Old gold Bonds from 1870

[FatCat]

Can any one tell me anything about these old Georgia gold bonds? They are for $1000 and are from 1870. Any help would be great. Thanks.

[ivan salis]

well the good news is its a collectible paper * theres one ( bond number #6--yours is #148 ) at a uk site the #6 is listed for 150 british pounds --about $250 in US money .

its a 7% interest per year -- $1000 x 7% = ($70 per year) --bearer bond * ie whoever is the "bearer of it" it gets the "money"--thus there is no "name" of owner upon it * the person in who's hands it is is the "owner" of it as it appears to have only had one "interest" coupon redeemed --there could be some value left in the bond itself as its a valid state debt that does not appear to have been redeemed * I would check into it with the state of georgia treasury dept. before selling the bond

the coupons were turned in every so often semi yearly or yearly to collect the interest due on the bond -- see if the item has pin holes in it by holding it up to a light --often "redeemed" notes were marked or pin holed

the georgia gov "bullock" that signed those bonds was a former union gen that was for "full-equal rights for blacks : including schooling , voting and all other "rights"

[brendan1414]

well the good news is its a collectible paper * theres one ( bond number #6--yours is #148 ) at a uk site the #6 is listed for 150 british pounds --about $250 in US money .

its a 7% interest per year -- $1000 x 7% = ($70 per year) --bearer bond * ie whoever is the "bearer of it" it gets the "money"--thus there is no "name" of owner upon it * the person in who's hands it is is the "owner" of it as it appears to have only had one "interest" coupon redeemed --there could be some value left in the bond itself as its a valid state debt that does not appear to have been redeemed * I would check into it with the state of georgia treasury dept. before selling the bond

the coupons were turned in every so often semi yearly or yearly to collect the interest due on the bond -- see if the item has pin holes in it by holding it up to a light --often "redeemed" notes were marked or pin holed

the georgia gov "bullock" that signed those bonds was a former union gen that was for "full-equal rights for blacks : including schooling , voting and all other "rights"

If you can cash that in, with interest thats over 10000 dollars.

[ivan salis]

1870 to 2011 * thats 141 years of $70 per year ( minus the one year that looks like it was "collected"-note the one "missing" coupon--so 140 years x $70 bucks interest is $9,800 dollars plus the $1000 base amount of the note due upon being redeemed --- $ 10,800 if it is still redeemible and the note itself is a collectible worth $250 or so too boot.--so from $250 to say up to $11,050 .00 not bad.

[Mackaydon]

I think you may be out of luck. This case seems to parallel your situation:
http://www.lawskills.com/case/ga/id/206/22/index.html
Don.......