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Stack’s Bowers and Ponterio   |   The August 2018 ANA Auction   |   23 August 2018 Sort by Lot-NumberSort by Estimate
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Session 1, Lot 10020

Estimate: 6'000 USD   |   Starting price: 3'000 USD Price realized: 10'800 USD
Superb and Likely Unique
Loan of July 17 and August 5, 1861 $1000 Registered Bond Specimen
United States of America. Acts of July 17th and August 5th, 1861. $1000 6% Registered Bond. Hessler X128D. Specimen. Choice Uncirculated.
A choice condition rarity, very stylishly engraved, and likely unique. Bonds from this early enactment of any type are important in any form: specimen, issued, or proof. This same act created the Demand Notes and initialized our famous "greenbacks," which were essential to commerce and as precursors of the Legal Tender Notes, that traded at a discount versus the gold. Many of these bonds were sold to banks and financial institutions for financing the war effort. The printing contracts prior to the creation of the Bureau of Engraving and Printing were awarded to all the major security printers depending on requirements. Specimen printed on bond paper (sturdier bond paper than used for the Rawdon, Wright, Hatch & Edson 1840s loan certificates from the Vattemare Albums) by the National Bank Note Company (New York). 27.0cm by 16.0cm within original rim mounting from the Vattemare albums. Black printing throughout. A handsome layout with Washington at top center. Flanking at upper left are Zouaves being led in a charge and agriculture implements at upper right. Both vignettes were also used on the North Castle, NY Hampden Bank Obsolete note series. Under vignettes are large 1000 dies composed of overlapping elements created with the Cyrus Durand patents (who left Danforth, Wright & Co. when it became part of the American Bank Note Company consolidation to be part of this firm). The back transfer form is green and very vibrant. The Hessler Plate Bond, illustrated on page 210. Lovely and the quality is top flight. Last sold in 1994 at a bargain price of $1,870 which was triple what it brought in 1982. Decades later it is worth significantly more. There are less than a handful of these registered Specimen bonds known (only three different in the Vattemare sales) from this important, initial Civil War financing act. This is a showpiece, offering great quality and highest rarity, and we recommend aggressive bidding for its acquisition.

From the John E. Herzog Collection; Hon. J. W. Middendorf II Collection Sale (Christie's, March 22, 1994, lot 174); originally Alexander Vattemare Presentation Albums Sale Part Two (Robson Lowe/Christie's, September 17, 1982, lot 1522).

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