RZM Fine Arts and Antiques Inc Presents: Ask the Appraiser

Hello Jon. I’m in the house clean-out business and from time to time I find things which were left to be discarded but could have some value. Case in point, the item pictured. I was going through some very old books that had been left for me to dispose of. When I have the time, I try to check through each page of the books, as I have found cash in the past. This item was found carefully placed between two pieces of fabric. I’m wondering if it is real and if so, what it may be worth. I really enjoy reading this column each week and look forward to your answer.

Billy in Mahwah

Because of your diligence you have found a rare standard circulation New Jersey Colonial Note dated March 25, 1776, in the amount of eighteen Pence, serial number 8484. Printed by Issac Collins, Burlington, New Jersey. The obverse features the New Jersey Coat of Arms in the left corner. The note reads; “ This Bill of ONE SHILLING and SIX-PENCE Proclamation, is emitted by a Law of the Colony of New-Jersey, passed in the Fourteenth Year of the Reign of His Majesty King George the Third. Dated March 25, 1776. Eighteen Pence”. The reverse of this particular note is decorated with a plant leaf. This process of illustrating banknotes from a real leaf was actually developed by Benjamin Franklin to discourage counterfeiting. Note the presence of shiny pieces of mica flakes, in various sizes, incorporated in the paper, again in order to limit counterfeiting. Also take notice of under the logo Eighteen Pence; “To counterfeit is Death.” Just as now, counterfeiting money was a problem in the 18th century. Unlike now however, in colonial times counterfeiters were put to death. The three hand signed signatures on your note are those of: Johnathan Deare, Robert and Joseph Smith. Exceptionally bold ink signatures remain. This note has rich color and wonderful sharp details throughout. No evidence of being handled. It has survived in outstanding condition for a note that is almost 250 years old. Just the type of condition an advanced currency collector would want to find them in. You should give serious consideration to having this note graded and slabbed by a third-party grading service. Contact me and I can recommend the company that I use frequently. Now for the moment we’ve all been waiting for. What’s it worth? The value of this New Jersey Colonial Note, in the “Choice Extremely Fine” condition it is likely to be graded at, will be $800 USD. If you are fortunate enough to have this note grade higher, then the value will substantially increase. Thank you for sharing this great piece of New Jersey history with us. Keep looking through the pages of those old books you find. Keep us posted on what else you happen to find!