California Municipal Bonds Appraisal

San Francisco City and County Bond Certificate (featuring coupons)

This item is an antique bond certificate, specifically a 'Bond City County San Francisco' document. It appears to be printed on aged paper, exhibiting a distinctly sepia-toned or very light brown hue, indicating significant age and exposure. The primary denomination of the bond, '1000', is prominently displayed in a large, bold, red font, likely signifying '1000 dollars'. Above this, a detailed vignette illustrating a sailing ship and a cityscape or port scene is centrally located, typical of elaborate engraving found on such financial documents of the era. The text 'STATE CALIFORNIA' is discernible below the '1000'. The bond also features numerous smaller, rectangular coupons arranged in columns at the bottom half of the document, each likely representing interest payments, many of which appear to have been cancelled or 'clipped' as indicated by diagonal lines across them. The edges of the paper show signs of wear and slight discoloration, consistent with aging and handling, but overall the document seems to be in relatively good, stable condition, perhaps having been stored flat or within a protective binder, as suggested by its current display in a blue folder. The presence of these coupons, often removed as interest was paid, helps date the document, and the general aesthetic points to a late 19th or early 20th-century origin. The label 'PL. SAUPHON 1978' written in pencil or pen on the left margin suggests a past ownership or cataloging entry from that year.