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    Extremely Rare $100 War Bounty Scrip for Service in the Mexican War

    United States of America War Bounty Scrip $100 March 16, 1849 Hessler X117B
    A beautifully engraved, oversized piece of bounty land scrip that was payable to David Alexander, father-heir at law, for Artimus or Artemas F. Alexander, deceased. David Alexander was located in North Carolina. Numbered 3658, the piece measures approximately 6 1/2 inches tall by 9 1/4 inches wide, with a portion missing at the left margin, likely as part of the cancellation process. A product of Rawdon, Wright, Hatch & Edson, it features different vignettes of Washington on horseback on either end and a bare breasted Liberty with a shield and eagle at top center. Also included within the holder are handwritten documents affixed to the back of the piece of scrip concerning the legal standing of David Alexander. Semi-annual interest at a rate of 6% per annum was payable in January and July of each year and it was redeemable at the pleasure of the government. The scrip was issued in lieu of 160 acres of bounty land that was earned for a minimum of twelve months of service in the Mexican War. The war bounty scrip that resulted from the Act of 11 February 1847 was issued in 1847, 1848, and 1849 for a total of $233,075. There were three denominations- $25, $100, and $1000. Those who served for less than a year received 40 acres or $25 scrip. This piece of scrip was part of the $77,150 issued in 1849. Most of the returning soldiers evidently preferred land given the relatively small amount issued in this form. PCGS Very Fine 35, with the hole punch and cross-cut cancellations mentioned. Hessler lists each of the three denominations with a rarity rating of R8, indicating 1 to 3 known examples, in An Illustrated History of U.S. Loans. This is the first time we have been able to offer one of these scarce pieces and we are extremely pleased to be able to offer a second example below as well. There was one $25 example that was offered as Lot 485 in Part VI of the Ford sale in October 2004 that sold for $1380 with the buyer's fee. Eight years later, and with a greater appreciation within the collecting community for this type of scarce material, we expect this piece to sell in the range of...

    Auction Info

    Auction Dates
    January, 2012
    5th-10th Thursday-Tuesday
    Bids + Registered Phone Bidders: 1
    Lot Tracking Activity: N/A
    Page Views: 580

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