Hey guys, I just purchased my first Continental Currency note. It's from the January 14th, 1779 issue. It's graded EF 40PPQ by PCGS. On the face, it has a stepped pyramid of 13 levels representing the strength and unity of the 13 states with the motto "PERENNIS" which means "Everlasting". On the back, there is a design of parsley leaves. The signatures aren't mentioned on the holder and weren't mentioned in the sale, but from the best I have been able to find, they seem to be that of D(aniel) Wister and R(obert) Cather. I would be happy if anyone could verify this or provide other possible names. I hope you like it! Take care, -tcore-
That's a great looking note! I like the note that states "Fifty Spanifh milled dollars". It shows the old English and Spanish influences that was so common at the time.
That is gorgeous!!! Great pickup. I have a $5 note from 1776 note myself. I love the color on yours though!!! Can I ask you how much that sold for? (just curious) I think these old notes are undervalued in the marketplace. The leaf motif on the back was an anticounterfeiting measure inventing by Ben Franklin. It's funny but after these notes were produced they rapidly lost their legal tender value (since the continental congress didnt have money to actually back the currency with gold/silver as promised). In a few years after issue it took about $500 in currency to obtain $1 in silver coin ... Much later (sometime in the 1780s) congress passed a resolution that they would pay $1 in silver coin for every $100 in currency notes brought to them. Ahh the joys of fiat currency! Did the US learn it's lesson ... unfortunatly no.
I have a nice colonial note, but it is NOWHERE as nice as this one. Great find and congrats on the pickup!
Very nice tcore! I just started reading The Early Paper Money of America, Fifth Edition by Eric P. Newman (Krause publications) and it is fantastic! If you don't have this book you should! I am looking through this to compare signatures.
There are a couple of other 1/14/1779 Wister/Cather signature combination examples on this page for comparison. More Wister examples here. Main page: Continental Currency
Stunning! Absolutely stunning! The history is precious. Keep talking and tell us more. Little or generally unknown facts like Benny F. having devised the anti-counterfeiting measures are wonderful to learn. Keep the history lessons coming. Thanks for sharing. Good on you!!!
Great Note! Congrats! Someday I'll get one - but I'm afraid that once I get one, I'll be addicted. There's so many and I like them all!
"Not worth a continental" comes to mind too. ...in fact, they may be worth more now than ever before! :smile
I was curious about this too ... I wasnt sure how to find that out ... However I did find this chart tracking the price of gold since 1800 (might this be a proxy for inflation? not sure about that) http://www.wisegeek.com/what-is-the-historical-price-of-gold.htm It's interesting that it lists the price of gold back in 1800 as $19 an ounce ... and it only rose to $21 an ounce by 1930 ... i guess this shows that as long as the dollar was backed by gold ... as it was until 1929 ... the dollar held its value pretty well The price of gold rose slowly until 1970, when gold rose to $38 an ounce (I think the last 40% silver coins were produced in 1969 ... coincidence?) ... Since 1970 with no backing of the us dollar by either gold or silver, you can see the devaluation of the dollar pretty clearly as it now takes $1,240 to buy an ounce of gold
Whoo, I actually knew this! There was an episode of Pawn Stars a while back where a gentleman brought in a Continental with Ben Franklin's signature on it. Rick mentioned the leaf motif- very creative!
Thanks for your comments everyone! Krispy, I do have that book. To my knowledge, it's the best book there is on Continental Currency. I purchased the book before the note! I wanted to have a bit of knowledge and background before blindly bidding on things. I highly recommend the book for anyone interested in this era of currency. Also, check ebay for some good deals on the book. So Krispy, is your conclusion that my note does possess the signatures of Wister and Cather? Just looking for a second opinion. Thanks again, -tcore-
Yes, based on examples I can find for comparison. [Please note I am still learning about this era of paper money.]
