LOT Old Heritage Auctions  /  2007 May St. Louis, MO (CSNS) CAA Sig. #436  / 

12094

Massachusetts Commodity Bond January 1, 1780 Very Fine,

Currency:USD Category:Coins & Paper Money Start Price:240.00 USD Estimated At:960.00 - 1,440.00 USD
Massachusetts Commodity Bond January 1, 1780 Very Fine,
<B>Massachusetts Commodity Bond January 1, 1780 Very Fine, repairs.</B></I> This bond is listed in Anderson as MA-21 and considered by him to be an R5 (31 to 75 known). These Commodity Bonds are perhaps the most interesting of all the Massachusetts fiscal paper, because both their principal and interest were tied to the current price of various commodities (corn, beef, sheep's wool, sole leather) at the date the bond was due. The bonds were authorized to cover the depreciation of pay received by Continental soldiers and sailors. This specimen was payable to Benjamin Barron, a lieutenant in the Continental Navy. This is also the scarcer variety, with the engraver's name, J.M. Furnass, incorporated in small letters within the loop of the final "r" in Treasurer in the lower right corner. However, only remnants of that imprint remain. The wear on this note consists of three vertical folds, three archival tape repairs, soiling near the right edge, small internal apertures, edge nicks, and a clipped corner tip. Still a rare item that is much better in appearance than it is in description, and it is also a direct link to America's fight for independence.<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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