Bank Polski S.A., 2 x 100 zlotys (200 zlotys) 1924 - RARE

format_quoteThe year 2024 will mark the 100th anniversary of the introduction of the zloty into circulation in Poland. The exchange of Polish marks for zlotys began on April 28, 1924, and according to the press of the time, the first person to make the exchange was the wife of the president of the Bank of Poland, "Mrs. Senator Karpinska." Bank Polski S.A. was established as an issuing bank and was to be an entity independent of the State, hence the joint-stock company structure. Subscriptions for shares in the created bank lasted until March 31, 1924, with the denomination of one share set at 100 zlotys, and the entire capital was to be 100 million zlotys. Since the zloty did not come into circulation until April 28, 1924, the subscribers to the shares necessarily did not make their payments in zlotys. Founder's shares, which include the stock presented here, could only be paid in gold coins, gold bars or foreign currencies and foreign currencies according to a fixed parity. At the time the acceptance of subscriptions ended, the number of the bank's shareholders was around 52,000. It would seem that the PLN 200 share offered here would be extremely popular. In fact, it is unique in that in 1934, when the dividend coupons attached to the shares were exhausted, it was decided to exchange the entire share document, rather than just add coupons (the so-called "1934 issue" or sometimes erroneously referred to as "Issue III"). Since the outbreak of war came 5 years later, hence the exchange of almost all of the 1924 founding shares for "1934 issue" shares was managed. As a result, founder's issue shares remain fabulously rare today: the 200 zloty shares including the one offered are known to me as 4 pieces, of the 500 zloty shares I have encountered only one piece, while the 100 zloty shares are a bit more common - I have noted 19 piecesformat_quote