Thirty-two pieces of Government of Texas promissory notes, 30 $5.00 notes, one $10 note, and one $20 note, all dated 1838–1839. These were sometimes referred to as Interest Notes because they were payable with ten percent interest one year from the date of issue. In good condition, with fragile cancellation cuts to all, ink cancellation notes to several, moderate toning and creasing, and expected wrinkling and handling wear. A total of almost $1.2 million in these notes were issued between late 1837 and early 1839. Rather than appreciating at a ten percent annual rate, however, the notes decreased in value—to less than 50 cents on the dollar by January of 1839. The Robert Davis Collection, read more about Robert Davis. RR Auction COA.
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