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Scarce 1776 Virginia Pistareen Note

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Scarce 1776 Virginia Pistareen Note

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Details

Virginia. May 6, 1776. Fifteen Pence or Pistareen. Signed by John Dixon. Very Fine. No. 8081. A very pleasant example of one of the few "coin notes" in the colonial series, an issue that was printed to correspond exactly to a particular common circulating coin whose denomination was explicitly mentioned in the note's design. The pistareen was called "a coin perfectly familiar to us all" by the man who became Governor of Virginia shortly after this note was printed, Thomas Jefferson. The term pistareen referred to the Spanish mainland two reales which, rather than being valued at four to a dollar like those struck in the Americas, were lower fineness and thus worth one-fifth of a dollar. They were extremely common in early America, both intact and cut into halves (10 cents) and quarters (5 cents), but were especially plentiful in Virginia. Thus, it made sense to have a 15 pence or "a pistareen" denomination in the 1775 and 1776 series of Virginia currency. The issues of 1776 are a bit scarcer on the whole. This one shows nice dark printing and good details. The signature is strong. The bottom border is a bit trimmed in, particularly at the lower left corner, but this is typical of the issue. The note has seen some circulation, leaving it with a somewhat limp vertical centerfold and a short split at the base of that fold, but the paper retains good body. This is actually a fairly high grade for this note, and most would barely make Very Good; clearly this was a popular circulating denomination during the specie shortage that accompanied the American Revolution. It remains very popular with collectors today.

Additional Information

Grading Service RAW
Grade N/A
Designation N/A
Mint Location No
Strike Type No
Circulated/Uncirc No
Grade Add On No
SKU or Cert # 8006

Listed below are blog articles related to this product listing, if applicable:

Description

Details

Virginia. May 6, 1776. Fifteen Pence or Pistareen. Signed by John Dixon. Very Fine. No. 8081. A very pleasant example of one of the few "coin notes" in the colonial series, an issue that was printed to correspond exactly to a particular common circulating coin whose denomination was explicitly mentioned in the note's design. The pistareen was called "a coin perfectly familiar to us all" by the man who became Governor of Virginia shortly after this note was printed, Thomas Jefferson. The term pistareen referred to the Spanish mainland two reales which, rather than being valued at four to a dollar like those struck in the Americas, were lower fineness and thus worth one-fifth of a dollar. They were extremely common in early America, both intact and cut into halves (10 cents) and quarters (5 cents), but were especially plentiful in Virginia. Thus, it made sense to have a 15 pence or "a pistareen" denomination in the 1775 and 1776 series of Virginia currency. The issues of 1776 are a bit scarcer on the whole. This one shows nice dark printing and good details. The signature is strong. The bottom border is a bit trimmed in, particularly at the lower left corner, but this is typical of the issue. The note has seen some circulation, leaving it with a somewhat limp vertical centerfold and a short split at the base of that fold, but the paper retains good body. This is actually a fairly high grade for this note, and most would barely make Very Good; clearly this was a popular circulating denomination during the specie shortage that accompanied the American Revolution. It remains very popular with collectors today.

Additional

Additional Information

Grading Service RAW
Grade N/A
Designation N/A
Mint Location No
Strike Type No
Circulated/Uncirc No
Grade Add On No
SKU or Cert # 8006

Related Blog Article(s)

Listed below are blog articles related to this product listing, if applicable:

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