US Treasury Certificate (bearer bond)
I rarely see US Treasury bearer bonds of any kind, so I am always curious when I see one. I think they are under-appreciated (and under-valued) compared to a lot of other US currency. The are very much like currency in appearance and in the way they are printed. I think the values would be a lot higher if they were listed in catalogs as interest bearing notes. Some interest bearing notes are already listed as currency, such as the Compound Interest Treasury Notes of 1863-1864, Interest Bearing Notes of 1861-1864, and the 1879 Refunding Certificates. The bearer bonds that I refer to were issued during the time frame of WW1 through the Great Depression.
Starting around WW2 Savings Bonds were no longer payable to the bearer on demand. They were only payable to the registered owner and were not transferable except to the heirs of an estate. They had the name of the registered owner typed on the bonds themselves. At any given time there is usually quite a few of the WW2 era (or newer) savings bond on eBay (most are already redeemed and cancelled). The bearer bonds are a lot rarer because they are older, and the physical bond had to be completely surrendered when cashed in.
Anyway, here is my recent eBay acquisition (and probably the only major find I've ever had of a paper item on eBay):