High Grade United States Continental Loan Federal Indent

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Continental Currency

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United States Congress Federal Indent $4 September 27, 1785
Grade: PMG VF 25    

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We are blessed this evening to have not only one, but two, of these Federal Indents. These indents were issued during the Articles of Confederation period from 1782 to 1787, as a means for the new Congress to try to redeem its paper money after the war. Virtually all of the examples we have seen bear this 1785 date. Signed by John Hardy and therefore commonly referred to as "Hardy notes." Just about the only ones we have seen in the past decade were parts of great collections, such as Newman and Midnight Ride. PMG notes some pinholes and stains, both of which are relatively minor issues when one considers that a few of the Newman notes had major restorations and still sold from $2000-$4000 each. A great note for the colonial currency or fiscal specialist.

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