[a. F. coupon, in OF. colpon, copon piece cut off, cutting, whence the earlier Eng. CULPON, colpon, coulpoun slice, cut, piece (of meat, etc.). The latter has come down to coupoun, cowpon, coopin in Sc., but was obs. in English when coupon was reintroduced from mod. French.]
A separable certificate or ticket, of which a series are attached to, and form part of, certain original or principal certificates, in order that they may be severally detached and given up as required.
a. One of a set of certificates attached to a bond running for a term of years, to be detached and presented as successive payments of interest become due to the holder; a separable dividend-warrant. b. One of a series of conjoined tickets issued together, which entitle the holder to certain services rendered in separate instalments, after each of which the corresponding coupon is detached and given up. They are largely issued by Excursion Agencies, so as to facilitate the prepayment in a single fixed sum of the travelling and hotel expenses of a tourist, who then, instead of paying money, gives up the corresponding coupon at each stage of his tour. The name and system of Coupons was introduced by the late Mr. Thomas Cook in 1864.
a. 1822. Cohen, Compendium of Finance, 19. These 212,000 rentes [of the City of Paris] are made to bearer, and divided in coupons of 250 francs each.
1836. Stock Exch. Official List, Oct., 28. Spanish Bonds 5 per Cent. Consolidated … Ditto ex Coupons.
1839. J. J. Wilkinson, Law of Public Funds, 216–7. Dividends on Russian bonds … are payable half-yearly … on presenting the dividend-warrants (coupons) … and on some Dutch bonds by delivery of the coupons.
1860. Bartlett, Dict. Amer., s.v., In the United States, the certificates of State stocks drawing interest are accompanied by coupons, which are small tickets attached to the certificates.
1874. Act 37–8 Vict., c. 3 § 5. The coupons for interest annexed to any debenture shall also pass by delivery.
b. 1864. Cook’s Excursionist, 25 April (Suppl.), The [railway] tickets are … in the shape of small books of coupons. Ibid. (1868), 1 July. The Hotel accommodation coupons … constitute quite a new feature in tourist programmes.
Hence Couponned ppl. a., bearing coupons, having coupons attached.
1881. Echo, 28 June, 1/1. Promissory notes, with or without coupons, or couponned certificates payable to bearer, will be issued for sums of Rs. 500.
