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 Replies: 8 / Views: 1,282 |
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Pillar of the Community
United States
3843 Posts |
These notes are going to be auctioned off at a local auction house and I wanted to get the board's opinion on them. They look legit to me at least but appear to be in really rough condition. What should I expect to pay? Thanks, Joe2007    Edited by Joe2007
03/17/2013 4:17 pm
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Valued Member
United States
212 Posts |
Sorry, these are out of my realm to offer any assistance.
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Moderator
 United States
56855 Posts |
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Valued Member
United States
239 Posts |
Looking at some auction archives(Heritage and ebay) I would see these selling around $75 each. |
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Valued Member
United States
137 Posts |
They are certainly authentic. However, when stuff like that comes up for auction locally, the less informed people usually over pay thinking they have found an under appreciated bargain.
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Valued Member
United States
79 Posts |
If you can win them in the $70-80 range per note snap em up
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Pillar of the Community
United States
3253 Posts |
Certainly look genuine, and subjectively I think they're in nice shape. I agree with looking at auction archives for current expected hammer price. I could look in Newman's Early Paper Money of the United States for you, if you'd like, but I've always wondered if the values given there were rather arbitrary, and/or out of date. I will check if any of these are particularly rare issues, though, or if anyone important has signed them.
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Pillar of the Community
United States
3253 Posts |
Well, no signers of the Declaration of Independence signed these notes. Newman values the Pennsylvania Apr 3 1772 a bit higher than the Oct 1 1773, and that a little higher than the May 1786 Rhode Island 3 shilling. That Rhode Island issue holds a bit of a place in US history, though. The State Assembly declared the May 1786 issue to be legal tender, and specified that anyone not recognizing these bills as such would be subject to trial "without any jury." The Rhode Island Supreme Court reviewed this legislation in the case of Trevett vs Weedon, and established, for perhaps the first time in the new United States, that those charged with a crime had a right to trial by jury. They did this by declaring that the law violated the state constitution. Later, in the United States Supreme Court under John Marshall, the famous case of Marbury vs Madison established that the Supreme Court could declare laws "unconstitutional," and cited this Rhode Island case as precedent. Many rulings, including the desegregation of all American schools that resulted from the Supreme Court case of Brown vs Board of Education, were ultimately possible because of this little piece of Rhode Island currency.
Edited by philadelphian
03/18/2013 9:36 pm
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Pillar of the Community
 United States
3843 Posts |
Thanks for the info! Searched ebay and it looks like $70 to $80 is right on the money. I'm already see the signs that they are going to sell for way over that since it appears that they already have several absentee bids with the opening bid starting at $50 on each note. There was also a couple of better colonial notes in a frame but I emailed the auctioneer to ask about how they were mounted and he said they were glued to the matting unfortunately. Still going to attend the sale this weekend but not expecting to come away with anything. Edited by Joe2007
03/19/2013 03:20 am
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Replies: 8 / Views: 1,282 |
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Posted 03/18/2013 05:10 am
