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Consolidated £3 per Cent and Reduced Annuities, ca. 1782-1832 Trio

Currency:USD Category:Collectibles / Historical Memorabilia Start Price:40.00 USD Estimated At:70.00 - 120.00 USD
Consolidated £3 per Cent and Reduced Annuities, ca. 1782-1832 Trio
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The auction will take place on Wednesday, September 22, 2021 at AIA's office located at 1060 Main St., Suite #202, River Edge, NJ 07661 beginning at 11:00 AM
England..... Lot of 3 pieces, all partially typeset and handwritten: 1782 Consolidated 3% Annuities Certificate, VF condition; 1808 Reduced 3% Annuities Certificate, VF condition; and 1832 Reduced 3 Pounds, 10 Shillings Annuities Certificate, VF condition. In 1751, Parliament passed an act which consolidated all existing British government stocks into a single issue, with a fixed interest rate of 3 percent per annum. These "Consolidated Annuities," also known as consols or perpetual bonds, had no maturity date, and instead were redeemable, on call, by the government. "Reduced Annuities," popularly referred to as three per cent reduced annuities, resulted from the attempt of the British government to capitalize on even lower rates of interest in other markets. This allowed the government to borrow money at a lower total interest rate than would have been otherwise possible. (3) (John E. Herzog Collection)