Mortgaging notes of the Russian Empire redeemed by the collector from Russia

Mortgaging note of the Russian Empire with a face value of £500 000. April 30, 1917. Barring’s Bank support

On September 18, the Spink British numismatic auction held the sales Bonds and Share Certificates of the World. The sales featured the unique collection of the Russian mortgaging notes made in 1914-1918 by the London Barings Bank. The lot estimated at £120 000-150 000 was bought by phone by the anonymous collector from Russia. He offered Spink the sum exceeding the estimate in twice – £253 100.

Short-term mortgaging bills were sold in one set which included 67 typical samples of securities totaling 15 000 items. All of them were made during the period of 1914 – 1917 after the Russian Exchequer requested the huge loan at a rate of £400 000 000 from England and France for purchase of weapon and financing of military operations during the First World War. The same year all the sum was given to Russia in a way of the short-term mortgaging notes provided by the Barring’s Bank and the Great Britain National Bank.

Face value of securities which, according to representatives of the auction house are saved in excellent condition makes from £1000 to £500 000. Here the limited circulation, dated to 1917-1918 is of especial interest. Printed in Bradbury Й Wilkinson & Co print shop the securities, probably, were being prepared for transfer when the events of 1917 destroyed the Russian Empire, along with all financial obligations of the state. Some papers have a face value from £1000 to £5000. Thanks to insignificant mortgaging value, they were brought into post offices and provincial banks. These bills have many stamps, signatures and marks. The following group of the bills entitled Government of Russia and the Government of Imperial Russia has high face values, up to £500 000.

In the early 1990s the collection of mortgaging notes of the Russian Empire was divided into two parts. The minor of them, included the bills provided by the National Bank of Great Britain was sold at Christie’s sales in 1991. A set of the bills put up for the sale was purchased by the anonymous collector and had never been exposed any more at the open auction sales.

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Published in: on October 22, 2008 at 8:23 am  Leave a Comment  
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