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Red Hook Building Company/Portland Clearing House Scrip [138729]

Currency:USD Category:Coins & Paper Money Start Price:50.00 USD Estimated At:100.00 - 300.00 USD
Red Hook Building Company/Portland Clearing House Scrip  [138729]
SOLD
50.00USDto 2*****s+ buyer's premium (11.00)
This item SOLD at 2021 Oct 31 @ 13:25UTC-7 : PDT/MST
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Lot of two: 1) Portland Clearing House Association, five-dollar depression scrip (1933), cancelled, eagle vignette. 2) The Red Hook Building Company, New York, one dollar, 1838. The Red Hook Building Company was the brainchild of Col. Daniel Richards. He saw great potential for Red Hook, Brooklyn as a center for trade and housing. In the late 1830s he formed the Red Hook Building Company. A publicly owned real estate development concern with a plan to develop all of Red Hook. It promised that by developing the area, much of which was still underwater, the property value would quadruple. To raise money, shares of the company were sold to the public. (The stock certificates looked similar to today's dollar bills.)

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Provenance: Ken Prag Collection