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Universal Tontine, Ipswitch, County of Suffolk 1827 Issue.

Currency:USD Category:Coins & Paper Money / Stock & Bond - Certificates Start Price:240.00 USD Estimated At:400.00 - 800.00 USD
Universal Tontine, Ipswitch, County of Suffolk 1827 Issue.

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Auction Date:2011 Oct 21 @ 20:00 (UTC-4 : AST/EDT)
Location:India House, One Hanover Square, New York, New York, 10004, United States
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The auction will take place at the 3 WEST CLUB at 3 W. 51st Street (at Fifth Avenue), New York, NY 10019
Ipswich, County of Suffolk, England, 1827, 1 Share, Issued Tontine, Cert.# 261, “By Constitution Deed Bearing Date 25th January, 1790 “, Signed by the directors Dykes Alexander, Samuel Alexander and Thomas Crawly, Printed on 8.5 by 6.5 piece of paper in black, Spight splitting at vertical fold on top and light foxing but very attractive and historic document. A Tontine was an investment scheme that would pool a group of investors money together with each investor owning one share of the Tontine and split all dividends yearly on an equal basis until a shareholder dies and then his share would become worthless and his equity and dividend would be split with the surviving Tontine shareholders. The Tontine would be liquidated when a certain number of survivors were left. The New York Stock Exchange had its origination based on the Tontine Coffee House in New York which was located on Wall and Water Street. The Tontine Coffee House was founded with 203 original members in 1790 and was dissolved in 1870. Rare English Tontine certificate which was established in 1790, the same year as the Tontine Coffee House in NYC was formed. VF condition.