Posted 4 years ago
1874 Bond of the State of Louisiana; $5 at maturity; The bond was issued with Eleven (11) Interest Coupons. The bearer of the bond would receive 7-1/2 Cents for each interest payment. The final four coupons were to mature Aug 1884, Feb 1885, Aug 1885, & Feb 1886.
Oddly, these Bonds are still valid, and can be turned in at the State Capitol. It is purported that failure of the State to pay them could be considered a Bond Default, and prevent them from issuing further bonds.
Obviously, the collectible value is far greater than the $5.30 Mature Value..
Pretty Neat Stuff???