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    Description

    $636 Adjusted Service Certificate of January 1925.
    This beautifully engraved Adjusted Service Certificate for $636 was printed and issued in 1925. This certificate was issued to Mr. Fred N. Essig, Jr. and bears number A1525853. It is a lovely BEP product with the text on one side above a red Veterans Bureau seal and a bald eagle vignette on the other side in bright orange alongside a striking vignette of Doughboys advancing uphill with bayonets drawn and Old Glory in full wave. These certificates were issued as part of the "Bonus Act," and were awarded to veterans who served in the armed forces between April 5, 1917 (the day war was declared on Germany and the Central Powers) and July 1, 1919, with $1 per day awarded for service within the United States and $1.25 awarded for service abroad. The awards were set to pay a maximum of $1500 with the accrued interest over a twenty year period, but were not to be cashed until 1945. The economic stress caused by the Depression saw a demand by many veterans to cash out their certificates early, and in 1932 the so-called "Bonus Army" marched on Washington to press this demand. It was not until 1936 that the Congress passed a bill which the President signed allowing veterans to convert these certificates to Adjusted Service Bonds (see the lot below) and redeem their bonuses sooner. Few of these Certificates exist because the law demanded their surrender before the new bonds would be issued. Experts say that fewer than a dozen are known, and this is the first we have handled. Very Fine.


    Auction Info

    Auction Dates
    January, 2014
    8th-13th Wednesday-Monday
    Bids + Registered Phone Bidders: 3
    Lot Tracking Activity: N/A
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