拍品描述： United States of America. Act of June 25, 1910. $20 2-1/2% Postal Savings Coupon Bond of 1911-1932. July 1, 191_. Specimen. Fine.This bond act was created for small investors, mainly those who lost confidence in banks due the crises in 1907 and earlier in 1893. In 1893, the clearing house systems were created for such events with the backing of J.P. Morgan who stabilized the nations bank and made a handy profit. These bonds initially paid 2-1/2% (tax-exempt), but soon after, there were other bonds, like the Liberty Loans, that paid more, and only the smallest investors found favor with these. The system ran for decades, despite being old fashioned, favored by senior citizens who grew up on it. It was phased out in the 1960s and unclaimed funds reverted to the government. These earliest Specimen coupon bonds are much different from the registered type Postal Savings notes used later. This appears to be the first series. Long coupon bond and interesting style. Printed by the BEP. 22.0cm by 37.0cm. The 40 coupons under are perpendicular to the principal. On the principal, Washington in center of text, blue Treasury seal. Blue seal on coupons. Orange back with one panel face for folding. Stamped SPECIMEN on the principal portion. This is the first of several types that all may be unique in Specimen form and most may be unknown issued. They initially appeared in the April 1981 NASCA Vacca sale where they realized significant prices. Very toned, some brittleness results in splits and some chips off. Great embossing remains. This sold for $341.25 over 37 years ago. The other one in the Vacca sake was damaged.From the John E. Herzog Collection; Previously Dr. Joseph Vacca Collection (NASCA, April 27, 1981, lot 1197).