A 249-year-old banknote that recently sold at auction for $15,600 has captivated currency collectors and history fans.
Minnesota resident and YouTuber Dan, who runs the channel Polar Currency, shared the $1 continental banknote dated February 17, 1776. As one of the highest-graded notes of its kind, it was featured in a recent episode of Dan's new series, Rare Note Spotlight.
"I've been collecting paper currency for over 25 years," Dan said in his video. "The featured note sold at auction for $15,600 by Stack's Bowers on March 23, 2023. The note is the highest graded $1 Continental banknote of all catalog numbers for Continental $1 notes."
The historic banknote is actually part of a friend's private collection, which Dan described as "very high end."
"The reason I started the Rare Note Spotlight video series is because of the relationship and encouragement that I developed and received from the person that owns the note," Dan told Newsweek. "He is a very 'high end' collector, and I'm just the opposite. Ironic that we became friends, but it's a good community."
Continental currency, such as the featured $1 note, played a pivotal role during the American Revolution—financing military operations and other revolutionary activities.
Continental notes were not backed by tangible assets such as gold or silver, but by the trust and promise of the new nation. Despite their historical importance, widespread counterfeiting and overprinting caused the notes' value to depreciate rapidly, leading to the phrase "not worth a Continental."
Dan, who started Polar Currency in late 2022, uses his platform to discuss the artistry and history of banknotes. "I wanted to share my collection and talk about the history of the banknotes and interesting stories 'behind' the banknotes," he said. "Why were they issued, who signed them, and who is on them and why. The 'people' part of the stories are the most interesting to me."
The February 1776 $1 Continental note particularly stands out for its remarkable condition. Dan said: "It's graded 60 PPQ by PCGS Banknote. It's amazing to see this note in this condition, like it was just printed almost 250 years ago."
Dan also described its anti-counterfeiting features, including mica flakes embedded in the paper and intricate leaf designs created by Benjamin Franklin's printing company, Hall & Sellers.
A creative director for his local historical society, Dan combines his professional skills with his passion for currency collecting. "I produce printed material, web graphics, logos, digital photo restoration, research and present programs, and sometimes make videos to promote our local history," he said. "I really enjoy my work and thought, why not combine that passion with my hobby?"
Dan's YouTube channel offers a unique glimpse into a niche corner of rare currency collecting—something his audience appreciates, too. "It's just not the attainable notes that you can get, but the high-end collectors are part of the collecting community, and they help turn the wheel," he said. "Whether or not I can purchase a banknote or not, certainly, I can appreciate these rare notes."
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