Issue of May 1, 1786

The Greysheet Catalog (GSID) of the Issue of May 1, 1786 series of South Carolina Colonial Currency in the U.S. Currency contains 4 distinct entries with CPG® values between $3,750.00 and $6,250.00.

£100,000 in Loan Office Bills of Credit authorized by the Acts of Oct. 12, 1785 and Mar. 22, 1786 and receivable for taxes until May 1, 1791 on a par with specie. Secured by land mortgages or specie. The use for taxes was extended by the Act of Feb. 19, 1791. Engraved by Abernethie of Charleston. Denominations of 2s6d and 5s were originally authorized but subsequently revoked before issuance. Signers were John Huger, T. Jones, and John Postell. Prior attempts by the Acts of May 29, 1736 and June 17, 1746 to establish a General Loan Office currency had been disapproved by England.