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2024-12, Currency
New York £4 Bill, February 8, 1788
2024-12, Currency

New York £4 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 9/16" × 4 1/4"
Credit LineMuseum Purchase, The Friends of Colonial Williamsburg Collections Fund
Object number2024-12
DescriptionOBVERSE; Double border of decorative cuts printed in black and red and containing STATE OF NEW YORK, Four Pounds, and TO COUNTERFEIT IS DEATH. Central panel containing the Arms of the State of New York printed in red, above the denomination printed in black, the typeset text block printed in black, and two signatures. Above the Arms is Maverick Sculpt, and the serial number 5406 is penned in the dedicated box included in the bottom border cut.

The left red border is engraved with a column wrapped with a ribbon inscribed Four Dollars, and topped by a circle enclosing a sword crossed by a Liberty Cap and pole. An oval centered in the top red border contains a wheat sheaf under a scythe.

REVERSE; Border of numerous rows of decorative type surrounding a rectangular cut of a ship under sail, within an oval surrounded by foliage. Text within the border includes IV. Pounds - State of NEW=YORK, It is DEATH to counterfeit this BILL, FOUR POUNDS, and [IV. Pounds.] New York, Printed by H.GAINE [£ • 4] 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 Four Pound bill, a scene of a sailing ship 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 £4 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)