187_ State of Louisiana 'Baby Bond' $5.00 CU (CR#29)
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The note pictured is the exact note you will receive.
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- Product Details
Product DetailsNice example of a remainder note from the state of Louisiana!
- Beautiful and important bond issued by the State of Louisiana
- Housed in an archival quality currency holder.
- Graded as Crisp Uncirculated
- Face: Beautiful vignette of a cute baby on the bottom right. 4 Unused coupons are on the far right.
- Back: A beautiful engraving with the word "LOUISIANA" in the middle between two "5's". The amount paid to the bearer upon maturity. Beautiful engravings are also on the back of each individual coupon, numbered 8-11.
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The 14th amendment to the Constitution of the United States outlawed the use of any currency not issued by the federal government. However, in the 1870s, the State of Louisiana, still licking it wounds from the defeat in the Civil War, tried to outsmart the government by producing bonds with interest bearing coupons. The "Baby Bond" is the most famous and sought after of these "bonds." These bonds were bought by parents and relatives and at maturity were worth $5. They paid annual interest of 7.5 cents! This has 4 coupons still attached.
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