Saturday, February 13, 2016

Archives International Auctions - part XXXI

Lot 397 Confederate States Bond 500 Pounds - 12,500 Francs.
"Erlanger Cotton" Loan, 1863
Emile Erlanger & Co., a French finance and investment company, 
tried to raise a $15,000,000 loan in Europe for the Confederate States. 
Because of the American Civil War, Confederate currency had practically 
become worthless in Europe. To make the loan attractive to buyers, 
the bond could be converted into a pre-specified quantity of cotton
 ... which was located in the Confederacy. 
As the Union tried to cut off all the Confederacy's overseas trading. 
this was a challenge but also an opportunity for a blockade runner.
Start price $280.

Archives International Part XXXI
U.S. & Worldwide Banknotes, 
Scripophily & Security Printing Ephemera

  • Date : Feb 23, 2016
  • Place : Fort Lee, NJ 
  • Further info : see here


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