1924 German External Loan – £100 Gold Bond – Dawes Loan – With PASSCO Certificate of Authentication

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Product Details: 

11924 German External Loan – £100 Gold Bond – Dawes Loan With Coupons

PASSCO CERTIFICATE OF AUTHENTICATION

🇩🇪 1924 German External Loan – £100 Gold Bond – Dawes Loan – PASS-CO Authenticated

The 1924 German External Loan – 7% Gold Dawes Bond – £100 Sterling is an exceptional historic financial instrument issued during Germany’s economic reconstruction following World War I. This original bearer bond represents one of the most significant international debt offerings of the early twentieth century and remains highly sought after by collectors of historic bonds, scripophily, and financial history artifacts.

🏛️ Historical Context

Following World War I, the Treaty of Versailles (1919) imposed substantial reparations obligations on Germany. By 1923–1924, the German economy had entered a period of severe instability and hyperinflation.

To restore confidence and stabilize the country’s finances, the Dawes Plan was introduced in 1924 under the leadership of American banker Charles G. Dawes.

The Dawes Plan:

• Restructured Germany’s reparations obligations
• Helped stabilize the German economy
• Encouraged international investment
• Was financed through the internationally issued German External Loan of 1924

💷 Key Features of the Bond

Official Name: German External Loan of 1924 – 7% Gold Bond
Denomination: £100 Sterling
Interest Rate: 7% annual interest
Type: Bearer Bond
Issuer: German Government (Deutsches Reich / Weimar Republic)
Issue Year: 1924
Maturity: Originally due in 1949
Authentication: PASS-CO Authenticated
Languages: English • German • French
Purpose: Support Germany’s reconstruction and international financial stabilization

🌐 International Banking Backing

The 1924 German External Loan became one of the largest international financing operations of its time and was supported by leading global banking institutions, including:

• J.P. Morgan & Co. (USA)
• N M Rothschild & Sons (United Kingdom)
• Kuhn, Loeb & Co.
• Credit Lyonnais
• Additional European and American banking syndicates

This broad international participation reinforced investor confidence and made the Dawes Loan a landmark event in global finance.

📜 Historical Significance

This bond is directly connected to one of the most important economic recovery programs of the twentieth century.

During the 1930s, Germany suspended payments on many international obligations, and these securities ultimately became part of the history of defaulted sovereign debt.

Today, surviving examples are preserved and collected for their:

✔ Historical importance
✔ Museum-quality engraved design
✔ Connection to European and world financial history
✔ Rarity and collectible appeal

🔍 Authentication & Condition

This original historic certificate has been PASS-CO Authenticated, offering additional confidence regarding authenticity and provenance.

Please review all photographs carefully to evaluate:

• Paper preservation
• Original folds and handling marks
• Overall collectible condition

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- American Numismatic Association
- PMG