A fifty-cent bond issued by the self-proclaimed Emperor Norton I of San Francisco, dated October 12, 1878. Printed note reads: “Promises to pay the holder hereof, the sum of Fifty Cents in the year 1880, with interest at 5 per cent per annum, from date, the principal and interest to be convertible, at the option of the holder, at maturity, into 20 year’s 5 per cent Bonds, or payable in Gold Coin. Given under our Royal hand and seal.” Signed “Norton I, Emperor.” This example is No. 7180 and features his portrait at left with ornate borders and a United States Treasury seal design at right. Emperor Norton I remains a beloved folk figure of California history for his eccentric reign and proclamations as Emperor of the United States and Protector of Mexico. Dimensions: 4 ½ x 9 ½ in. Provenance: From the Al and Carol Cali Collection. Pickup & Shipping: Free Sacramento pickup. Shipping via FedEx for $30 + 1.5% insurance (unless waived in writing). Very good overall. Vertical and horizontal fold lines with minor separations at intersections. Expected toning, handling wear, and a few small edge splits.