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REDUCED! 1863 $500 Confederate 7% Coupon Bond Sold @ Sotheby's in 1987 - $250 (Zachary)
condition:
good
make / manufacturer:
CSA
model name / number:
$500 7% Coupon
size / dimensions:
See ad and pictures
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RARE Original & Authentic February 20, 1863 $500 Confederate States of America 7% Coupon Bond Last Sold Through Sotheby's in 1987 -- Now Available Again!
Sotheby's 1987 Catalog Provenance (See Pictures) -- Hand Signed by C. A. Rose, Register of the Treasury
With Certificate of Authenticity
SALES PRICE: $250 -- No PayPal payments or checks. Please don't ask. The Buyer will appear in person and pay in CASH ONLY.
Printed Bond Certificate signed: C. A. Rose for Register of the Treasury, 1p, 13" x 13". Bond verbiage reads, in part: "On the First day of July, 1868, The Confederate States of America will pay to the Bearer of this Bond at the Seat of Government or at such place of deposit as may be appointed by the Secretary of the Treasury the Sum of FIVE HUNDRED DOLLARS with interest thereon from this date at the rate of Seven Per Cent per annum payable semi-annually on the surrender of the annexed coupons..."
This bond was issued to raise monies for desperately needed supplies and food for the beleaguered Confederate troops. The bond contains an engraving of a Confederate soldier near a campfire and is hand numbered 3262 and hand signed by both C. A. Rose and the coupons by N. Palmer for Register Rose. Confederate Bonds, backed by cotton exports, were bought primarily by European investors who were supporting the South during the Civil War (1861-1865). Four-fifths of the cotton for the flourishing textile mills of Great Britain and Western Europe came from the Confederacy. The Union's blockade of Confederate seaports (1864) made it impossible for the South to get cotton to Europe and led to the default on this and other loans.
Only 1 coupon submitted for interest redemption; all others present and signed. Lightly creased. Light stains at blank margins. All signatures and hand numbering sharp. Very Fine condition, as the numerous photographs depict very well.
Selby Kiffer, International Senior Specialist of Sotheby's, has confirmed via email the following: The bond about which you have inquired came from the Sotheby’s sale of November 24, 1987. I have attached photos of the catalogue cover, title-page, and first page of the description. As you will see, the sale consisted of...bonds that had been purchased by some English concern during the Civil War...The lot was sold for the equivalent of $623,000 to an American coin dealer...the bond...was part of (a) lot of...CSA bearer bonds sold by Sotheby’s in 1987.