Fr. UNL Hessler X134E $10,000 186_ Temporary Loan of 1862 Certificate St. Louis Office of the Assistant Treasurer of the Unite...

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Very Rare $10,000 Temporary Loan of 1862 Certificate

Fr. UNL Hessler X134E $10,000 186_ Temporary Loan of 1862 Certificate St. Louis Office of the Assistant Treasurer of the United States Remainder PMG Very Fine 25 Net.
A moderately circulated example of this very rare Temporary Loan Certificate. Gene Hessler in An Illustrated History of U.S. Loans 1775-1898 gives the X134E number his highest rarity rating of R8, 1 to 3 known. Our experience has been that we have auctioned six different Hessler X134E examples over the years and all are on St. Louis. That figure includes the certificate in this lot. However, the piece we present tonight is tied with only one other for the highest graded of that sextet. The other certificate graded PCGS VF 25 with a small edge tear and it brought $13,200 in January 2019. Assistant Treasurers were authorized to receive deposits of not less than $100 for a term of not less than 30 days. In return, they would issue a certificate of deposit earning 5% per annum. A red printing on the face of this certificate states the 30 day factor and that the instrument is payable in Legal Tender Notes. In order to get your money back, you had to turn in your certificate, resulting in the extreme rarity of these items. This is an unsigned and undated remainder with a Net grade that has had a restoration to some of the edges. Nonetheless, it remains an attractive and unusual mid-grade financial instrument of the highest denomination of this issue from the early days of the Civil War.

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