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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 this 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. I invite you to study the sto-
ries of the 50 bonds and shares and to look for parallels with today’s financial world.
The representatives of Pennsylvania passed a very anticipatory resolution in 1827.
Through a package of infrastructure improvements including canals, dams, locks, low
paths, aqueducts, viaducts, and later railways, they shortened the transport time between
Pennsylvania’s most important economic cities, Pittsburgh and Philadelphia. The industry
in Pittsburgh was supplied with much-needed raw material; furthermore new markets in
the developing territories in the Midwest were accessed thourgh the Ohio River. The mo-
ney collected by the Commonwealth of Pennsylvania evolved positive impacts and vitalised
the economy.
A similar impact had the money given to the Compagnie Universelle du Canal
Maritime de Suez of Ferdinand de Lesseps few decades later. The Suez Canal
shortened the shipping route from Europe to Asia enormously.
The hope to create such positive stimulation to the economy is the reason why
many Central Banks flood the economy with cheap money. This is, however,
only one side of the coin. Without innovative ideas liquidity has no massive im-
pact to the economy. These innovative ideas are mainly in the technology sec-
tor at the moment, where new dominating platforms are almost monopolising
markets (Amazon, Google, Facebook e. g.). But don’t forget, many companies
have no ideas, and many banks have large amounts of money from their custo-
mers and no ideas how to earn money with this money.
Money can create nice things, too: Look at the Stadttheater in St. Gallen, the
Komische Oper in Vienna or the great silent movies Charlie Chaplin created with his Chaplin
Studios. All these projects were most probably never been realised without the money of ven-
turous investors and shareholders. The superb stocks and bonds in our collections remind us
each time: „Money - it depends on what you make of it.“
I invite you to start your own journey through four centuries of financial history. Look out
for parallels to today’s situation. The auction of the 50 highlights will take place on 29 April
2017 starting and 3.00 p.m. in Würzburg. Use this unique opportunity and write your own
chapter of financial history.
Sincerely yours,
Matthias Schmitt
5 % Stock, issued 1835,
to finance the Pennsylvania Canal
Ferdinand de Lesseps and his
company Compagnie Universelle
du Canal de Maritime de Suez
reduced the shipping route
to Asia enormously.