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    Description

    $100,000 United States Treasury Bond

    Serial Number 4 $100,000 United States Treasury Bond Due August 15, 1963 PCGS New 62.
    This bond comes from a small group of unredeemable bonds that were locked away in the vault of the First National Bank of Boston in Havana and were eventually repatriated back to the States. We told the story of these bonds in a recent Signature Auction where two examples graded similarly to the ones offered here this evening sold for between $10,575 and $14,100. Our description read in part, "Issued on December 15, 1954 to the First National Bank of Boston, this bond and the one that follows have a storied past. Shortly after Fidel Castro's rise to power in Cuba, he started seizing United States held assets on the island. Hundreds of thousands of acres of United States held land that was mainly used in the production of sugar cane was nationalized along with many United States owned business holdings. One of the last United States owned interests to be nationalized were the banks, including branches owned and operated by the First National Bank of Boston, the First National Bank of New York City, and Chase Manhattan Bank. However, the banks had large deposits on hand, with many of them in the form of Treasury Bonds. The bonds on deposit in the banks proved to be challenging. The Bureau of Public Debt was ordered to cancel the bonds stored in the bank vaults in Cuba and to prevent any unnecessary loss to the American banks. Thereafter, the bonds were reissued in absentia to each institution. A portrait of President Grant is at upper left and there is a deep red Treasury Seal as used on United States large size paper money prior to 1929. This bond is well centered with full margins and paper originality. A great item that will cost its new owner a fraction of its face value." The example offered here features serial number 4 and is fully margined with deep inks. Some minor pinholes are seen in the upper margin, likely from the time it was issued. With few opportunities to own an example of this incredible denomination, we expect a similar realization this evening.


    Auction Info

    Auction Dates
    January, 2014
    8th-13th Wednesday-Monday
    Bids + Registered Phone Bidders: 4
    Lot Tracking Activity: N/A
    Page Views: 757

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