 31, 1786. This issue was authorized pursuant to the Continental Congress Resolution of March 18, 1780. The front was printed in black with border cuts by Henry Dawkins. The back was printed in black and red with border cuts and emblems from the higher denomination notes of the Continental Currency issue of January 14, 1779. The cuts surrounding the emblem are by Dawkins. The emblems are upside down in relation to the front and sideways when viewed from standard orientation of the the back. Printed by Hall and Sellers in Philadelphia using paper watermarked "CONFEDERATION". The date of issue was added by hand on the front of the note in the blank space above the interest box and interest was calculated from the date of issue. According to Newman examples exist dated as late as October 9, 1781. There were two signatures on the front while on the back was the guaranty signature of Charles Fleming or Forest Webb. Denominations issued were: $1, $2, $3, $4, $5, $7, $8 and $20.
$1 Serial Number: 2005 dated: July 9, 1781 VA 05/01/80
Signers: J. M. Simmons and A. Craig; Guaranty signature: Forster Webb
Size: 82 x 92mm (front border design: 69mm x left border trimmed; back border design 70 x 86mm top trimmed slightly).
Comments: The numbering, dating and second signature are in redish-brown ink; the first signature in black ink. The left border design is partly trimmed off. The design should read 1 D followed by a scroll containing ONE DOLLAR. While the left border is partly trimmed off the bottom border is extra large and contains a small portion of the top border design from the adjacent two dollar note. The back bears the emblem from the $30 Continental Currency issue depict wreath on o tomb with the motto: SI RECTE FACIES . (If you act righteously). In relstion to the front of the note the emblem is upside down. To see the emblem correctly click here. The paper contains blue threads and mica flakes with a watermark which reads: "CONFEDE / RATION" on two lines, oriented so that it reads from the front.
Provenance: Purchased through the Robert H. Gore, Jr. Numismatic Endowment from the EAHA mail bid auction of 03/28/98, lot 383, graded Choice Crisp Uncirculated.