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United States Steel Corp. 1903 Registered Specimen Bond Quintet (5)

Currency:USD Category:Coins & Paper Money Start Price:400.00 USD Estimated At:600.00 - 900.00 USD
United States Steel Corp. 1903 Registered Specimen Bond Quintet (5)
SOLD
400.00USD+ buyer's premium + applicable fees & taxes.
This item SOLD at 2020 Feb 13 @ 15:03UTC-5 : EST/CDT
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New Jersey, 1903. Lot of 5 Specimen bonds, all are registered Sinking Fund Gold Bonds with the same scene of US Steel factory at bottom. Includes $500 in brown; $1,000 in orange; $10,000 in pink; $5,000 in purple; $50,000 in blue. All have red specimen overprints, "00000" serial numbers, POC's, and all are in VF condition and printed by ABNC. J. P. Morgan formed U.S. Steel on March 2, 1901 (incorporated on February 25) by financing the merger of Andrew Carnegie's Carnegie Steel Company with Elbert H. Gary's Federal Steel Company and William Henry "Judge" Moore's National Steel Company for $492 million ($15.12 billion today). At one time, U.S. Steel was the largest steel producer and largest corporation in the world. It was capitalized at $1.4 billion ($43 billion today), making it the world's first billion-dollar corporation. The company established its headquarters in the Empire Building at 71 Broadway in New York City; it remained a major tenant in the building for 75 years. Charles M. Schwab, the Carnegie Steel executive who originally suggested the merger to Morgan, ultimately emerged as the new corporation's first President. (5)