Tuesday, December 16, 2014

Archives International Auctions - Hong Kong Winter Auction 2015

Archives International Auctions
Chinese, Asian & Worldwide Banknotes, coins and Scripophily

Hongkong and Shanghai Banking Corporation
1933, Letter of Credit, specimen
See also note below.

This auction contains approximately 50 lots of scripophily

  • Date : 10 January, 2015
  • Place : Hong Kong
  • Further info : see here


The certificate illustrated above is a Letter of Credit, which is a document from a bank guaranteeing that a seller will receive payment as soon as certain delivery conditions have been met. Obviously the use of letters of credit are an important aspect of international trade. Letter of credit certificates belong to the field of scripophily when the latter term is broadly interpreted, see there.
A very interesting case showing the usage of the letter of credit is explained here.

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