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 six centuries of financial history.
In this catalogue at hand we present the 50 finest, most interesting, for the
economic development most important and rarest stocks and bonds of our
auction. I invite you to study the stories of the 50 bonds and shares and to look
for parallels with today’s financial world. Especially the story of the Bank of
England is informative. A group of businessmen performed a miracle at the
end of the 17th century: Within a few years people accepted “small pieces of
paper” as means of exchange in the same way as they did with gold and silver.
Annuities were used as security for these banknotes. By this monetisation of
the English government debt money was created for the economy and it boo-
med. Nobody really thought of paying back the government debt, because this
would have been meant a reduced money supply to the economy.
Look these thoughts familiar to you? Even today there is –
especially in the
Euro-Zone – a discussion if it is better to stimulate the economy or if the
debt has to be paid back first, because of rising interest expenses. In all these
discussions we should never forget, that these “small pieces of paper” or our Credit Cards
only have a value, because our transaction partner trusts in the fact, that he can exchange
then paper for goods or services. What happens, when this trust declines, Germans painful-
ly saw twice in the last century. My grandfather (1909-1986) told me as little child: “Money
is a medium of exchange, no store of purchasing power”. Today, many people never felt real
inflation, they have a basic trust: Money kept always his value. Would this basic trust absent
and would there be a little bit more education in financial history, people would come out
into the streets and would object to the policy of the European Central Bank (ECB).
The offered stocks and bonds are showing us more: Many ideas could only be realised
because of stocks or bonds. American Express, Standard Oil or Linde AG in Germany, all
this companies head genius minds, but they had also access to the capital markets. Wealthy
people supplied them with the money to materialise their projects. And what happens
today? Especially in Germany, medium and smaller companies have only their banks and
insurance companies as source of financial means. Banks are collecting the money from
investors who want to invest save and without risk. But the investments of these financial
institutions are not without risk. The latest financial crises teaches us, that it would be
more stable for the system if people would invest directly. The risk transformation process
of banks and insurance companies makes our system instable and susceptible for crises.
I invite you to start your own journey through six centuries of financial history. Look out
for parallels to today’s situation. The auction of the 50 highlights will take place on 18
October 2014 starting and 2.30 p.m. in Wiesbaden. Use this unique opportunity and write
your own chapter of financial history.
Sincerely yours,
Matthias Schmitt
The port of Haydarpaşa (Istanbul) was
financed by issuing this bond certif-
ciates.
Exchequer Bill of the Bank of England, issued in 1709:
Confidence in the impairment of the issued banknotes
was the basis of the success of the Bank of England.
