1780 Revolutionary War 6 Percent Commodity Bond
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American Revolution
1780 Revolutionary War 6% “Commodities” Indexed Bond
January 1, 1780-Dated Revolutionary War, State of Massachusetts Bay, “Commodities” Based Indexed Bond, Very Fine.
Wonderful speciment of this Revolutionary War Era 6% "Commodities" Bond, “State of Massachusetts Bay,” January 1, 1780, partially printed, Treasury Certificate, Commodities Bond, bearing 6 Percent Interest, 875 Pounds, issued to Ensign James Webb. There are some old sealed vertical fold separations repaired on the blank reverse side with early tape. This rare “Commodities” Based Bond form was popular as being payable in funds that were based against a contemporary basket of standard “commodities” therefore essentially being indexed to retain its value, against such as Corn, Beef, Sheepswool and Sole Leather, etc. Authorized to cover the depreciation of pay soldiers received while serving in the Continental line, signed by Dawes, Cranch, and Henry Gardner as Treasurer. Well printed in dark black text on quality laid paper with some light expected overall soiling. America’s First “Indexed Bond”.
1780 Revolutionary War 6% “Commodities” Indexed Bond
January 1, 1780-Dated Revolutionary War, State of Massachusetts Bay, “Commodities” Based Indexed Bond, Very Fine.
Wonderful speciment of this Revolutionary War Era 6% "Commodities" Bond, “State of Massachusetts Bay,” January 1, 1780, partially printed, Treasury Certificate, Commodities Bond, bearing 6 Percent Interest, 875 Pounds, issued to Ensign James Webb. There are some old sealed vertical fold separations repaired on the blank reverse side with early tape. This rare “Commodities” Based Bond form was popular as being payable in funds that were based against a contemporary basket of standard “commodities” therefore essentially being indexed to retain its value, against such as Corn, Beef, Sheepswool and Sole Leather, etc. Authorized to cover the depreciation of pay soldiers received while serving in the Continental line, signed by Dawes, Cranch, and Henry Gardner as Treasurer. Well printed in dark black text on quality laid paper with some light expected overall soiling. America’s First “Indexed Bond”.
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1780 Revolutionary War 6 Percent Commodity Bond
Estimate $700 - $900
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