Chinese Bonds dating from 1898 to 1940

It is fair to say that many of our favorite foreign bonds are the Chinese bonds dating from the late 19th Century to the 1940’s. They are appealing for their fascinating history as well as their impressive graphics. Of course, there has also been much speculation in these bonds due to the hope or anticipation that China would someday pay these old debts. There is no question that prices have risen rather dramatically and excitement in this field has grown. The Chinese have become more and more interested in their heritage in the form of coins, paper money, and recently in stocks and bonds. Such new interest as well as other speculation is likely to cause prices to escalate further.

We now have a very large inventory of Chinese bonds of the most popular types including the following…..

1898 Anglo-German Gold Loan, £25, £50, £100.
1904-07 Chinese Imperial –
Shanghai-Nanking Railway Gold Loans, £100.
1908-10 Imperial Chinese Gov.,Tientsin-Pukow Rwy Loan, £20, £100. 3 Types.
1911 Imperial Chinese Government – Huquang Railway, £20, £100.
1912 Chinese Government Gold Loan, the “CRISP LOAN”, £20, £100, £500, £1,000.
1913 Chinese Republic, Lung-Tsing-U-Hai Railway Gold Loan, £20.
1913 Chinese Republic, Province of Petchili Gold Loan, £20.
1913 Chinese Government, “Reorganisation Gold Loan, £20, £100.
1925 Chinese Government Loan of £6,866.046,10/10. Skoda Loan II,
1937 “Liberty Bonds, $5, $10, $50, $100, $1,000 (and $10,000 which have not been on the market for several years as they are extremely rare).
1938 Republic of China, 27th Year, English face, Chinese back. $5, $10, $50, $100.
1940 Republic of China, 29th Year, Chinese face, English back. $5.

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
http://www.glabarre.com
A foreign antique stock and bond company.

Beware of Fraudulent Chinese Liberty Bonds

Unfortunately there are inferior copies and fraudulent examples of Chinese Liberty bonds. Crude copies and fabrications of the $10,000 exist as well as fantasy pieces of $500,000 and $1,000,000. These high denominations are rather foolish, yet fairly well executed. Of course, they have no value.

There are also 1912 fantasy pieces which read “Certificate of Deposit LIBERTY BOND – THE HONKONG AND SHANGHAI BANKING CORPORATION – This certifies that there have been deposited in the treasury of the REPUBLIC OF CHINA – 1,500 METRIC TONS OF A.U. METAL 999.5 – DATE OF ISSUANCE OCTOBER 12, 1912” These orange, green, and red printed documents were printed in the Philippines for the sole purpose of committing fraud. They are not valid in any way and are not copies of legitimate financial instruments. These should be avoided at all cost. It is truly bazaar that there has been active demand for such nonsense.

It should always be stressed that we sell these bonds for their historical, graphic, and collectible merits only. We always make it clear (though these bonds are uncancelled) that all Chinese bonds are not negotiable. On the other hand, these are the very same bonds that are so sought after and popular. There is absolutely no difference. We sell all these Chinese bonds with accompanying PASS-CO authentications.

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
http://www.glabarre.com
A foreign antique stock and bond company.


*Source: Historic Foreign Bonds of China by John M. Thomson (2012)

Republic of China Liberty Bonds

The Republic of China was founded in 1912 and it governed mainland China until 1949, when it lost the mainland

during the Chinese Civil War and withdrew to Taiwan. In 1937 in the 26th Year of the founding of the Republic, “Liberty Bonds” were issued in denominations of $5, $10, $50, $100, $1,000, and the $10,000.

Not one example of the $10,000 denomination has been reported on the market in about 5 years.

The set of 5 denominations of the $5, $10, $50, $100, and the rare $1,000 is sometimes referred to as an “Excalero” suite, or set. The demand for this set is exceptional and the single $1,000 is the backbone of the set. We sell sets and singles of these popular bonds.

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
http://www.glabarre.com
A foreign antique stock and bond company.


*Source: Historic Foreign Bonds of China by John M. Thomson (2012)

£20 Government of the Province of Petchili - Part 2

The following brief history is from “Historic Foreign Bonds of China” published in 2012 by John M. Thomson.
The loan was, “Created by virtue of a resolution of the Assembly of the Province of Petchili. By agreement entered into on the 27th January 1913, the Government of the Chinese Republic has sanctioned the above mentioned resolution by guaranteeing absolutely and unconditionally the punctual payment of principal and interest of the present loan”.

