1927 California Petroleum $500 Gold Bond - Specimen

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1927 California Petroleum $500 Gold Bond - Specimen - Now Texaco

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Our Price: $248.00

Sale Price: $195.00

Vintage Stock Certificate

Product Code: SC1922-56-2

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Description

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This rare California Petroleum Specimen Gold Bond was from 1927. They owned around 70,000 producing acres in California. In 1928, they were purchased by the Texas Corp (Texaco), the largest independent oil producer at the time. The purchase was made to compete more effectively with the Standard Oil Company of New York and Royal Dutch Shell in the West. The company became known as the Texas Company of California until 1941 when it was merged into the main Texas Company. This merger made Texaco the first company to market refined oil products in all 48 states.

Condition: Coupons have almost detached. Will frame nicely. Rare piece.

Specimen stock certificates are certificates that were archived by printers and the company as perfect examples of the company’s stock issue. Specimen’s can be identified by their “specimen” stamp, stamped holes spelling “specimen”, or they are often issued with a serial number of a series of zeros. Often, they are also issued with no serial number at all. Specimens can also represent a design that was never issued. All of these attributes make the specimen stock certificate rarer than the issued version of the share. Many enthusiasts collect specimens as a whole new category of Scripophily.