MINTY STATE OF SOUTH CAROLINA $10 BOND FROM 1872

MINTY STATE OF SOUTH CAROLINA $10 BOND FROM 1872

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$65.00 ON HOLD

Quantity Available: 1

Item Code: 2025-840

In 1872, the state of South Carolina needed around $300,000 dollars to finance the reconstruction of the Blue Ridge Railroad. All that was needed was an investor who could put up the cash. Stepping up was industrialist Edward Barton Wesley. One of the founders of The New York Times, Wesley was known as “The Dean of the Speculators.” For his investment of $300,000, Wesley received $1 million in collateral. The collateral was intricately-engraved bonds designed to look like actual currency notes. If everything had gone as planned, Wesley would have seen quite a return on his investment. Unfortunately, the Panic of 1873 struck triggering a depression in Europe and North America. In 1873 South Carolina reneged on its deal with Wesley, leaving him with stacks of these unredeemable notes.

Here is a $10 note featuring wonderful green color on front and back. Low serial number “466” printed in red. In the center of the front is John Blake White’s painting “Sergeants Jasper and Newton Rescuing American Prisoners from the British.” Crisp condition with no folds, tears, or soiling. [jet][ph:L]

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