33 replies to this topic

[babyblue]

I had a closer look at the bonds and they were issued by the Central Bank of China, not the Bank of China.
did a search and found it is located in Taiwan. I sent them an e-mail and they sent this reply.
So yeah the bonds are no good.

According to "The Measures Governing the Disposal of Chinese Government Bonds Issued in Legal Currency", publicized and effective on September 6, 1948, all such bonds, including Liberty Bonds, should have been presented to agent banks for redemption within the period from October 1, 1948 to April 30, 1949. As the prescribed period has long elapsed, no more repayments will be made on these bonds.

Your understanding is appreciated.


Sincerely Yours,

National Treasury Agency

Ministry of Finance

Republic of China

hahaha....i'm surpised whoever replied u took u seriously...lol
but yeah...i'll keep them anyway if I were you. They look very nice, and since you can't fetch much anyway even if u put it on ebay...

[Centaur]

I had a closer look at the bonds and they were issued by the Central Bank of China, not the Bank of China.
did a search and found it is located in Taiwan. I sent them an e-mail and they sent this reply.
So yeah the bonds are no good.

According to "The Measures Governing the Disposal of Chinese Government Bonds Issued in Legal Currency", publicized and effective on September 6, 1948, all such bonds, including Liberty Bonds, should have been presented to agent banks for redemption within the period from October 1, 1948 to April 30, 1949. As the prescribed period has long elapsed, no more repayments will be made on these bonds.

Your understanding is appreciated.


Sincerely Yours,

National Treasury Agency

Ministry of Finance

Republic of China

Well, it is not all lost. Think of it this way - you still have a piece of history in your hand. How many could could boast that the they have some ancient but expired Liberty Bonds? The value of the item comes from your heart. It's something that your grandfather left you - that should be value enough. It was fun trying to find more about it. I have learnt and I am sure you did too - so the learning process is another hidden value of the Bonds. (OK, I am beginning to sound like Ah Q, but it still fun!)

[snowybeagle]

There's a collectible market for such things.

See http://www.pomexport...WWIIMilSup.html

The 5-yuan China WW2 Liberty Bond is offered at US$32.00
The 10-yuan at US$38.00
The 50-yuan at US$75.00
The 100-yuan at US$55.00

If you want to know its market value, try antique shops, museum, hobby collector's shops and last but not least, eBay.

There's a chance that your ancestor chose not to redeem the bond out of sentimentality, or the notion that he was supporting the war effort of his home country.

[Liang Jieming]

Hehehe that's really interesting!

[sparky]

I learned alot about chinese Canadian history the last few weeks.
not disapointed and definately wouldn't sell it for the $100US it is worth according to that site.

[snowybeagle]

You could consider sounding out a local Chinese heritage museum whether they'd be interested in putting it up for display.

If they do, you might get to list your name (and your grandfather's name) in the museum.

[Liang Jieming]

You could consider sounding out a local Chinese heritage museum whether they'd be interested in putting it up for display.

If they do, you might get to list your name (and your grandfather's name) in the museum.

Just don't sign over the ownership rights to it, unless you don't want it.

[sparky]

there actually no name on them.
I think anyone could have cashed them in at the time.

[Liang Jieming]

You don't need a name on it to have ownership rights but because of that you'll need to be more careful. If you do let a museum display it and assuming you want to retain ownership, you'll need to make sure there is black and white with the museum stating that you retain ownership of the document and they only have display rights to it.

Edited by Liang Jieming, 31 May 2006 - 12:59 AM.

[Centaur]

there actually no name on them.
I think anyone could have cashed them in at the time.

I suppose it might be just that you are destine to receive the bonds instead of it being cashed in earlier.

Good idea to keep it for the time being, you never know when the value would go up. I think LJ was trying to say was that the local museum display the bond, you make sure it is a loan and not an outright gift. You should want the option of getting it back later.

[sparky]

there isn't much demand for chinese history here in Canada. Good idea, but they are going back in the closet with my great grand father's other posessions.

[fsgien]

I had a closer look at the bonds and they were issued by the Central Bank of China, not the Bank of China.
did a search and found it is located in Taiwan. I sent them an e-mail and they sent this reply.
So yeah the bonds are no good.

According to "The Measures Governing the Disposal of Chinese Government Bonds Issued in Legal Currency", publicized and effective on September 6, 1948, all such bonds, including Liberty Bonds, should have been presented to agent banks for redemption within the period from October 1, 1948 to April 30, 1949. As the prescribed period has long elapsed, no more repayments will be made on these bonds.

Your understanding is appreciated.

Sincerely Yours,
National Treasury Agency
Ministry of Finance
Republic of China

L.O.L
if you've read Soong Dynasty by Seagrave
then you'll know what happened to the money for the Liberty bonds
bought by then Wahkiew, now HuaChiao or Huayi

the offspring of those in the Inner Finacial circles of the CBOC
are reaping the fruits of thier Overseas supporters during the Sino-Japanese war

[Durazo]

Hi nice forum you have here.
I was looking through my Great grandfather's old belongings and found serveral Liberty Bonds inssued by the Republic of china. it says it is redeemable at the Bank of China. from my understanding these bonds were sold to raise money for the war. were they redeemable back when it matured? Would I be able to walk into a Bank of China and redeem them today?
I am assuming they are basically worthless as I see some people sell them on Ebay.

any input would be appreciated.

Thanks

Hi, i saw your post and i have some chinese bonds, i got the same response that you got from the bank, but now China mainland are buying these kind of bonds, mine are of 1,099,000,000 Yuans from 1936 and they are buying them if you want i can contact you with the buyers.
Have you sold yours?
Best regards.

[ahxiang]

Hi, i saw your post and i have some chinese bonds, i got the same response that you got from the bank, but now China mainland are buying these kind of bonds, mine are of 1,099,000,000 Yuans from 1936 and they are buying them if you want i can contact you with the buyers.
Have you sold yours?
Best regards.

Majority bonds were issued against revenues of some sort, such as customs or railways. When customs or railways were seized by Japanese, payment was temporarily stopped. After communist takeover, the pledge underneath the bonds were gone, and hence the payment obligation transferred. The other consideration was the seizure of assets at the turn of 1949-1950. At one time the US government was planning to recognize PRC and hence had the bank assets of ROC frozen. One example was the transfer of 50-50 Sino-American venture of CNAC airline transferred to the US (Pan-Am) and Chennault without recourse. The redeem of bonds, as long as the issue was authentic, should be covered by Sino-American treaties.

[Durazo]

Hi, i know some one who is buying that kind of bonds, if you want i can tell you who, how, etc.
Best regards.