The participating financial institution was the Banque de Reports, de Fonds Publics et de Depots. Bearer bonds were floated in both Brussels and Antwerp.

The purpose of the loan was for public works and improvements to be executed in the Province of Petchili. The loan was secured upon a first mortgage on taxes collected and raised by the Province of Petchili on wine and tobacco yields with an additional guarantee from the central government of the Republic of China. Coupons were payable on 1st February and 1st August each year.

It should always be stressed that we sell these bonds for their historical, graphic, and collectible merits only. We always make it clear (though these bonds are uncanceled) that all Chinese bonds are not negotiable. On the other hand, these are the very same bonds that are so sought after and popular. There is absolutely no difference. We sell all these Chinese bonds with accompanying PASS-CO authentications.

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
http://www.glabarre.com
A foreign antique stock and bond company.


*Source: Historic Foreign Bonds of China by John M. Thomson (2012)

£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
http://www.glabarre.com
A foreign antique stock and bond company.


*Source: Historic Foreign Bonds of China by John M. Thomson (2012)

£20 Government of the Province of Petchili

£20 Government of the Province of Petchili. 

Republic of China Bond. Government of the Province of Petchili of £500,000 Sterling, 5 1/2% Gold Loan of 1913.

Bond for £20 to Bearer. PASS-CO authenticated.

PRICE ON REQUEST
Condition: Excellent

Country: China
Year: 1913

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
http://www.glabarre.com
A foreign antique stock and bond company.

$5 27th Year Gold Loan of the Republic of China

$5 27th Year Gold Loan of the Republic of China. $5 United States Dollar Bond.

PRICE UPON REQUEST
Condition: Excellent

Country: China
Year: 1938  

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
http://www.glabarre.com
A foreign antique stock and bond company.

Chinese Government Gold Loan of 1912 known as the "Crisp Loan" Rare £500

"Crisp Loan" - Chinese Government Gold Loan of 1912

£500, 5% Uncancelled Gold Bond. This issue is known as the "Crisp Loan". 28 Coupons remain. Very Rare and in great demand.

Price on Request.
Condition: Excellent 

Country: China
Year: 1912

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
http://www.glabarre.com
A foreign antique stock and bond company.

26th Year of Republic of China $10 Liberty Bond

26th Year of Republic of China $10 Liberty Bond
$10 4% Liberty Bond of the Republic of China.

PRICE UPON REQUEST

Condition: Excellent

Country: China

Years: 1937 - 1938

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
http://www.glabarre.com
A foreign antique stock and bond company.

"Crisp Loan" - Chinese Government Gold Loan of 1912

"Crisp Loan" - Chinese Government Gold Loan of 1912

20 Pound, 5%, Gold Bond. Known as the "Crisp Loan".28 coupons remain.

Price on Request.
Condition: Excellent 

Country: China
Year: 1912

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
http://www.glabarre.com
A foreign antique stock and bond company.

26th Year of Republic of China $100 Liberty Bond

26th Year of Republic of China $100 Liberty Bond.

$100 4% Liberty Bond of the Republic of China.

PRICE UPON REQUEST

Condition: Excellent

Country: China
Years: 193 - 1938

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
http://www.glabarre.com
A foreign antique stock and bond company.

Historic Chinese Gold Loan Bonds

"Crisp Loan" - Chinese Government Gold Loan of 1912

Republic of China,  £1,000 Sterling, Chinese Government 5% Gold Loan of 1912 Bond. Known as "Crisp Loan". PASS-CO authenticated.

Price on Request.
Condition: Excellent 

Country: China
Year: 1912

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
http://www.glabarre.com
A foreign antique stock and bond company.

1912 5% Crisp Gold Loan

The Crisp Gold Loan* of 1912 (which has been in default since March 1939) was originally for the sum of £10,000,000 but only £5,000,000 was issued. The loan was constituted as a direct liability ad obligation of the Chinese Government and was secured upon first charge on the surplus of Salt Gabelle (Salt Tax) revenues.

The annual revenues of the Salt Gabelle were estimated at 47,510,000 Kuping Taels (a Kuping Tael was 98% pure silver and weighed 37.313 grams) of which 24,000,000 Taels per annum had already been pledged by law to be spent in a particular way. Coupons were payable annually on March 30 and September 30.

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
http://www.glabarre.com
A foreign antique stock and bond company.

 *Reference: Historic Foreign Bonds of China: A Collector’s Compendium by John M. Thomson.

