00 Confederate States Coupon Bond – Criswell 78, Ball 38

Description

00 Confederate States Coupon Bond – Criswell 78, Ball 38
Offered for your consideration is a 00 bond issued by the Confederate States of America under the Act of August 19, 1861. It was catalogued by the late Grover Criswell as Cr. 78 and by the late Dr. Douglas Ball as B. 38. The central vignette depicts a young woman, her hair blown by the wind, seated on a rocky outcrop, with roiling waves all around. Under her right arm, and partially supported by her left hand, is a shield, upon which appears the first national flag of the Confederacy, the famous “Stars and Bars” (this particular adaptation features three bars and a field with twelve stars in three horizontal rows). Navigating the turbulent sea are four vessels, three under sail and the fourth under steam. It is assumed that the female figure is a representation of the Confederacy, watching over the trading ships that were so vital to the success of the new nation, while the stormy sea represents the difficulties caused by the Union blockade. Above and beside this scene, printed in bold letters is
“LOAN”
, as well as
“Confederate States of America”
, while below is the statement that the bond was
“Authorized by the Act of Congress C. S. A. of August 19 1861”
. This statement is flanked by two decorative medallions, each presenting the denomination in numerical format. The body of the bond is dominated by the financial obligation, printed in lovely italic script. The obligation states (in part) that
“On the first day of July 1865 The Confederate States of America will pay to the Bearer of this Bond … the sum of ONE THOUSAND DOLLARS, with interest thereon … at the rate of Eight per cent per annum …”
. It further indicates that
“… This debt is authorized by an act of Congress approved August 19, 1861, entitled ‘An Act to authorize the issue of Treasury Notes, and to provide a War Tax for their redemption’”
.
It was signed and sealed
“… at RICHMOND, this
1
day of
March
186
2
…”
by
“Ro. Tyler”
in his capacity as
“REGISTER OF THE TREASURY”.
An intricate border encloses all of the foregoing elements, with the interest rate at the left and the maturation date at the right (the denomination appears in each corner), neatly separating them from the one remaining coupon. This coupon was valued at “
FORTY DOLLARS
” and was signed by “
N
C Crenshaw
”, one of the many individuals employed by the Confederate Treasury to sign their financial instruments. This bond was printed by
“EVANS & COGSWELL, CHARLESTON, S.C.”
as evidenced by their imprint at the bottom center (this imprint is light, with parts of several letters almost gone). In common with most government bonds of this era, the back is blank. Confederate records indicate that 993 of these bonds were originally issued, though how many have survived the intervening 150+ years is unknown. An interesting and desirable Confederate bond. The purchaser of this bond was almost able to redeem this bond, though what they would have received in value by this point is a good question.
Robert Tyler
was the son of John Tyler, the 10
th
President of the United States, and served as the register of the Confederate Treasury from August 13, 1861 until the close of the war. He received his position mainly through the influence of his father and not due to any special abilities of his own. It is interesting to note that during his father’s administration, Robert spent a great deal of time in the White House, and his wife served for some time as the official hostess.
Given the fact that the presently offered specimen almost reached maturity and had all but one of its coupons redeemed, it should come as no surprise that it exhibits signs of significant period use, as well as less than ideal subsequent long-term storage. Toning is present across the entire surface, imparting to the paper a yellow to light tan hue, significantly darker at the left and right edges (these could be covered with a mat if the bond were framed). A few foxing spots are scattered throughout the piece, slightly more concentrated toward the right of center. Due to the thinness of the paper and the acidic nature of the iron gall ink used, the manuscript additions have burned through at the serial numbers and are clearly affecting the signatures and date.
In common with virtually all documents of this size and type, numerous storage folds and creases are present, though none of these appear to have compromised the integrity of the paper (many of these folds occurred when the bonds were placed in safes or the cubbyholes of desks).  A few small pinholes can be seen when the bond is held to the light. This piece measures approximately 10 x 14¼ inches and would look great framed in an office or be a nice addition to an existing Confederate bond collection.
A charge of .95 will be added to the winning bid for postage and insurance.
If you have any questions concerning this item, please ask before purchasing.
Buy or Bid with Confidence – American Coins & Collectibles President Richie Self has worked 6 years as a paper money grader/authenticator. He has contributed to numerous reference books within the industry, as well as being a co-author of “The Comprehensive Catalog and History of Confederate Bonds, 2
nd
Edition” with Douglas B. Ball, Ph.D., Henry F. Simmons, M.D., Ph.D. and James R. Desabaye. Mr. Self is a life member of the American Numismatic Association, the Society of Paper Money Collectors, as well as numerous regional numismatic associations. He is an authorized submitter to NGC, PCGS, and PMG, a diamond founding member of Coin Dealers Helping Coin Dealers and a supporter of the Industry Council for Tangible Assets. American Coins and Collectibles can be found at many of the state and local coin shows.
American Coins and Collectibles
Shreveport, LA