Overview
This is an authentic government debt instrument issued by the Kingdom of Prussia during the height of the German Empire's industrial expansion.
Identification
Royal Prussian 4% Consolidated State Bond, 500 Mark, c.1882
Photo reference
1 uploaded photo
Story
Issued during the German Empire's rapid industrial expansion, this 1882 bond funded Prussian state infrastructure and railway projects following the Franco-Prussian War.
Maker / Origin
The Prussian State Debt Administration utilized intricate lithography and authorized treasury officials like Michelly to issue these secure sovereign debt instruments to the public.
Condition & Value
Evaluated for physical integrity, the preservation of the paper's original unwashed finish maintains its core collectible baseline, though the absence of its coupon sheet restricts its valuation ceiling.
Full Research
See what it's actually worth.
Sold comps, value drivers, and venue guidance pulled from recent auction results.
Market Analysis
The scripophily market for 1880s Prussian state bonds is highly liquid but heavily saturated, establishing a reliable but flat pricing tier. Direct auction records from specialized houses like Freunde Historischer Wertpapiere (FHW) demonstrate that equivalent 1880s issues consistently clear between $15 and $20 when sold individually or in small lots. While specialist retail galleries may ask $45 to $80 for pristine, high-denomination examples, these figures represent a retail ceiling rather than an auction midpoint. Applying strict structural evaluations, this single 500 Mark document lacks its original 'Talon' (coupon sheet), definitively placing it in the single-replacement valuation lane rather than the premium complete-set category. The $15 to $25 fair market range accurately reflects its status as an incomplete but historically authentic piece trading on open secondary markets.
Value Drivers
▲ Confirmed 1882 issuance date with a historically accurate 1897 interest reduction overprint
▲ Presence of official embossed dry seal and complex anti-forgery lithography
▲ Authentic contemporary signatures from Prussian debt officials, including Michelly
Concerns
▼ Lacks the attached 'Talon' and 'Zinsscheine' (coupon sheet), preventing it from achieving complete-set market premiums
▼ Massive original issuance and high modern survival rate heavily suppresses rarity-based demand
▼ Paper condition (folds, micro-tears, edge wear) acts as a direct penalty to the structural 'original finish' value
Best Venue
eBay or Delcampe
Upside Potential
Professional flattening/conservation and pairing with matching-era coupon sheets to form a historical presentation set.
The upgraded report is now attached to this item.