1862 1000 Dollar Boston Designated Depositary Certificate

1862 1000 Dollar Boston Designated Depositary Certificate

1862 $1000 Boston Designated Depositary Certificate

National Bank Note Company. Bond paper. Full deep orange frame, titles and four dies. Bottom center, Victory with flags. Complex obligations center and left end outside the margin line. Top title, ‘Office of the Designated Depositary of the United States’’ with location ‘Baltimore’ below. Orange back for endorsements. Unlisted denomination of this type. Rarity-7. Hessler did not break this series into two parts in his U.S. Loans book, so they can be confusing. The top titles come in two styles. This one and the ‘’Assistant Treasurers Office..’’ type. All are rare and mostly known as Specimens only. This fully issued example is numbered, 1431, and signed.

Assistant Treasurers were authorized to receive deposits of not less than $100 for a term of not less than 30 days. In return, they would issue a certificate of deposit earning 5% per annum. You had to turn in your certificate of deposit in order to get your money back. This resulted in the extreme rarity of these certificates. A great item for the advanced collector.

United States 1000 Dollar Bills

United States 1862 1000 Dollar Bill, Boston Designated Depositary Certificate