Hawaii Republic Of Hawaii, Department of Finance 10 Dollars Silver Certificate of Deposit 1895 Pick 12p1 Front Proof PMG Choice Uncirculated 64 EPQ. Queen Lili'uokalani of Hawaii abdicated on January 24, 1895. Dating back to 1887, turbulent times had seen a succession of rebellions, a new constitution, a coup d'etat, abolishment of the Hawaiian monarchy, the seating of a provisional government, a formal establishment of the Republic of Hawaii, American government embarrassment, and a four day counter-revolution. President Sanford B. Dole of the Republic of Hawaii signed Act 19 into law in 1895. This act replaced all previous currency laws of the Kingdom of Hawaii. The Minister of Finance Sam M. Damon was instructed to redeem and cancel all Hawaii Kingdom Series A (1879-80) certificates. In their stead, new gold and silver certificates of deposit for the Republic would be issued. The gold notes were to be redeemed in US gold coin and identified as (Series) B. The silver notes would be redeemable in either Hawaii 1883 silver coin or US silver coin and identified as (Series) C. The American Banknote Company was contracted for the printing of the silver and gold certificates using mostly stock vignettes. Plate letters were not used on the paper money of the Kingdom or the Republic of Hawaii, and all of these notes were printed by the ABNCo. Total cost for the Republic Series B and C notes was $6,395, and $4,395 of that total was financed at 6% interest by Bishop & Co. The silver certificates were placed into circulation first, and by December 1897, the total circulating was $272,500. The Republic of Hawaii became the Territory of Hawaii on April 30, 1900 after the passage of the Organic Act of 1900 by the Congress of the United States. At this point, Hawaii discontinued the issuance of paper money and began to destroy remaining unissued certificates. After 1909, Series A, B, and C notes could not be redeemed by the auditor without first obtaining the consent of the Territorial treasury. In the year 1916, it was reported that all had been redeemed except $3,325 in (Series) A and (Series) C notes and $140 in gold (Series) B notes. The accurately centered $10 Front Proof in this lot has been mounted on slightly larger cardstock. It has four POCs within the two signature blocks, but the POCs are not punched through the cardstock. Its preservation is of the highest degree as neither the Proof or the cardstock has any impairments. Simply, it is a note that is not only rare but also historical.

HID09801242017

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