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Colonial Currency, RI, Dec. 19, 1751 Land Bond

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Rhode Island Currency

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1751 Bond Payable in Rhode Island Colonial Notes of 1750

December 19, 1751, Rhode Island Land Bond, Payable in Colonial Notes of the March 18, 1750 Issue, With Stated Exchange Rates in Gold or Silver by the Ounce, Choice Extremely Fine.
In this partially printed, 6.5" x 8" document, Abraham Clark has borrowed 63 shillings in Rhode Island notes of the March 18, 1750 issue. The bond was to be repaid to Thomas Richardson, Rhode Island Colonial Treasurer, or his successor. Printed in the document is the conversion rate for the notes to gold or silver, but the rates are for weights of gold or silver, "....equivalent to Silver at Six Shillings and Nine Pence per Ounce, or Gold Coin at the Rate of Five Pounds One Shilling and Six Pence per Ounce ..." This odd exchange rate was necessary because the notes of the March 18, 1750 issue are denominated not in money, but in weights of silver, from 15 grains to 5 ounces. In addition to Clark's signature, this bond also has signatures of two officials connected with its issue, Joseph Randall Junior and Job Joy. This document is in excellent condition, without holes or tears, aside from a .75" piece missing from the edge near Clark's signature. A rare and historic Colonial Currency related document.



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