The Common Council of the Corporation of the City of New York issued these small denomination notes to satisfy the need for “small change” in the city. After numerous quantities of London counterfeits emerged, a call for redemption of these notes occurred by June 1, 1799, redeemed notes were burned. The mass redemption and destruction of these small change notes make survivors exceedingly rare today. Scarce bill with only 16 known to survive today.
The Common Council of the Corporation of the City of New York issued these small denomination notes to satisfy the need for “small change” in the city. After numerous quantities of London counterfeits emerged, a call for redemption of these notes occurred by June 1, 1799, redeemed notes were burned. The mass redemption and destruction of these small change notes make survivors exceedingly rare today. Scarce bill with only 16 known to survive today.
