Friday, July 12, 2013
£20 Government of the Province of Petchili - Part 1
We have had the pleasure of buying and selling several thousand pieces of Chinese bonds of many types. In this period of over 34 years, we have never seen demand to equal that of the “Petchili” bonds. The degree of enthusiasm related to the speculation of these bonds is truly unprecedented.
It should be made very clear that only the £20 denomination was issued and this should not be confused with the Capitalization of £500,000 Sterling. This lofty amount is simply the total face value of the entire issue of 25,000 bonds.
There was only one type of Petchili and so it should not be confused with other Chinese bonds. There has been a rash of requests for “Super Petchili’s”. It appears that this nickname has been given to the Government of the Chinese Republic 5% Gold Loan of 1913 for the Lung-Tsing-U-Hai Railway, Capitalization of £10 Million.
Petchili’s are now very rare as few pieces enter the marketplace. Prices have risen steadily over the past year and demand is strong.
For more information visit our web site, http://www.glabarre.com, or call George LaBarre at 1-800-717-9529.
George H. LaBarre Galleries - Collectible Stocks and Bonds and Old Stocks and Bonds
A foreign antique stock and bond company.
*Source: Historic Foreign Bonds of China by John M. Thomson (2012)