Us Currency 1870s Louisiana $5 "baby" Bond Crisp Cu, Post Civil War Document For Sale
1870s $5 LOUISIANA BOND
This is a distinctively different item from regular US Currency. It is one of the HARDER TO FIND--SMALL SIZE STATE BOND, the 1870s BOND from LOUISIANA, in CHOICE UNCIRCULATED condition in my opinion, but you can judge for yourself to make the final decision with the photos above, which you can enlarge. It has the of small portrait of a young child. This was a marketing idea to urge people in Louisiana to invest for their children's future during the post Civil War times when times were both tough and uncertain. It was issued in 1874 while U.S. Grant was the President. After investing an intial payment you could collect 7 1/2 Cents each year as interest and in 1886 you could collect $5, much like modern US Savings Bonds today.
The note is crisp and very clean and a good looking little note, with 4 full corners and it has good color contrast with no missing pieces. There are signs of no use. It has no folds, no edge wear, and it has no tears, or missing pieces, but what it does have edges that were cut by hand. This bond has 4 remaining coupons and no redemption holes. Someone took a near perfect uncirculated bond put it away, now its back! This is a super nice example of an old monetary instrument especially for a post Civil War item which are often very worn out when they are found. Nice for display.
The State Treasurer, E.A. Burke, whose stamped signature appears on the bond stole more than $1,500,000.00 from the state during his 10 year tenure. He was found out and fled the state to Europe and later Honduras.
So if you need it to add something special to your currency collection this may be just the opportunity, don't let it slip by.
Pictures are below
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Us Currency 1870s Louisiana $5 "baby" Bond Crisp Cu, Post Civil War Document: $25