LOT #12130 |
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Massachusetts Commodity Bond January 1, 1780 Very Fine, repairs. ...
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Description
Rare Commodity Bond
Massachusetts Commodity Bond January 1, 1780 Very Fine, repairs. This bond is listed in the Anderson reference, The Price of Liberty, as MA-21 and considered by him to be a R-5 (31 to 75 known). These Commodity Bonds are perhaps the most interesting of all the Massachusetts fiscal paper, because both their principal and interest were tied to the current price of various commodities (corn, beef, sheep's wool, sole leather) at the date the bond was due. The bonds were authorized to cover the depreciation of pay received by Continental soldiers and sailors. This specimen was payable to Benjamin Barron, a lieutenant in the Continental Navy. This is also the scarcer variety, with the engraver's name, J.M. Furnass, incorporated in small letters within the loop of the final "r" in Treasurer in the lower right corner. However, only remnants of that imprint remain. The wear on this note consists of three vertical folds, three archival tape repairs, soiling near the right edge, small holes, edge nicks, and a clipped corner tip. However, none of the design features is seriously compromised. Still a rare item that is much better in appearance than it is in description, and it is also a direct link to America's fight for independence.Auction Info
2008 September Long Beach, CA CAA Signature Auction #3502 (go to Auction Home page)
Auction Dates
September, 2008
17th-21st
Wednesday-Sunday
Bids + Registered Phone Bidders: 2
Lot Tracking Activity: N/A
Page Views: 337
Buyer's Premium per Lot:
15% of the successful bid per lot.
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