Louisiana 1874-1878 Baby Bond GB5065b UNC

  • Inventory:
    1 In Stock
  • Product ID: 22169
As low as: $29.00
Qty Wire/Check Bitcoin CC/PayPal
Any $29.00 $29.29 $30.16
  • Description:

    The Louisiana 1874–1878 “Baby Bond” with catalog reference GB5065b is one of the most iconic and collectible post-Civil War financial instruments issued by a Southern U.S. state. These so-called "Baby Bonds" were small denomination bearer bonds issued by the State of Louisiana in the tumultuous Reconstruction era. They were part of an effort to reduce state debt and stimulate public participation in government-backed financial securities. The GB5065b variety represents a $1 denomination bond issued in an eye-catching and compact form, which has become a standout collectible not only for its unique nickname and purpose but also for its artistic merit and historical resonance. The bond offered here in Uncirculated (UNC) condition is a rare survivor in such pristine state, as most examples were either redeemed or heavily handled.

    The term “Baby Bond” was not an official designation, but rather a colloquial nickname that reflected the small face value and physical size of the notes compared to other 19th-century bonds. The $1 denomination made these instruments accessible to average citizens, including children, hence the affectionate term. Louisiana began issuing Baby Bonds under Act No. 81 of 1874 to help address post-war fiscal challenges and to consolidate various forms of existing state debt. Bonds were issued in denominations of $1, $5, and $10, with the goal of paying 7% annual interest over 40 years. They were payable to bearer, meaning that possession alone conferred ownership and eligibility for interest payments.

    The design of the GB5065b $1 Baby Bond is a triumph of 19th-century engraving. The note features a central vignette of a seated allegorical female figure representing Liberty or the State, holding a laurel wreath in one hand and a shield in the other. Behind her is a shield bearing a pelican feeding her young—an iconic symbol long associated with Louisiana and its motto of self-sacrifice. The background includes finely engraved scrollwork and guilloché patterns to deter counterfeiting. Above the vignette is the boldly printed title “STATE OF LOUISIANA,” and below it, the bond’s denomination in both numeric and word form: “$1” and “One Dollar.” The phrase “Baby Bond” does not appear on the note itself but has become an enduring collector label over time.

    The bond includes the official text that outlines its promise of interest: “The State of Louisiana will pay the bearer ONE DOLLAR in current funds on the first day of July, 1914, with interest at the rate of seven per cent per annum, payable semi-annually on presentation of the proper coupons.” Below this, the issuing act and date are cited, most commonly “Act No. 81 of 1874.” The signature of the State Treasurer appears at lower right, typically hand-signed in brown or black ink, adding to the authenticity of the piece. Coupons—small tear-off sections attached to the bond—were printed alongside the main note to be redeemed for semi-annual interest payments, though many surviving examples have lost some or all of their coupons over time. However, in this offering, the bond remains fully intact and unredeemed, a rarity in itself.

    The Louisiana Baby Bonds were printed by the American Bank Note Company, one of the premier security printers of the time. Their craftsmanship is evident in the detailed linework, quality paper, and layout that balances function with beauty. These bonds were printed on high-quality rag paper, often watermarked and resistant to easy duplication, ensuring durability even under heavy use. The printer’s imprint may be found in the lower margin or border, a testament to the artistic standard maintained in these fiscal documents. Each bond was individually numbered and often dated to assist in tracking and redemption, though some remained unissued and are now found as remainders in collector circles.

    Despite their official purpose, Louisiana Baby Bonds faced skepticism in the financial markets due to the state’s post-war instability, political corruption, and uncertain fiscal solvency. Many of the bonds remained in the hands of individuals who never redeemed them for payment or interest, and over time, these unredeemed bonds became collectible due to their visual charm and historical context. The bonds became even more famous in the 20th century when collectors embraced the “Baby Bond” name and began cataloging them more formally through references like Criswell and Grover C. Criswell’s banknote guides.

    In Uncirculated condition, a GB5065b $1 Baby Bond is a particularly scarce and desirable item. UNC examples exhibit no folds, creases, or signs of handling. The paper is crisp and bright, corners are sharp, and all print elements—from the vignette to the microlettering—remain pristine. The ink remains vibrant, and no discoloration, fading, or wear is present. If coupons are attached and intact, their inclusion enhances the bond’s value dramatically. Collectors especially prize these bonds for their full originality and impeccable preservation, often displaying them in protective holders or archival mounts.

    Market values for a 1874–1878 Louisiana $1 Baby Bond in Uncirculated condition vary depending on visual quality, serial number, coupon presence, and paper freshness. Typical pricing for an example in UNC ranges from $250 to $400, with especially choice examples or rarer serial numbers occasionally reaching higher figures. Bonds with full coupons or with exceptional centering and eye appeal may fetch more in auction settings or from advanced collectors seeking to complete a full denomination set. Compared to other obsolete securities, Baby Bonds offer exceptional value for the visual and historical impact they deliver.

    The Louisiana Baby Bonds remain a distinctive bridge between currency, bonds, and political history. Their design reflects post-Civil War efforts to rebuild trust in government-issued financial instruments, while their accessibility ensured wide distribution. Collectors today value them not only for their rarity and artwork but also for their encapsulation of a unique chapter in Southern and American financial history. Unlike Confederate currency or state banknotes, these were formal government securities—designed to pay interest over 40 years, making their redemption unlikely and their preservation more remarkable.

    In summary, the Louisiana 1874–1878 $1 Baby Bond GB5065b in Uncirculated condition is an outstanding numismatic and historical artifact. It represents post-war economic resilience, beautiful American engraving, and the democratization of financial investment in the 19th century. With its charming nickname, elaborate design, and remarkable state of preservation, this bond captures the imagination of collectors and historians alike, serving as both a financial relic and a symbol of a bygone era in American state finance.

  • Details:
    • Denomination: N/A
    • Year: N/A
    • Diameter: N/A
    • Mint Mark: N/A
    • Thickness: N/A
    • Grade: N/A

Customer reviews