A Bit Worse For Wear, But I Like It Regardless...

It's a promissory note written on March 8, 1921 for $9,000 with $1.50 in Washington-Franklins illegally used as revenue stamps to pay the $1.80 tax (rate is correct per the 1920 schedules that John Becker posted in the forum several days ago).

It shows payments made over the course of 10 years. The document and stamps sadly have numerous pinholes due presumably to the document being taken down and repinned to a wall/board over that period as individual payments were documented.

Note that over the course of 10 years, the payments did little more than keep up with the interest due, the balance being $8,300 as of February 28, 1931.

The writer of the note had a bit of a dyslexic moment as the middle 50-cent stamp is cancelled "1/3/28" instead of "3/8/21" as shown on all of the other stamps... correct digits, but jumbled order.

20th century illegal usages are much more scarce than their 19th-century counterparts.

Wow can't make 6% interest today

Fantastic item, lovely even with the pinholes. Just gives it extra character, you know?

Lovely item! Sometimes an article that's a bit bashed up just adds more character to it.

According to some, that perfectly describes me!



Jim

Actually, sometimes it's more than that. It can add legitimacy.

I remember having a conversation with Labron Harris at his booth at CHICAGOPEX a few years ago and we were discussing a particular cover and its authenticity. He said "It's too clean, too perfect. I would expect a cover with this type of usage to be more weathered, have some 'schmutz' on it."

(Not in the case of this document, but the principle still stands.)

I have had that discussion with Labron (and others) as well. It can be very important.

Interesting. Thanks for sharing.

Very cool, wait..and bankers are still doing this to hard working people? 10 years, just kept up witht he 'head above water' payments? very cool