Result list 1 April 2017

The results of our April sale will be available here on April 2.

Lotnumber: 1292
LONDON/PARIS. 7% Cotton Loan for £1000=F25.000. Serie A. Cat. Cr.119. black. No 1101. Folds. Very large format with Liberty holding Confederate flag, bales of cotton & the sea. Text in English and French.This is the top denomination bond of the so-called Erlanger Cotton Loan, an issue of confederate bonds by Emile Erlanger & Co. of Paris. As Confederate currency was worthless in Europe, these bonds became the de facto currency used by the South when purchasing ships, supplies and other war material abroad. These bonds were sold in London, Liverpool, Paris, Amsterdam in 1863 and Frankfurt and raised £1,759,894 ($8,535,486). They were redeemable for Confederate government-owned cotton in the Confederacy itself. This last clause was a critical catalyst in stimulating blockade-running, because the holders of Erlanger bonds had to risk the Federal blockade to convert them into a tangible commodity. Criswell type 119/ Ball type 160. Rarity 5.
Themes: CITY & STATE BONDS
FRANCE, GREAT BRITAIN, USA
Date: 1 June 1863
Quality: VF-EF
Startprice: € 800