June 9th, 1780, State of New Jersey Revolutionary War, Twenty Dollars, “Guaranteed” Issue by the United States with Five Percent Interest paid Annually, partially engraved by Henry Dawkins (a former counterfeiter) for the Continental Congress, Choice Very Fine+.
Fr. NJ-191. This Revolutionary War Red and Black printed note is fully signed face and back, including Joseph Borden (founder of Bordentown, NJ) on the reverse “Guarantee” line for interest payment due by the United States. The face side is signed by R Neil and B Smith. A light red stamp reads, “Interest Paid One Year”. This issue is an example of America’s “First Federal (Continental Congress) Bailout” the note for the State of New Jersey redeeming its $40 in Old Currency issued during the earlier part of the Revolutionary War for $1 of this new issue. It carried a 5% annual interest rate “Guaranteed” by the United States so as to be paper money more acceptable by the public with an interest schedule chart is printed on the lower left on the face. This currency was partially engraved by Henry Dawkins (the engraver and former Counterfeiter) who provided the outer border designs on both the face and back.
Joseph Borden (1719-1791) was a prominent figure in New Jersey during the American Revolution, actively serving in political and military capacities in 1780. He was known as Colonel Joseph Borden Jr. and was the founder of Bordentown, New Jersey.

He resided in Bordentown, where he had rebuilt his house after the British destroyed his home and business buildings in a May 1778 raid. His wife was also active, serving on a committee of women soliciting funds for the Continental Army in July 1780.
[American Revolution, Revolutionary War, New Jersey] [Continental Currency, War Finance, Joseph Borden] [Currency, Colonial Currency, Numismatics, Exonumia]