New York Currency
February 20, 1790 - City of New York
An emission of £9,660 in small change notes issued by Common Council of the City of New York with the printed signature of the city treasurer Daniel Phoenix. Printed by Hugh Gaine in New York City. Once worn out notes were redeemed by the city they were burned. On April 22, 1790, because of the discovery of counterfeits (made in London), the entire issue was called in for redemption by June 1, 1790. Several communities and institutions issued small change notes following the copper panic of 1789, when the price of copper was devalued and few people would accept copper coins at their usual rates. Denominations issued were: 1d, 2d and 3d.obv
3d NYC 02/20/90
Signer: Daniel Phoenix (typset) .
Size: not available
Comments: Typeset signature of the city treasurer on the front. Image of the back is not available. The typeset back includes the statement the bill was printed by H. Gaine, New York.
Courtesy of Early American Numismatic Auctions, Inc. Images used with permission from their on-line auction catalog for the auction of April 20, 1996, lot 519.
