Issue of October 16, 1786

The Greysheet Catalog (GSID) of the Issue of October 16, 1786 series of Georgia Colonial Currency in the U.S. Currency contains 6 distinct entries with CPG® values between $300.00 and $2,200.00.

£50,000 in legal tender Bills of Credit authorized by the Aug. 14, 1786 Act to be loaned on real estate mortgage security. A value of 4s8d to the dollar was specified. The original redemption date of Aug. 14, 1790 was extended to Jan. 15, 1794 by the Feb. 1, 1789 Act, but legal tender status was revoked after August 14, 1790 by the Dec. 23, 1789 Act. By the Feb. 22, 1785 Ordinance all Georgia paper money issued during the Revolution had been declared redeemable for taxes at $1000 for $1 in specie up to Aug. 22, 1785. This date had been extended by Act of Feb. 13, 1786 to Nov. 13, 1786 after which date such issues were unredeemable. Printed by John E. Smith of Augusta on Dutch paper watermarked HONIG & ZOONEN. The vignette was engraved by Abernethie (likely Thomas Abernethie, a Charleson copper-plate engraver and printer) and featured the 1777 Georgia Constitution and PRO BONO PUBLICO (For the public good). A counterfeit warning was added for the first time since the 1769 Lighthouse issue. Signers were J.H.P. Carnes, William Daniell, W. Freeman, George Jones, J. Jackson, T. McCall, T.H. Napier, and W. Steele. Two signatures on lower four denominations and three signatures on the others.