Large-format engraved municipal bond issued by the City of Munich as part of its L1,625,000 Six Per Cent Sterling Bonds loan. Dated Munich, December 1928, this certificate is for L100 and features an ornate blue security border with the Munich arms and municipal emblem at top. Countersigned for identification by Lazard Brothers & Co. Limited, reflecting the role of major London financiers in post-war European capital markets.

A striking piece of German municipal scripophily and a great companion lot for collectors of city loans, sterling-denominated issues, and Weimar-era financial ephemera. Printed by Waterlow & Sons