1904 LOUISIANA TRUST BANKING $1 in VERMILLION PARISH OIL LAND! RARE PETRO DOLLAR

Description: Serial number may vary. Here's something you don't see on eBay every day. In fact, you probably won't see it once a decade. It's an original Lousiana Trust Banking Co. $1 that gave the buyer a) the "privilege" to apply for a loan up to $300,000 and b) the option to buy 1/20th Interest in a specified lot of the "CAPITAL OIL LANDS" in Vermillion Parish as well as $1 off the actual price of said interest upon exercise of the option. The Lot # is also the serial number of the note, which suggests that the issuer would retain the other 19/20TH's since they don't seem to have used the same Lot # on multiple notes. The note also mentions that "DRAWS" or drafts were payable in Gold and "Better than LOTTERY beause it is Legal" but does not detail how to obtain such a draw or draft or how much the buyer might stand to make off this "legal" offer. The reverse implies that it might be quite a lot by listing "bids received for Lots in the Capital Oil Lands" on the "Louisiana National Stock Exchange" ranging from $100 to $300,000 per lot. To dispel any doubts, the "BANK GUARANTEE" on the back states that the Chemical Bank in New Orleans and the Manhattan Exchange Bank in Chicago "will guarantee all obligations and attest to the fairness and responsibility of the Lousiana Trust Banking Company". Last but not least, the inscription above the President's signature states with sufficient vagueness: "We guarantee the condition of the above option". We're not sure if the $1 invested in this instrument or the "oil land" ever paid off, but we believe that it will prove to be a prudent numismatic investment at our low buy now price and a treasure trove of Southern history from Louisiana oil country. Estimated retail collector value: $200. Buy Now for $60 and SAVE 70% on a piece of currency that's bound to be "better than Lottery".

Price: 59.95 USD

Location: New York, New York

End Time: 2024-02-16T17:40:40.000Z

Shipping Cost: 3.95 USD