Description$1474 Adjusted Service Certificate of January 1925.
A lovely BEP product with the text on one side above a red Veterans Bureau seal, a bald eagle vignette on the other side in bright orange ink, and beside that a striking vignette of Doughboys with bayonets drawn, advancing uphill, and Old Glory in full wave. This certificate bears serial number A1534440. It was issued as part of the "Bonus Act," and these certificates 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 20-year period, but they were not to be cashed until 1945. The economic stress caused by the Great Depression saw a demand by many veterans to cash out their certificates early and in 1932 the so-called "Bonus Army" marched on Washington, DC. It was not until 1936 that Congress passed a bill which President Roosevelt signed allowing veterans to convert these certificates to Adjusted Service Bonds and redeem their bonuses sooner. Few of these certificates exist because the law required their surrender before the new bonds would be issued. This piece grades Very Fine. We have auctioned only two other examples of these certificates. Both graded VF and crossed our auction block in 2014. The winning bids were $1292.50 and $1468.75.
Estimate: $1,250 - $1,750.
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