Watch List notes:

South Carolina, $20, Feb. 14, 1777, serial 2744, PMG AU 50. Fr-SC-143. Exceedingly rare in this high of a grade and surpassing even that of the Eric P. Newman piece which was graded PCGS XF 40. The circular vignette is of a bird flying free from its cage with the Latin motto IBI PATRIA UBI LIBERTAS "Here in our country is where freedom is." Clear, well inked design on both sides and especially sharp edges, with a light center fold being the only indicator of circulation. Of the 19 examples listed on the PMG census, this note is tied with just one other for second finest known behind a sole AU 50 EPQ; in fact, the vast majority seen were mid to low VF - indicative of the southern colonies tendency to circulate notes often and thus leading to few high grade survivors like this note. Pedigreed to the Early American History Auctions sale of Oct. 13, 2001 with lot tag #956.
($500-750)