Two representatives of the New York stock exchange were in Utrecht this week, to pick up a some €300 in cash, payable on a 400 year-old bond issued to pay for repairs to a dyke.

The bond, said to be the oldest in the world, was issued on December 10, 1624, to fund flood defences after a dyke breach in January that year.

“The Leydijk broke more often, but this time the water reached Amsterdam, so it needed to be repaired,” said Jeroen Haan, dijkgraaf at the Stichtse Rijnland water board. “And that needed money.”

Bond holders are entitled to interest on their loans, in this case 2.5% on 1,200 Carolus guilders – or the grand sum of €13.64 a year.

The bond was given to the New York exchange 100 years ago by trader. “It really is so exciting being part of history and seeing it action,” NYSE representative Peter Asch told RTV Utrecht.

New Yorkers in Utrecht om eeuwenoude lening te innen: en om dit bedrag gaat het https://t.co/BILApRN5f9

— RTV Utrecht (@rtvutrecht) December 10, 2024

“I’m here with a living piece of history, not just a piece of paper,” said his colleague David D’Onofrio. “It is a bond that is still paying interest on a dyke that is still in use today.”

The bond entitles the holder to €13.64 a year and was last paid out 22 years ago. Asch and D’Onofrio have donated the money to the village museum in Tull en ’t Waal to keep the history of the dyke breach alive.

“We know there are still seven bonds out there, and we know where five of them are,” said Haan. “So if you have one in your attic, they are still paying out.”