Overview
This is a 500 Mark government bond issued by the Kingdom of Prussia, the dominant state of the German Empire, to finance state operations and infrastructure.
Identification
Kingdom of Prussia 4% Consolidated State Bond, 1882
Photo reference
1 uploaded photo
Story
Issued during the rapid industrialization of the German Empire under Otto von Bismarck, this 1882 consolidated bond financed the expansion of Prussian railways and state infrastructure.
Maker / Origin
Administered by the Königliche Hauptverwaltung der Staatsschulden, these bearer bonds were standardized financial instruments signed by standing officials like Michelly and Ramel.
Condition & Value
Because millions of these bonds survived unredeemed following the 1920s hyperinflation, their current market value depends almost entirely on crisp aesthetic preservation and clear typographic provenance.
Full Research
See what it's actually worth.
Sold comps, value drivers, and venue guidance pulled from recent auction results.
Market Analysis
The global scripophily market treats late-19th-century German state bonds as entry-level historical collectibles due to an overwhelming supply that heavily outstrips demand. Direct comparables indicate a strict bifurcation based on the venue of sale. US-based specialty retailers, such as George H. LaBarre Galleries, offer these exact 1882 bonds for $35 to $46 (adjusted), establishing a firm retail ceiling that includes overhead, housing, and curation. Conversely, true secondary market auction outcomes—particularly on European platforms and uncurated peer-to-peer sites—routinely clear between $3 and $15. The presence of specific registrar names, such as Gydis Bering, provides excellent contextual provenance but does not command a distinct monetary premium over standard unassigned bonds of the same era. The $10 to $25 Fair Market Value anchors strictly on realistic auction hammer prices rather than retail gallery ask prices.
Value Drivers
▲ Clear, legible 1897 interest rate reduction stamp (Zinsfuss herabgesetzt auf drei ein halb vom Hundert vom 1. October 1897 ab) validates the historical conversion event.
▲ Verified administrative signatures from state debt officials Michelly and Ramel confirm proper issuance.
▲ Retains distinct period typography and the intricate security engraving characteristic of the Königliche Hauptverwaltung der Staatsschulden.
Concerns
▼ Massive surviving supply from institutional and private archives suppresses long-term investment upside.
▼ Highly dependent on geographic market; European auction clearing prices frequently remain in the single digits due to localized market saturation.
▼ Unredeemed scripophily bonds from the hyperinflation era generally trade purely on decorative/aesthetic merit.
Best Venue
eBay
Upside Potential
Exceptional physical condition (free of hard folds or edge tears) or pairing with original attached coupon sheets (Talons) can drive prices toward the higher retail ceiling.
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