The State Agricultural Bank was established in 1919 as the Polish State Agricultural Bank, transformed into the State Agricultural Bank in 1921. The bank's object was to supply agriculture with short- and long-term credit. The bank issued mortgage bonds and land reclamation bonds.
The object of the auction is a 7% mortgage bond for 1,000 zlotys in gold (Letter C), converted under the Presidential Decree of November 18, 1938. - changing the interest rate to 5.5%.
7% PBR mortgage bonds converted to 5.5% are rarer than those converted to 4.5%.
Variety with a narrow "No" preceding the numerator.
Retained a sizable portion of the coupon sheet - which is not common or obvious for this issue.
