Civil War 1861 $4 Confederate States of America Bond Coupon – 8% War Loan of Aug. 19, 1861 – Low Bond #722 – Choice About Uncirculated (AU 55–58)

Technical Breakdown & Attribution

• Type: Confederate States of America Loan Interest Bond Coupon

• Denomination: $4.00 / FOUR DOLLARS (Rare early-war coupon denomination)

• Interest Terms: Payable for six months' interest at 8% Per Annum on a $100 Confederate Bond ($4 semi-annually = $8 per year / 8%)

• Due Date: January 1, 1867 ("Due January 1.st 1867.")

• Authorizing Act: Act of August 19, 1861 ("C.S. LOAN OF AUG.T 19. 1861.")

• Bond Number Attribution: Hand-inscribed in dark ink: Bond No. 722 for $100 (Desirable low three-digit bond number)

  • Inventory Tail (Bond Number): 0722 or 722

• Issuing Authority: The Confederate States of America

• Signature: Penned by hand in original brown iron-gall ink: M. H. Gary (or M. H. Cary) on the line marked For the Register of the Treasury

• Typography & Style: Distinctive early typeset calligraphic issue; arched ribbon reading "THE CONFEDERATE STATES OF AMERICA / Will pay to Bearer" with bold slab-serif "FOUR DOLLARS" flanked by delicate flourish brackets.

• Reverse Face: Blank unprinted back showing clear ink strike-through from the manuscript bond numbering and clerk signature.

Historical Significance & Early War Finance

1. The 1861 8% $100 Million "Hundred-Million Loan": Passed four months into the war, this act was the Confederate government's first major long-term bond offering designed to finance rapid military expansion and overseas weapons procurement.

2. Hand-Signed Authenticity: Unlike late-war 1864 coupons that were churned out with mechanical printed facsimile signatures, these early 1861 issues were individually hand-signed by Treasury clerks in Richmond deputized to sign for Register Robert Tyler.

3. Clerk Signature Variety: Your previous 1861 $4 coupon (Bond #344, due July 1866) was signed by clerk J. Newman. This coupon (Bond #722, due January 1867) was signed by clerk M. H. Gary, offering a great side-by-side study in Confederate Treasury department staffing.

4. Post-War Maturity (Never Redeemed): Due nearly two full years after the Confederacy fell, this coupon remained safely preserved, unclipped from its bond until modern times, and completely uncancelled.

Condition & Visual Grade Assessment

• Assigned Technical Grade: Choice About Uncirculated (AU 55 – AU 58)

• Preservation Highlights & Attributes:

  • Margins & Trimming: Neatly clipped from the original bond sheet with full, intact outer black framing borderlines visible on all four sides.

  • Paper Fabric & Body: Crisp, firm, clean off-white rag paper with strong original stiffness and zero handling softness.

  • Inks & Clarity: Strong black typographic relief across the title scroll and denomination.

  • Manuscript Details: The low hand-penned bond number 722 and clerk signature M. H. Gary remain bold, dark, and perfectly legible.

  • Purity: Completely free of pinholes, tape, tears, creases, or spindle holes. Features only minor, natural paper flecks original to 1861 mill manufacture.