Saturday, June 27, 2015

Printers : Kelly Print

The share certificate below is printed by Kelly Print from Denver, Colorado. Except for the Colorado state seal, the print looks rather plain. 

Amity Canal, Reservoir and Improvement Company, share certificate from 1891
The Amity Canal, Reservoir and Improvement Co. 
(name as indicated on the embossed seal in the bottom left corner)
Incorporated under the laws of Colorado.
Capital stock $400,000 in shares of $50; issued in 1891.
double-click image to enlarge 

As so often is the case with plain looking certificates, the little hidden details are cheating you. Only when you take your time to have a closer look, you'll be surprised. 

The left and right borders contain two tiny bird vignettes, a dove and a rooster. Both measure only 7 mm each (0.28 inch).

tiny dove vignette measures 7 mm

The paper contains also a nice watermark. By means of some image edits, I was able to make the watermark visible. Double-click the image below, and you can recognize  a large turkey. 

watermark of turkey
Watermark shows 'Turkish Linen' and a turkey.

Kelly Print is not often seen in scripophily. A Colorado certificate of the Rossiter Mining & Milling Company, auctioned as lot 1463 by Holabird's Western American auction #9, was also printed by Kelly Print. Any more information about Kelly Print or certificates printed by this printer is welcome.


Monday, June 15, 2015

Archives International Auctions - New York Summer Auction 2015

Banco Popular
Santiago, Chile, 1910
100 Pesos share, specimen (lot 1040)
In contrast with the eagle, the condor appears rarely on vignettes.
From 1834, the condor comprises, together with a huemul (deer), the coat of arms of Chile. 
In the 1950s Condor and Medio Condor coins were struck (1 Condor = 10 Pesos).

Archives International Auctions 
The Rudolph P. Laubenheimer Master Engraver, Die Sinker & Medailleur Family Archives
This auction includes additional consignments of
 U.S. & Worldwide Banknotes, Coins, Scripophily, Medals & Ephemera

This auction contains approximately about 170 lots of scripophily

  • Date : 25 June, 2015
  • Place : New York
  • Further info : see here


Tuesday, June 9, 2015

Booklet : Münchens Stadtanleihen

Münchens Stadtanleihen
English: Munich City Loans
double-click image to enlarge

  • Title: Münchens Stadtanleihen, in English: Munich City Loans
  • Publisher : Landeshauptstadt München Stadtkämmerei, 2004
  • ID : no ISBN number
  • Languages : German
  • Number of pages : 37
  • Images : more than 40 large color images
  • Index : no index

In 1922 the U.S. dollar rose from 192 German Mark to 420 Mark. Hyperinflation in Germany reached its height in 1923. In November of that year, the city of Munich issued a loan with a principal amount of 96,700,000,000,000 Mark. That sum is pronounced as 96.7 trillion (over here in Europe we say also 96.7 billion).  By the time the loan appeared on the market, one dollar was worth 4,200,000,000,000 Mark.

City of Munich, capital of Bavaria - 1920 bond
Bayer. Landeshauptstadt München - City of Munich, capital of Bavaria
4% Bond of 200 Marks, 1920
Sold at HWPH's 38. Online-Auktion, April 2015 for 22 Euro.
Source: HWPH, see

Munich started to issue loans in 1838 and still does today. In this publication, the certificates are depicted with large images, and discussed in their historical context. In recent times, Munich's "Schmuckanleihen", freely translated: "popular artwork loans", try to charm potential investors all of over the world.

  • Was sind Stadtanleihen ? What are city bonds ?
  • Die Stadtanleihen im 19. und zu Beginn des 20. Jahrhunderts (1838-1921) The city bonds in the 19th and early 20th century (1838-1921)
  • Die Stadtanleihen in der Zeit der Inflation (1922-1923) The city bonds in the period of inflation (1922-1923)
  • Die Stadtanleihen in der Zeit der Rentenmark und der Reichsmark (1923-1948) The city bonds in the period of the RentenMark and the Reichsmark (1923-1948)
  • Die städtischen Auslandsanleihen (1925 und 1928) The municipal foreign loans (1925 and 1928)
  • Die DM-Anleihen der Stadt München (1953-1995) The DM bonds of Munich (1953-1995)
  • Schatzanweisungen und Privatplatzierungen Treasury bonds and private placements
  • Schmuckanleihen, die nie auf den Markt kamen "Artwork bonds" that never appeared on the market

1925 U.S. dollar loan from the city of  Munich
City of Munich, Germany (Landeshauptstadt München)
7 % Serial Gold Bond of $1000, 1925, Series XVI, due 1941
Sold at HWPH's 38. Online-Auktion, April 2015 for 60  Euro.
Source: HWPH, see

A truly interesting booklet, with lots of history and artists. As long as copies are available, you can still request your own from the Munich city council here .