When Robert Noblitt first thought he might be holding an 1838 Republic of Texas bond worth millions, skeptics warned him to watch out for the fine print.

Last week, Texas archivists believe they found the fine print to invalidate Mr. Noblitt's claim that his $10 bond might be worth $6 million -- on a yellowed page of an 1858 report from the state comptroller.

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.