Russian 4 1/2% 1909 dated Russia State Loan Bond with Pass-co Authentication - Uncanceled

187.5 Roubles. Czar Nicholas II-Romanov Dynasty Eagle. Great borders, cornucopias in two corners. In French, English, German. Uncanceled Bond with Pass-co Authentication.

This bond, a 1909 Imperial Russian Government 4½% Loan bond, was issued during Tsar Nicholas II’s reign. It was part of the Russian Empire’s efforts to finance its expanding economy and governmental obligations in the early 20th century. The ornate certificate, titled “Imperial Russian Government”, represents a portion of a larger 525 million-ruble loan authorized by the Russian state. The bond was intended for both domestic and international investors, as evidenced by its denomination in multiple currencies, including Russian rubles, French francs, British pounds sterling, German marks, and Dutch guilders. This reflected the Russian Empire’s deep integration into European financial markets, particularly its reliance on foreign investment from countries like France, which had become one of Russia’s principal creditors by this time.

The specific certificate shown is a bearer bond, meaning ownership belonged to whoever physically possessed the document. It is identified as Series 32, with a face value of 187 rubles 50 kopecks, equivalent to 500 French francs, £19 17 shillings, 404 German marks, or 239 Dutch guilders. The bond carried an annual interest rate of 4½ percent, payable through attached coupons that could be redeemed at designated financial institutions throughout Europe. The elaborate engraved design, featuring the double-headed imperial eagle and intricate floral borders, served both decorative and counterfeiting-prevention purposes.