Lot 34
Rhode Island. May 1786. Sheet of four notes: 6d, 9d, 1s and 2s6d Colonial currency. Sheet of four notes. Three years after these notes of 1786 were placed into circulation they had depreciated down to 10% of their original value. Over 96% of the issue was burned by the State of Rhode Island between 1793 and 1803. "Death to Counterfeit" was required to be placed on all bills, but was omitted on the four lowest denominations (the four present on this and the other sheets). The humor of the situation is that the State itself was the main counterfeiter by issuing fiat, unbacked paper which became utterly worthless once prices had risen into the stratosphere under the pressures of the post-Revolutionary disruptions! Uncirculated 63.
Estimated Value $600 - 800.
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| Realized $633 |
