February 3, 1690. The First Paper Money Issued By Any Government of the Western World – including all of Europe and America! This is one of the most compelling and momentous pieces of currency in the history of humankind. Faced with a pressing need to pay for the costs associated with King William’s war against Canada; on December 10; 1690 the General Court of the Massachusetts Bay Colony passed legislation authorizing the issuance of paper money for general circulation. Previously; all forms of currency had an intrinsic value of gold; silver; or copper. This note; on the other hand, represents the first form of money with no intrinsic value whatsoever. Instead; the value of the note was backed by the Massachusetts Bay Colony who guaranteed it and authorized its acceptance as an alternative to hard currency. The legislation also stated that these notes can be redeemed with the Treasury for the equivalent in hard currency “IF” available. A novel idea to help support the war effort; today as it stands there are only 7 examples known with 3 permanently impounded in museums. With only 3 other examples available to own; this is a rare and incredible opportunity to own a SIGNIFICANT PIECE OF WORLD HISTORY. Listed in Q. David Bower’s book as the 3rd note in the “100 Greatest American Currency Notes;” securing this note will elevate any numismatic collection to a "WORLD CLASS" level.
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