This is an original bond from American Smokeless Coal Company, dated 1901. The fifty-year 5% first mortgage and collateral trust gold bond is printed on cream paper stock in dark green ink with an elaborate ornate border featuring intricate geometric and floral patterns. The design is purely typographic, with the company name displayed in bold decorative lettering across a prominent central banner rather than featuring a pictorial vignette.

American Smokeless Coal Company was incorporated in Arkansas during the height of America's industrial expansion, when the demand for high-quality coal was reaching unprecedented levels. The company was part of the smokeless coal boom that transformed Appalachian regions in the early 1900s, as industries sought cleaner-burning fuel alternatives to traditional bituminous coal. This period saw fierce competition among coal companies to secure the best deposits in Arkansas, West Virginia, and Pennsylvania, with major industrialists like Henry Clay Frick and the Carnegie Steel Company driving demand for premium coal that burned with minimal smoke—essential for urban manufacturing centers. The fifty-year term of this bond reflects the era's optimism about America's industrial future and the long-term value of natural resources. Like many coal ventures of the period, the company likely faced challenges from market consolidation and the eventual shift toward oil and gas energy sources in the mid-20th century.

You will receive a certificate similar to the one shown. While each piece shares the same design and era, slight variations in serial numbers, signatures, and natural aging may occur. This example shows minor age toning consistent with its 120-year age, with crisp borders and clear text throughout, adding authentic character to this early industrial-era document.

Coal company bonds from the turn of the 20th century represent a pivotal moment in American industrial history, when energy companies were laying the foundation for modern manufacturing. The elaborate gold bond designation and fifty-year term reflect the confidence investors placed in America's expanding industrial economy. Offered as a collectible.