Lot 62 email save

Colonial Currency, NJ, November 20, 1757, £3

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New Jersey Currency

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Scarce New Jersey November 20, 1757 Three Pounds

New Jersey. November 20, 1757. Three Pounds. Red and Black Face. Plate B. Fine.
Fr. NJ-112. This note is printed in both red and black, the text is quite clear and there is even overall circulation. Only 3,500 total notes were issued for this denomination, of which only 1,750 would have been printed with Plate B. They were only legal tender until June of 1762 and became invalid after November of 1762. Thus, all of these notes should have been returned to the New Jersey Treasury and destroyed at that time. Another example of how truly rare and underrated these note are in the current marketplace.

The production method in 1757 for any note of two or more colors meant extra work for the printer. Each sheet had to be placed onto the printing press twice, one time to print the red text and a second pass to add the black. Each time a color was printed, the paper sheet had to be hung up to dry for a day and then laid back down, hopefully in the same exact place as proper alignment was critical, to add the second color. Obviously, this was a far more timely procedure that added extra work and cost. That is a major reason we see so few Colonial issues that are multicolor.

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