The May 20, 1777 issue was the first series of Continental currency to use new boarder cuts reading “UNITED STATES” where previous issues read “UNITED COLONIES”. Due to extensive British counterfeiting, this entire issue was recalled by 1779. The extensive counterfeiting and recall of these bills resulted in the May 20, 1777 being one of the most scarce and sought after Continental issues today. This hole cancelled example is a well done likely British counterfeit with the intent to inflate and crash the young economy of the colonies. Incredibly scarce counterfeit with only 2 graded by PMG and only this 1 graded by PCGS.
Signers: Unknown Forgery
The May 20, 1777 issue was the first series of Continental currency to use new boarder cuts reading “UNITED STATES” where previous issues read “UNITED COLONIES”. Due to extensive British counterfeiting, this entire issue was recalled by 1779. The extensive counterfeiting and recall of these bills resulted in the May 20, 1777 being one of the most scarce and sought after Continental issues today. This hole cancelled example is a well done likely British counterfeit with the intent to inflate and crash the young economy of the colonies. Incredibly scarce counterfeit with only 2 graded by PMG and only this 1 graded by PCGS.
Signers: Unknown Forgery
