3 ms·
If it wasn't a sequential serial number, but rather a long random string then that would make a lot more sense. If your serial had been cashed in fraudulently
by rogerbinns 14y ago
If it wasn't a sequential serial number, but rather a long random string then that would make a lot more sense. If your serial had been cashed in fraudulently then you would only find out when you tried to cash in the legitimate bond. There is still provides a massive incentive to steal numbers either from the bonds or the issuing company.
I'm somewhat sceptical of the security features. Obviously some would exist, but the huge value of the bonds makes forging them attractive. It mentions the bonds being held for many years (possibly decades) so the security features would have to last that long. In the UK they regularly change the bank notes withdrawing old ones from circulation and they are no longer accepted except at the Bank of England. The US doesn't seem to do this.
- justincormack 14y agoI think thats why people collect old bonds, as they were very ornate to make forging harder. Access to quality printing was less widely available, but I am sure there was fraud. However as you had to present coupons for interest and certificates for maturity, I suspect they would check them all together to check for duplicates, manually. I know a few people who worked in that kind of area who are old enough to remember will ask.