DescriptionMassachusetts Commodity Bond January 1, 1780 Very Fine.
This six per cent bond for £328 is listed in Anderson's The Price of Liberty as MA-22. 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 Fleet Hill. This bond is a direct link to America's fight for independence. This example has the folds of a VF, but it has several edge tears of varying lengths plus it was also severed in two. There will be no returns on this lot for any reason.
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