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Details about  $100,000 TREASURY BOND OF 1963 PCGS AU58 SERIAL #1 ISSUED 1954

$100,000 TREASURY BOND OF 1963 PCGS AU58 SERIAL #1 ISSUED 1954
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Item Information

Item condition:
--not specified
History:
Price:
US $85,000.00
Approximately C $92,535.24(including shipping)
Shipping:
US $18.00 (approx. C $19.60) Economy Int'l Shipping | See details
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Item location:
Flemington, New Jersey, United States
 
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14 day money back, buyer pays return shipping See details
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eBay item number:
330942660602
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Last updated on  Jan 17, 2014 09:49:18 EST  View all revisions

Item specifics

Circulated/Uncirculated:

Uncirculated

 

denoms

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One of the greatest trophy items imaginable. Serial number one hundred grand bond with the Grant portrait. With all of the $100,000 Gold Certificates redeemed, few financial instruments of this denomination or higher are available to collectors. The Taylor Family Collection bearer bond was quickly redeemed by the winning bidder at the Public Bureau of Debt. The serial number one bond is impressive beyond belief. Issued on December 15, 1954 to the First National Bank of Boston, this bond has a storied past. Shortly after Fidel Castro's rise to power in Cuba, he started seizing US held assets on the island. Hundreds of thousands of acres worth of US held land mainly used to produce sugar cane were nationalized as were many US owned business holdings. One of the last US owned interests to be nationalized were the banks, including branches owned and operated by the First National Bank of Boston, First National Bank of New York City, and Chase Manhattan. The nationalization of US banks on September 17 left very little, if any, US owned interests out of the control of Castro and his forces. Unfortunately for US based companies with assets in Cuba, there was little to be done as the lands and physical properties were permanent. The banks however had large deposits on hand, many of them in the form of Treasury Bonds.
Though little could be done, it was very important to keep US assets out of Castro's hands. Some were destroyed, but this bond on deposit in the bank proved to be a challenge. The Bureau of Public Debt was ordered to cancel this bond stored in the Cuban bank vault to prevent any unnecessary loss to the First National Bank of Boston, this was reissued to the institution in absentia.
The bond represented here was locked away in the Cuban vaults of the First National Bank of Boston. Though unredeemable, it was repatriated providing a single collector the ability to own a Bureau of Engraving and Printing produced bond despite the fact that all, or virtually all of these have been redeemed and destroyed. That this is the Serial #1 is truly serendipitous. This piece is the first $100,000 Treasury Bond of 1963. Issued on December 15, 1954, it earned interest at a rate of 2 1/2% until the due date of August 15, 1963. This piece features a vignette of Ulysses S Grant in the upper left. The large red seal is the same used for large size Legal Tender and Red Seal Federal Reserves Notes. The piece is well margined with little we can see precluding a full CU grade. Serial number one is featured on this piece. The serial number, indicating the first bond issued for the 1963 Bond emission, will likely attract attention. An opportunity beyond belief.

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100g.jpg

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Item location: Flemington, New Jersey, United States
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