DescriptionBall 156 Cr. 116 £100/2500 Francs/4000 lbs. Cotton 1863 Bond Fine-Very Fine.
This is one of the fabled bond issues of the Confederacy as it was floated overseas in London and the Continent with the backing of the Erlanger financial empire. These cotton bonds are very popular with collectors and this is an example of the smallest denomination issued. The European printer started with the £1000 bond denomination, thus the Series D designation on the £100 bond. In the 1960s a relative of the Erlanger family burned the remaining bonds in the family's possession thinking that they were worthless paper, thus greatly enhancing the scarcity of the few survivors. This example with 36 coupons shows nice paper integrity with just a few pinholes. The Erlanger bonds are signed by banker Baron Emile Erlanger and Confederate diplomat John Slidell. This is only the fifth Ball 156 that we have auctioned.
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