June 8, 1780 Act, State of Maryland Colonial Currency, Four Dollars, “Black Money” Issue, Choice About Uncirculated.
MD-112. This rare boldly printed crisp 1780 Maryland Revolutionary War note has the eye appeal of Choice Crisp Uncirculated but for a reverse side bottom edge light sheet fold as shown. There is virtually no evidence of circulation apparent on this clean crisp note. The June 8, 1780 Act authorized £30,000 in legal tender notes to be issued, which became known as "Black Money" because of the distinctive dark printed border cuts along its margins. This historic issue of notes financial backing was secured by a deposit held with the Bank of England and by money from the sale of Confiscated Tory Property seized by the State throughout the Revolutionary War. The signatures are written in bold deep rich brown ink penned by Isaac McHard and Joseph Cowman. The Friedberg reference simply states “Rare” for this number, while the 2008 5th edition of Newman lists a value of $3,750 in VF and only shows a “dash” for all higher grades due to its rarity.