DALLAS--Robert Noblitt thinks he may have the ultimate zero coupon bond.

While rummaging through a family chest recently in their Oklahoma home, Mr. Noblitt's grandparents found a $10 bond believed to have been issued by the Republic of Texas on Nov. 1, 1838, which bears the signature of its president, Sam Houston.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.