On a whim, I purchased these two sets of bond coupons, simply because I thought they were neat. This is my first post in the paper money forum because these are the first U.S. paper items in my collection. My main questions are, is CGA reliable, what exactly were these used for and do y'all like them too? Thanks for any info! I did try to look things up, but just kept getting articles on how to see if you could still redeem the things!
Those are pretty. I like the portrait vignettes, the fonts, and the mention of gold coins. That's about all I'm qualified to say over here on the paper money forum, well outside of my arena.
I like what you got and they would be a nice addition to my paper collection. You need to research paper as it’s in an entirely different field and different rules apply. I myself an partial to CSA Notes. Even that is different from paper money. Well done!
Very nice find. Thanks for sharing. I can’t contribute to much as to collectibility of these as I have never collected them. I will say I do like them. My great granddad worked as an engineer on the railroad back in the early 1900’s. I have his engineer certifications and some old railroad passes that allowed the family to ride anywhere for free. So anything railway is interesting to me. Just some information on the coupons. These are coupons for a coupon bond or bearer bond that was issued by the railway. You don’t see these much today with everything electronic. The bond had coupons attached and you would redeem a coupon after its maturity date for coupon payment. The bonds did not record the purchaser and the coupons were how someone would redeem the payments. Similar to how treasury notes pay today, we just don’t have the coupons attached to the bonds. Yours appear to come due in January and June each year and subsequent years on the first set. December and July for the second set.
Uh oh. I'm the guy who's going to rain on the parade. Bond coupons, but themselves, have very little value to those of us who collect stocks and bonds. The fact that they are being graded is something we roll our eyes at. These coupons were meant to be clipped by the issuing company, usually twice a year, when interest was paid. But frequently bonds were paid off early or a company merged or went belly up, and the bonds were cancelled without the coupons being redeemed. I have bonds with two, sometimes three, *pages* of unused coupons (100+). What irks me is when dealers get out their scissors and sell these individually or in blocks to unsuspecting collectors. These are attractive little pieces, but they are much better off staying attached to bonds they were issued with. Fyi, you can buy many of these old railroad bonds (intact) for less than what you probably paid for those slabbed coupons. For example: https://www.ebay.com/itm/255478529752 https://www.ebay.com/itm/195515354665 https://www.ebay.com/itm/225263420418 Scripophily (collecting stocks and bonds) is a great hobby, with lots of options for collectors of all interests. If you find the coupons interesting, you will love the real deal.
