50 Highlights Teil 2 der 56. Auktion für Historische Wertpapiere Part 2 of the 56th Auction for Old Stocks and Bonds Часть 2-я 56-го аукциона антикварных ценных бумаг

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 five centuries of financial history. In this catalogue at hand we present the 50 finest, most interesting, for the econo- mic development most important and rarest stocks and bonds of our auction. The surprisingly occurred pandemic has accelerated several developments, but it also has created several new trends, and it has changed trends. One of these trends changes affects collecting. During the last decades there was a trend away from physical goods towards experiences. The pandemic has changed this and brought a return. Traveling and dining out were limited or not possible. Suddenly, time was there for reading a good book or to deal with exciting stories of financial history. Many young investors would do well to do this, too, as some stock market caper showed in the last weeks. The money created by central banks makes the same as it did in history: It creates bubbles in the wildest mar- kets. Do you know NIKOLA? The company was worth round about 30 billion US- Dollars, a few days after stock market debut at the beginning of June. At this time NIKOLA was almost valued like BMW, the famous Bavarian car maker. While BMW sells cars for more than 100 billion Euros per year, NIKOLA has not even delivered one truck. Only the hope, that NIKOLA will become a second Tesla, but for oxygen powered trucks instead of electric cars, set investors on ecstasy. But all this happened in history, in the year 1720. Not with tech stocks, but with shares of companies trading with the Far East. The South Sea Company delighted investors. At the time, the London Journal wrote: “The turmoil of our wave makers at the stock market was so big, that it exceeded all of the until now known dimensions. There was just a running from one coffee house to another, from one tavern to the next, to draw shares and to sign them without verifying the brochures. The general call out was ’For God’s sake, let’s draw and sign, it doesn’t matter what!’” Central banks will be the decision maker at the question, when the party is over. The question is, when will (can) they start collecting the XXL-doses of liquidity? Until that happens, we will see many crazy things. The only pitty is that no Scripophily is created any more from these frauds and gambles. There will be no admonitory witness for future generations. I invite you to start your own journey through five centuries of financial hi- story. Look out for parallels to today’s situation. The auction of the 50 highlights will take place on 12 September 2020 starting at 3.30 p.m. in Zorneding. Use this unique opportunity and write your own chapter of financial history. Sincerely yours, Matthias Schmitt Share of the South Sea Company, issued 1720. Share of Monmouthshire Canal Navigation - The Act of Parliament also provided for the company to build„rail ways“, already in the 1790s. Railways were for a long time a prospering industry.