I just received the latest offering from Matthias Schmitt's company HWPH Historisches Wertpapierhaus. Auction 11 will be held at Schloss Montabaur (Castle of Montabaur) in Montabaur, Germany November 8 and 9, 2008.

As usual, the huge HWPH catalog is a full-color work of art. Essentially all of the 2207 lots are illustrated in color with over 100 lots from U.S. and North American companies. In addition to the catalog, you may examine all lots online. From the home page, click on the "auktionen" link at the left to see the entire catalog.

Herr Schmitt has been a long-time contributor to my project and I always look forward to his offerings. HWPH charges the typical 15% commission rate plus the unavoidable European value added tax (on the commission only). Counting commission and VAT, plan on paying 19.85% on top of your bid amount. Fortunately, the U.S. dollar has risen substantially relative to the Euro in the last couple months, so the penalty to American buyers is decreasing. HWPH takes PayPal, so international payment is now extremely easy. (Feel free to communicate with HWPH in English with any questions you may have.)

Please contact the HWPH Historisches Wertpapierhau AG for a catalog or bidding instructions.