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    Very Rare "Victory Liberty Loan" $50 Registered Bond

    United States - Act of September 24, 1917, Amended April 21, 1919 "Victory Liberty Loan" $50 4-3/4% Convertible Gold Note of 1922-1923. Issued. PMG Extremely Fine 40.
    This is a rare "Victory Liberty Loan" certificate that was part of the unnumbered "fifth" series (the others were numbered "First" to "Fourth) bonds. This is a registered bond (as opposed to a coupon bond) which would be issued to a specific individual, but could be legally transferred using the engraved form on the back. The interest was paid from its stamped date of issue. A small format vertical bond, it shows Jefferson at top center flanked by "50/$" dies. The red loan title and interest rate are at upper left. The obligation across the center has a baby blue sunburst, VICTORY / LIBERTY LOAN, and treasury seal undertint. The brown engraved transfer form is on the back, perpendicular to the face, with bond title (these were intended to be folded into thirds for storage).

    A fully issued bond having the typed payee name, with the embossed treasury seal at lower left. The transfer form was accomplished on the back. Bright, with typical folds as issued, and some light back soiling is seen. However, this is quite rare. The type was not in the John Herzog Collection sold in 2018. His $50 coupon bond from the series realized $3,120. We have handled only one: In January 2015 we sold a replacement bond of this type for $4,700. Mike acquired the present example at the June 1996 Memphis show from R. M. Smythe. It will likely prove to be another visionary purchase.
    From The Mike Coltrane Collection.

    Auction Info

    Auction Dates
    November, 2020
    4th-5th Wednesday-Thursday
    Bids + Registered Phone Bidders: 13
    Lot Tracking Activity: N/A
    Page Views: 423

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