1913 5% Lung-Tsing-U-Hai Railway Loan - Part Three

The Lung-Tsing-U-Hai Railway Loan of 1913 was secured as principal and interest by a direct obligation of the government of the Republic of China and further secured by a first mortgage security of the Kansuh-to-Sea Railway, its fixed plant, rolling stock, appurtenances and earnings.

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
http://www.glabarre.com
A foreign antique stock and bond company.

*Reference: Historic Foreign Bonds of China: A Collector’s Compendium by John M. Thomson.  

1913 5% Lung-Tsing-U-Hai Railway Loan - Part Two

The purpose of the Lung-Tsing-U-Hai Railway Loan, according to author John M. Thomson,* was for the

•  construction of the Kansuh to Sea Railway (Lung-Tsing-U-Hai ) between Lanchow-fu and Haichow, 
•  redemption of the Pien Lo Railway Loans of 1905 and 1907, 
• development and improvement of the Haichow port, 
• payment of interest due on the loan, and for
• working expenses during the period of construction, which was estimated to last five years from the date of the completion of the surveys.

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
http://www.glabarre.com
A foreign antique stock and bond company.

*Reference: Historic Foreign Bonds of China: A Collector’s Compendium by John M. Thomson.

1913 5% Lung-Tsing-U-Hai Railway Loan - Part One

The Lung-Tsing-U-Hai Railway Loan of 1913 was originally for the sum of £10,000,000 but only £4,000,000 was issued in 1913, according to author John M. Thomson.*

The arrangements for this loan “Did not go according to the original plan and subsequently only 200,000 bonds of denomination £20 were issued in 1913.” The total capital issued was £4,580,380. There were a total of 22,019 bonds issued at £20 denomination with serial numbers running from 20,001 to 249,019. The loan went into default in 1926 and coupons were unpaid from that date.

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
http://www.glabarre.com
A foreign antique stock and bond company.

*Reference: Historic Foreign Bonds of China: A Collector’s Compendium by John M. Thomson.  

29th Year Reconstruction Gold Loan of the Republic of China (1940)

Collectible 29th Year Reconstruction Gold Loan of the Republic of China (1940). 

$5 5% United States Dollar Uncancelled Bond. At least 41 of 54 coupons present.

Price Upon Request

Country: China
Year: 1940

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 Old Stocks and Bonds and Old Stocks and Bonds
http://www.glabarre.com
A foreign antique stock and bond company.

Government of the Chinese Republic Lung-Tsing-U-Hai Railway

Government of the Chinese Republic, 5% GOLD LOAN OF 1913 LUNG-TSING-U-HAI RAILWAY of £10,000,000 Sterling BOND FOR £20 denomination. Also called the Belgian Lanshow Railway Loan. Authorized £10,000,000. But only £4,000,000 were issued in 1913 and offered by the Banque Belge at Fr 461.40 for each Fr 500 or £20 Bond in Brussels and Paris on behalf of the Co. Gen. Chemins de Fer et de Tramways en Chine. For the construction and equipment of a main line (1125 miles) between Lanchow (on the West) and Haichow on the sea (north of the Yantze), utilizing the Pienlo Railway. Number of coupons will vary from 42 to 55 or so.

Titles and Text: Repeated in French and English.
Printer: J. Verschueren, Anvers, Belgium.
Size: Large Format, 11x20” plus 10x20”
Coupon at right.

Country: China
Year: 1913
Condition: Excellent

PRICE ON REQUEST
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 Old Stocks and Bonds and Old Stocks and Bonds
http://www.glabarre.com A foreign antique stock and bond company.

Collectible Green Chinese Government Gold Bond

Here is another highly collectible Green Chinese Government Gold Bond

£100, 5%, Gold Bond. Price on Request; call George at 1-800-717-9529

Country: China
Year: 1912

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 Old Stocks and Bonds and Old Stocks and Bonds
http://www.glabarre.com A foreign antique stock and bond company.

Chinese Government Gold Loan of 1912

Chinese Government Gold Loan of 1912 known as the "Crisp Loan" Rare £500.

£500, 5% Uncancelled Gold Bond. This issue is known as the "Crisp Loan". 28 Coupons remain. Very Rare and in great demand. PRICE ON REQUEST.

Country: China
Year: 1912
Condition: Excellent

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 Old Stocks and Bonds and Old Stocks and Bonds
http://www.glabarre.com A foreign antique stock and bond company.