United States of America. Act of April 15, 1842. $500 6% Registered Bond. Hessler X106D. Specimen. Uncirculated.A large format Specimen on bond paper within original rim mounting, engraved and printed by Underwood, Bald, Spencer & Hufty, Phila/Danforth, Underwood & Co. New York. It is in the condition as it first appeared in the 1982 Vattemare Sale at Robson-Lowe. 28.5cm by 19.0cm within original rim mounting from the albums. Top center (common layout to series), Commerce and Ceres flanking shield and between large 500 dies. Complex obligations across. Left end, UNITED STATES LOAN OF 1842 on shaded panel. Right end, panel with central cameo head and cherub heads in corners. Bottom center, Hope. 6% interest for 20-2/3 years. Likely known only as Proof or Specimen. This example was used as an essay with partial hash-outs along the bottom signature areas and penned in "Register." The Hessler Plate Note illustrated on page 132. Also, illustrated in the Vattemare Part I catalog. An exceedingly rare bond Proof with a subtly beautiful style. Specimen bonds from this series, like this example, were in the 1981-82 Vattemare sales and later some of these were sold in Ford VI. Denomination not in Ford, but his $1000 bond realized $6,900 (former Vattemare Part I: 666). The last example we sold from this series was a $100 India paper Proof on card (ex Christies November 1990 ABN "Leo" world note sale) which brought $18,400 at our 2014 ANA sale. The mentioned 1990 Christies world sale did not have a $500 Proof from this series, but did contain most of the others. The $5000 bond from the Vattemare Albums most recently sold for $12,925 in January 2017. John obtained this privately along with two other Vattemare pedigreed loans (perhaps, ex John J. Ford). A lovely, impressive period engraving combined with immense rarity.From the John E. Herzog Collection; private purchase within a group from Smythe & Co.; originally Alexander Vattemare Presentation Albums Sale Part One (Robson Lowe/Christies, April 1, 1982, part of lot 665).
