Images(2)

New York £2 Bill, February 8, 1788

DateFebruary 8, 1788

Printer Hugh Gaine

Engraver Peter R. Maverick

OriginAmerica, New York, New York City

MediumPaper and ink

DimensionsOverall: 2 1/2" × 4 15/16"

Credit LineMuseum Purchase, The Friends of Colonial Williamsburg Collections Fund

Object number2024-10

DescriptionOBVERSE; Border of decorative cuts printed in black and containing STATE OF NEW YORK, the denomination TWO POUNDS twice, and MAVERICK,Sc. Central panel containing the Arms of the State of New York above the denomination printed in black, the typeset text block printed in red, and two signatures. Serial number 3695 penned in the dedicated box included in the bottom border cut.

REVERSE; Border of numerous rows of decorative type surrounding a rectangular cut of an eagle, standing to the left on a globe above a banner inscribed EXCELSIOR, all within an oval surrounded by foliage. Text within the border includes TWO POUNDS, State of NEW-YORK, It is DEATH to counterfeit this BILL, and New York, Printed by H. Gaine, all printed in black.
Label TextAfter the Revolution ended, the situation of money in the United States was largely unstable and complicated, and handled at the state or local level. The first issue of New York's paper money after the British evacuated the City came in April of 1786. Being printed on only one side, it was widely counterfeited and was to be redeemed or exchanged by New Year's Day, 1789. To replace this failed issue, another emission was authorized on February 8, 1788.

Far more complicated in design and execution, this new money was two-sided and printed in two colors. The eight denominations were struck from composite plates incorporating both type and extravagant ornamental cuts, featuring New York themed vignettes on the reverse. For the Two Pound bill, the State's crest of an eagle standing on a globe and the motto "Excelsior" was chosen.

These striking multicolored bills were current at the time New York City served as the Capital of the United States, and President George Washington was in residence. Of the £200,000 of bills authorized and to be redeemed by December 31, 1800, only a half dozen or so examples are known.

Colonial Williamsburg's £2 bill is believed to be a unique survival.
Provenance[Coin show, Albuquerque, NM]; 2024, purchased by [John Kraljevich Americana LLC, Fort Mill, SC]; 2024-present, purchased by The Colonial Williamsburg Foundation (Williamsburg, VA)