5
Abkürzungen / Abbreviations
Abkürzungen und Ihre Bedeutung:
Abb.
= Abbildung = Picture
AG
= Aktiengesellschaft = Joint-stock company
Faks
. = Faksimile-Unterschrift = printed signature
Nr.
= # = Nummer = number
o. D.
= ohne Datum = without date
o. Nr.
= ohne Nummer = without number
RM
= Reichsmark = reichsmark (old German Currency)
OU
= Original-Unterschrift = original signature
KB
= Kuponbogen = all coupons
KR
= Kuponreste = rest of coupons
DB
= Doppelplatt = double sheet of paper
RB
= Reichsbankschatz = Reichsbank Hort
Maße:
Alle Maße sind in cm in der Form Höhe mal Breite angegeben.
All measures mean hight x width (1 cm = 0,3937 inch).
Erhaltungsgrade:
UNC
= uncirculated, neuwertig, vollständig erhalten, ungefaltet,
außer zwischen Mantel und Kuponbogen, Papier sauber (ohne
Flecken), ungelocht usw.
EF
= extremely fine, außerordentlich fein, fast neuwertig, vorzüg-
licher Zustand, sehr leichte Gebrauchsspuren, im Mantel
höchstens einmal gefaltet (dies darf nicht zu streng genommen
werden, denn da die meisten US-Bonds großformatig sind,
wurden sie auf Westentaschenformat gefaltet, dies stellt aber
keine Wertminderung dar).
VF
= very fine, sehr fein, gefaltet, mittlere Gebrauchsspuren,
schwach gefleckt, kleinere Randeinrisse, Klammerlochungen usw.
F
= fine, stärkere Gebrauchsspuren, mehrmals gefaltet, mäßig
starke Flecken, leichte Risse sowie kleinere Fehlstellen in der Falz
möglich usw.
Introduction
We welcome you to our journey through four centuries of financial history. In the cata-
logue at hand we present the 50 finest, most interesting, for the economic development
most important and rarest stocks and bonds of our auction. The offered stocks and bonds
helped to finance bold projects, helped to make visions come true and influenced the
course of history. All offered stocks and bonds were needed to finance these projects. Be-
hind them were venturous investors on the one hand and entrepreneurs willing to take
risks on the other hand.
All these risky projects could be financed, because the risks were spread to many shoul-
ders. The share certificate of the Real Compañia Guipuzcoana de Caracas, issued in 1760,
is a nice example for that: It was the first larger trading company in Spain operating as
a stock corporation. The dangerous journeys started in San Sebastian and provided the
Spanish province Venezuela with goods from the kingdom. On the way back the ships
transported products from Venezuela, especially cocoa. Beside San Sebastian the ships also
landed in Sevilla and Cádiz. For a single ship owner the risk of such an enterprise would
have been much too high. But by means of a joint-stock company the risks were spread to
not only one, but more ships and to several shareholders.
Old stocks and bonds are documenting confidence and mistrust. A good example for con-
fidence is Thomas Alva Edison who financed the exploitation of his inventions by issuing
stocks and bonds for companies holding the patents. Mistrust we can see at a bond of the
Robert Bosch AG. It was no mistrust against the company, but against the currency. The
bond was denominated in US-Dollar. Because of the hyperinflation of 1923 many investors
lost money in German bonds which were denominated in German Marks.
The design of a stock or bond certificate was very important. The certificate
advertised an investment in the company. Therefore many companies engaged
well known artists to design their security certificates. The Czech artist Alfons
Mucha, for example, designed the stock and bond certificates of the French
department store Paris-France. Attractive design is also an indication for stocks
and bonds of zoological gardens. They addressed rich people to donate money
for the non-profit organizations. This is the reason why famous autographs can
often be find on such decorative certificates.
With this we are at the end of our little journey through four centuries of fi-
nancial history. We sincerely invite you to the auction of these 50 contemporary
witnesses of the bull and bear markets. The auction will take place on 26 Octo-
ber 2013 starting at 1.30 p.m. in Wiesbaden. Use this unique opportunity and
write your own chapter of financial history.
Sincerely yours,
Matthias Schmitt
Robert Bosch AG, bond issued in
1926: After hyperinflation, investors
only bought bonds, if they were
denominted in a stable currency.
The share certificate of the Eidgenoessische Bank from
Zurich is a nice artwork.
