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Civil War era ??
picklepete
Posts: 414 ✭✭✭✭
in Q & A Forum
Hi.. First off I'm a sports card collector not currency.
My mom's family was born and raised in Rockingham North Carolina and they passed these Civil War era documents along to me.
There are 3 sheets total..
Any info on them would be appreciated.
Thx, Pete
1
Comments
Civil War Confederate bonds. Nice collectables but not necessarily rare. Most I have seen are rolled, not folded, but not ruined by any means.
Some of them seem to have all the coupons (I think 60 was the full set) while others have since that were clipped and redeemed.
Its neat to have something like that which descended down through the family.
I have a similar bond but it's missing some coupons. I bought it about 30 years ago but it was reasonably priced (I was just out if college, so I couldn't have spent much on it). You have a great piece of American history
The document is very nice, I'd fold the coupons behind it and frame the promissory note. Good luck. Peace Roy
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall
There are undoubtedly some rare issues but many are very reasonably priced.
Some years ago I bought four (three different and a duplicate of one of them) and I think I paid $30 or $40 each. The market was a little soft then as many hundreds were imported from London when a large bank there sold off bonds it had been holding for clients who were hoping to get value from the US government in the 1880s. The effort failed and the bonds sat in the vault for 100 years.
The bonds had been bought by people and banks in England during the Civil War as a way to support the Confederacy. Those bonds were complete as they didn't bother to clip the interest coupons every month since they had no way to redeem them from across the Atlantic. (In theory, the coupons could have been cashed in later).
My bonds are from that group and have a few rubber stamp notations attesting to their connection to the London bank and the effort to get the US government to redeem them.
So I can't cash these in & hit the jackpot !
Damn... Lol
Interesting stuff.. Thx all..
Pete
I wish I knew more about this stuff ... Very interesting.
Really nice.
USN & USAF retired 1971-1993
Successful Transactions with more than 100 Members
Heck of a way to fund a war. And the iou's went poof! Value of signatures would require some sleuthing. Good luck. Peace Roy
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall
Yeah
These fall under scripophily
As mentioned they are bonds as you can see they are loans.
Cash them in? Some may say long live the confederacy but their currency no longer lives.
These are bearer bonds. They aren’t registered by name and whoever stole them could cash them in(whoever bears them) the group of rectangles are coupons. They are cut off and presented each period to claim interest payments on the loan. On the 100 loan, I see it pays 3 per six months or 6% a year. This is called the coupon rate.
Useless info? It is still language used today. Although in the USA at least bonds are registered and are no longer bearer instruments.
I wouldn't buy one that isn't certified. Lots of reproductions being sold on EBay.