New Jersey. June 22, 1756. Six Pounds Note with Red and Black Printed Face and Full Green Printed Reverse, Only 625 Printed to be redeemed by December 1761, PCGS graded Fine-12.Fr. NJ-100. This Colonial “Green Back” currency note is listed in Friedberg as “Very Rare” and is the only denomination listed with All Dashes for value in the 5th Edition of Newman. In fact, this current note appears close in quality to the Newman Plate note illustrated on page 253. Indeed, this Rare June 22, 1756 New Jersey currency issue and Six Pounds denomination is indeed extremely rare, having only 625 authorized printed. These notes were meant to be legal tender in circulation only until June of 1761, thereafter made “invalid” by the end of December 1761. Most every valuable Six Pound note issued should have logically been redeemed back into the Treasury by December of 1761 and destroyed. It is truly remarkable that any of these red, black printed face and green reverse printed notes on this highest denomination would exist to this day.
This note is Fully Signed by: Hartshorne, Smyth, and Hollinshead. The reverse is fully printed in green. The green inks color being somewhat oxidized over time and has a typical mushy appearance. The central design Sage Leaf nature print is plainly seen. Its PCGS holder states edge splits, minor stains, which is as shown. Both the face and reverse sides are well centered with all designs seen. Overall, an attractive undervalued example of this “Green Back” note New Jersey currency rarity, perhaps somewhat conservative in its grade.
Like the more modern 1860s United States Greenback which became a slang term for U.S. paper dollars. The first post New Jersey Colonial issue Greenbacks were printed to finance the civil war and were called as such because their backs were printed in green. Because they were not fully backed by gold, greenbacks lost value and caused inflation in the northern economy. The same inflation experienced in the Colonial era and with virtually all paper money issues.