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What is this? CSA Call Certificate

gsalexgsalex Posts: 218 ✭✭✭
in U.S. & World Currency Forum
This is something I've not seen before, but several of these recently popped up on Ebay. It's a Confederate "Call Certificate." This doesn't appear to be a bond, although it paid interest like one. It's also not currency. Does anyone know more about this type of security?

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Intrigued by all things intaglio.

Comments

  • uzuiwekuzuiwek Posts: 50 ✭✭✭
    My first guess is that it's what is now termed a "callable bond". Here's how they work:

    I sell a bond to you for $1000. I pay you interest (4% per year in this case) just like an ordinary bond. I have the right, however, to unilaterally buy the bond back ("call" the bond) by giving you the $1000 back at anytime, thereby ending the interest payments.

    Without looking up the act that created these things I can't say for certain that's what this is, but that's my impression.
    SPMC LM #405 - Collector of Ohio obsoletes. And other stuff, that I'm not going to tell you, so you don't buy it before I do.
  • DanCongDanCong Posts: 196 ✭
    a previous query on this here:
    Confederate Call


    image
  • lettowlettow Posts: 80 ✭✭✭
    Not to get too wonky, but the Call Certificate is a negotiable instrument (payable to a named person or order) which is transferrable by endorsement. A bond is transferrable by deliver and does not require an endorsement.
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