1779 North Carolina $5 - Colonial Currency - PCGS AU55
- Grading Service: Professional Coin Grading Service Banknote - PCGS Banknote
- Grade: About Uncirculated 55 - AU55
- Certification: 43207206
- Country: United Colonies - Colony of North Carolina
- Period: United States - Pre Federal
- Type: Standard Banknote
- Years: 1779
- Issue: May 15th, 1779
- Mint: Hugh Walker - Wilmington, North Carolina
- Denomination: 5 Dollars
- Composition: Paper
- Signature: John Hunt & John Taylor
- Obverse: Signatures in Brown and red ink on the bottom right, motto "Good Governments always revere' bottom left. Left border has "Death to counterfeit". Denomination, State, and issuance also portrayed
- Reverse: Denomination and printer inside an ornate border
- Reference: FR# NC-183b
Colonial Currency is pre-Revolutionary War paper money that was created in response to a growing economy and desperate coin shortage. Beginning with Massachusetts in 1690 to 1781, individual colonies issued notes to pay for public works, trade deficits, and other items of necessity. These notes issued by the individual colonies were known as 'Bills of Credit'. These bills of credit were usually fiat money that could not be exchanged for a fixed amount of gold or silver coins upon demand. These were usually issued by colonial governments for the payment of debts. These governments would then retire the currency by accepting the bills for payment of taxes. When colonial governments issued too many bills of credit or failed to tax them out of circulation, inflation resulted.
*Currency condition is based on our professional opinion. Pictures are representative of the note that you will receive, actual note may differ slightly, and serial numbers may vary*
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