Now on view
The Birth of the Stock Market
From a medieval French mill cooperative to the first securities price-lists of Amsterdam — six documents tracing how the idea of a tradable share was invented on paper.
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Collection highlights
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Great Ming Circulating Treasure Note
One of the world’s earliest paper currencies — and an early lesson in inflation.
1375
Republic of Bolivia “Un Mil” bearer bond
A young republic borrows abroad to rescue its own debased silver coinage.
1870
Hotel Waldorf-Astoria specimen share
The engraved stock behind one of America’s most celebrated hotels.
c. 1930
In the news
Yale Alumni Magazine
Infinity Has a Price
A 375-year-old Dutch perpetual bond owned by Yale still pays interest — a testament to the ingenuity of early financial instruments.
Yale School of ManagementAn Analysis of the 1959 Sednaoui Share Certificate
An Egyptian department store stock certificate reveals a story of mercantile success and state nationalization under Nasser.
Yale InsightsBeauty, Power, Art, and Finance
How art, money, and power have historically intertwined — from establishing social hierarchy to generating speculative bubbles.