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U.S. Department of the Interior - “Cherokee Outlet” Cherokee Nation Bond

Currency:USD Category:Coins & Paper Money / Paper Money - United States Start Price:1,400.00 USD Estimated At:2,000.00 - 4,000.00 USD
U.S. Department of the Interior - “Cherokee Outlet” Cherokee Nation Bond
SOLD
1,400.00USD+ (252.00) buyer's premium + taxes, fees, etc...
This item SOLD at 2013 Apr 16 @ 17:41UTC-4 : AST/EDT
Oklahoma, 1894, $10,000, 4 % Certificate of Ownership, Location of the “Cherokee Outlet” was a strip of land in Oklahoma territory. Specimen “Certificate of Ownership in 4% Indebtedness of United States of America, Due 1899”. Extremely rare and historic U.S. Federally related bond. Back has legend “It is hereby certified that the United States of America have agreed to pay the “Cherokee Nation” the sum of Eight Million, Three Hundred Thousand Dollars ($8,300,00)in five equal annual installments, beginning.....at a rate of four per centum per annum, in consideration of the purchase by the U.S.of A. from the Cherokee Nation of certain lands known as the “Cherokee Outlet.” The front of the bond has additional text “This indebtedness was incurred by the U.S.of A. for the purchase from the Cherokee Nation of certain lands known as the Cherokee Outlet under an ACT OF CONGRESS APPROVED MARCH 3rd, 1893 and has been purchased from the Cherokee Nation and assigned as per copy of certificate of the Secretary of the Department of the Interior endorsed hereon to the UNION TRUST COMPANY OF NEW YORK, which holds it as trustee. Vignette of Cherokee Indian on top title and bank building on left. Brown border. Red specimen overprint, POC's and “00000” serial numbers. XF condition. Evidently, the Cherokee Nation did not want to wait for the annual settlement and took a discounted lump sum from R.T.Wilson & Company as factors. The amount of discount is not listed. U.S. Federal related bond.