Par Value
Bouvier's Law Dictionary and Concise Encyclopedia · John Bouvier; revised by Francis Rawle · 1914
Bouvier's Law Dictionary and Concise Encyclopedia
A current phrase having no other meaning than the value of the pound sterling formerly fixed by law for the purposes of revenue.
Com. v. Haupt, 10 Allen (Mass.) 44.
It is commonly used to indicate the face value of bonds or stock.