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29 October 2016, 09:00 PST
Rancho Santa Fe, CA, USALive Auction
Lot 150: Colonial Currency, GA, 1777, $2, Sailing Ship, Red in. PMG Choice Very Fine-35(23 views)
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Estimate: $1,800 - $2,200
June 8, 1777 Georgia $2 "Sailing Ship" Seal Red "in" Type PMG graded Choice Very Fine-35
Georgia. June 8, 1777. Two Dollars. "Sailing Ship" Seal. Red "in" Type. PMG graded Choice Very Fine-35.
Fr. GA-104a. This well printed Revolutionary War note is printed in black and red, with a rich red "Sailing Ship" vignette at the lower right. All five signatures are boldly written and extremely clear in deep brown ink. A tiny corner tip repair at the upper left is noted on the holder. A similar, uncertified EF Two Dollars denomination of the Red "in" type was sold in Stack's John J. Ford, Jr. Collection, Sale X, brought $5,060.00 in nearly the same grade. This current note is nicely centered and has the overall choice eye appeal.
The production method in 1777 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.