$20 Spanish-American War 3% Coupon Bond of 1898

These bonds were issued by The United States as a way to provide funds to meet the expenditures of the Spanish-American War. The central design shows a portrait of George Washington as engraved by Alfred Sealey. Of course the entire idea of buying a bond was to redeem it for interest. It is no surprise that these are extremely rare today. Records show that only 182 went unredeemed. A 1988 guide to bonds suggested that only 1-3 of these was known to still exist. That number has crept up a little in the last 27 years, but certainly less than ten of these have been documented as held by collectors. This bond has 16 coupons. It shows two horizontal storage folds and the back has some occasional foxing spots.

Realized Price: $4680