Serial numbers may vary. UNCANCELLED CENTURY OLD LUNG TSING U-HAI RAILWAY BOND(S) GUARANTEED BY THE CHINESE GOVERNMENT! These are the originals in mint condition. The Lung Tsing U Hai Railway is one of the most famous railroads of China. Lung-Tsing-U-Hai means KANSUH to SEA RAILWAY which ran between Lanchow-Fu and Haichow. These bonds were issued in 1920-23 to finance its construction, the redemption of the Pien Lo Railway Loans of 1905 and 1907 as well as improvements to the Haichow port. The loan was secured by the railroad’s revenues and was a direct obligation of the Government of the Republic of China. Note that fully issued uncancelled bonds like this one are potentially redeemable. China failed to pay interest beginning in 1939 due to the invasion and occupation of northern China by Japan. The bonds have all the un redeemed interest coupons from 1939 on! The principle value of the bond has also not been redeemed. China permanently defaulted in 1949 when the Communists overthrew the Nationalist Government and established the People’s Republic of China. However, the bonds are legally still due and owing by China as per Basel 5 an international debt convention held in Switzerland, and there is litigation underway to make China pay. Bond holders have the ear of Donald J Trump who supports the repayment of Chinese debt as a condition of its being able to sell its U. Treasury bonds China owns about 25% of our Treasury Debt! China maintains that Taiwan, the successor of The Republic of China, owes the debt. However, at the same time it insists the Taiwan is a part of China. It can’t have it both ways forever. These are the lowest price Lung Tsing Uhai Railway bonds. Even if they aren’t redeemed it’s likely they will appreciate in value as a collectible due to their great rarity and controversial geopolitical/financial status. The item “1 LUNG TSING UHAI CHINA RWY BOND w MASTER TALON, 42 COUPS, RARE BANK CERTIFICATE” is in sale since Thursday, October 1, 2020. This item is in the category “Coins & Paper Money\Stocks & Bonds, Scripophily\Government & War Bonds”. The seller is “collect-a-thon” and is located in New York, New York. This item can be shipped worldwide.
- Country/Region of Manufacture: China
- Circulated/Uncirculated: Nearly Uncirculated