Virginia Currency
May 6, 1776
An emission of £100,000 ($333,333) in legal tender treasury bills redeemable by January 1, 1784. This was the final Virginia emission with notes denominated in shillings and pounds; it was also the first emission to have some notes denominated in Spanish dollars (the $ 1/6, $ 1/3, $4 and $5). The cast used on the July 17, 1775 emission had the denominations modified and were reused, while new border designs and a new state arms were created for the dollar denominated issues This issue has a blank reverse and was printed on heavy rag paper containing blue fibers and mica flakes. There was one signer on denominations of 2s6d and below and two signers on higher denominations. The denominations issued were: $ 1/6 (1s), 1s3d, $ 1/3 (2s), 2s6d, 5s, 7s6d, 10s, 12s6d, 20s, $4 (24s), $5 (30s), £2, £3 and £4.
obv
$4 Serial Number: faded (-495?) VA 05/06/76
Signers: Richard Morris, George Seaton.
Size: 64 x 94.5mm (front border design: 63 x 92mm).
Comments: Numbered and signed in brown ink. The serial number is quite faded, it appears to end with 495. According to Newman a total of 24,561 four dollar bills were issued in this emission. The four and five dollar notes of this issue were the first Virginia currency to be denominated in Spanish dollars. Although not mentioned on the note the four dollar bill was equivalent to 24s. This was also the first emission to include the newly redesigned state arms, which appears on left showing Liberty as a soldier triumphant over her foe. A crude counterfeit of this four dollar denomination exists. In the counterfeit the seventh line of text ends with "pursuant" while the eighth line starts with "to," additionally the period is missing after the date. The example shown here is a regular legal issue. This example was split and has been repaired on the blank back. To view the blank back click here.
Provenance: Purchased through the Robert H. Gore, Jr. Numismatic Endowment from the EAHA mail bid auction of 08/22/98, lot 471, where it was graded fine.
