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U.s Bond One Dollar Interest Payment 1891

 
 
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Pillar of the Community
United States
4897 Posts
 Posted 03/14/2012  8:02 pm Show Profile   Bookmark this topic Add amida17 to your friends list Get a Link to this Message



Anyway,

Found a bond payment cert...I think.

Obverse:

United States of America will pay bearer One Dollar
Three months interest on Bond for $100
due Jan 1st 1891
4 Perct Consols

Signature is....John Allison, Register of the Treasury

Reverse:

178609C


Anyone have any idea? I'm usually pretty good finding things on the Interwebs....no luck here.

Thanks,

Vinnie
Edited by amida17
03/14/2012 11:36 pm
Pillar of the Community
United States
4897 Posts
 Posted 03/14/2012  11:08 pm  Show Profile   Bookmark this reply Add amida17 to your friends list Get a Link to this Reply
I figured it out....a little. They are coupons the buyer redeemed for interest payment. Apparently they were attatched to the bottom of the bond. I know the bonds themselves are collectible. Anyone know if anybody collects the payment coupons?
Edited by amida17
03/14/2012 11:09 pm
Valued Member
United States
395 Posts
 Posted 12/12/2017  5:07 pm  Show Profile   Bookmark this reply Add GregAlex to your friends list Get a Link to this Reply
I realize this is an old thread, but now that it's on the new subforum I'll respond for the benefit of other members.

I typically advise collectors to avoid individual bond coupons, unless the bond is quite rare. In this case, (early U.S. Treasury bonds) there is a market for these coupons because the bonds themselves are so scarce and expensive. But generally, commercial bonds coupons are extremely common.

Bonds often came with one or more pages of 30 to 40 coupons. These would be clipped off by the company at six-month intervals as interest was paid. However, many bonds were sold or cancelled before all the coupons were used -- and few modern day dealers have taken to clipping these off themselves and selling them for a buck or two. With 60 or more coupons you can see why they might be tempted. Then they turn around and sell the coupon bonds, minus the coupons. In the larger scripophily market there's little demand for these coupons; most are bought as curiosities by collectors who don't really know what they are.

Edited by GregAlex
12/12/2017 5:09 pm
Valued Member
United States
395 Posts
 Posted 12/21/2017  4:38 pm  Show Profile   Bookmark this reply Add GregAlex to your friends list Get a Link to this Reply
As a follow-on, I tracked down the bond coupon in the original post, using "An Illustrated History of U.S. Loans" by Gene Hessler. It was originally attached to a Four Percent console bond first issued in 1878. The book has no image of the $100 bond, though there is an picture of the coupon. That's probably because the registered $100 bond is assigned a rarity of R8, meaning only 1 to 3 are estimated to remain in existence. So collectors will have to settle for these coupons, which, in this case, do command a premium.

I did find a photo of a $50 bond from the series on Wikipedia. It would look much like this, but with a portrait of Daniel Webster.





Pillar of the Community
United States
3998 Posts
 Posted 12/21/2017  4:44 pm  Show Profile   Bookmark this reply Add scopru to your friends list Get a Link to this Reply
Interesting. Good research.
ANA member: 3178122
NTCA member: 10118
Edited by scopru
12/21/2017 4:44 pm
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