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    Description

    Replacement $4,000 1795 Bond

    $4,000 Treasury of the United States Register's Office March 17, 1795 6% Bond Hessler UNL Replacement.
    A PMG encapsulated, but not graded replacement bond that has two horizontal folds visible through the third party holder. We are also able to view bold embossing on both sides. The first half of the front page of this bond down to Register of the Treasury Joseph Nourse's signature is similar to Hessler X55 listed on page 71 of An Illustrated History of U.S. Loans 1775-1898 by Gene Hessler with an accompanying drawing of the bond. However, X55 has an interest rate of 5 1/2%, but our current offering has an interest rate of 6%. Hessler X55 was issued to help pay down the nation's total foreign debt and it is safe to say that the same holds true for the unlisted bond in this lot. The bond is signed by Joseph Nourse, who during the Revolutionary War was the military secretary for General Charles Lee. Nourse became the first Register of the Treasury in 1781. He served 48 years in that capacity until he was removed from office by President Andrew Jackson in 1829. The second signature is on the verso. It is of Notary Public for the Commonwealth of Pennsylvania Robert Henry Dunkin. His official notary seal is to the left of his signature. The clue that this is a replacement bond is wording that Dunkin went to the office of the Register of the Treasury Nourse and viewed the original certificate (bond), and that the "foregoing is a true Copy, the same having been carefully compared with the said Original and found to agree Word for Word, and Figure for Figure; which said original Certificate was, at the said office, admitted to be genuine." We have auctioned only one other replacement of a bond from this era. It was a Hessler X55 replacement that had been also encapsulated, but not graded by PMG. It realized $19,200 in August, 2019. Overall, the piece in this lot is unquestionably a rare and historic item.


    Auction Info

    Auction Dates
    January, 2020
    8th-14th Wednesday-Tuesday
    Bids + Registered Phone Bidders: 1
    Lot Tracking Activity: N/A
    Page Views: 402

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