I remember learning about UK consols in my finance class when we were discussing perpetuities. Consols apparently still exist and pay 2.5% perpetually. If I could buy a small one, I think it would be neat to have as a novelty.

All my searching for a place to purchase one led nowhere, however. I'm in the US. Might I need to be in the UK to buy one?

  • Think they paid all dem byatches back already. Trust me, if they're still around, they'll bugger you to buy them. – user11865 Apr 3 '14 at 23:23
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    They're perpetuaities. They can't be paid off, they exist perpetually. Apparently the government can call them, but they don't have a maturity date. – user2023861 Apr 4 '14 at 18:59
  • I'm confused as to how they can be paid off. From the perpetuities page on Wikipedia, "A perpetuity is an annuity that has no end, or a stream of cash payments that continues forever". See the "Real Life Examples" section where it mentions UK Consols. – user2023861 Apr 7 '14 at 12:53
  • Oh come on, you're not even trying. ;)) What happens if the UK buys the debts that the UK issued? – user11865 Apr 8 '14 at 18:37
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    Then they would be retired. That's not the same as the bonds being paid off. The UK government can't buy a Consol from me if I refuse to sell it to them. I can just keep collecting my 2.5% forever. – user2023861 Apr 9 '14 at 19:18

Selftrade does list them.

Not sure if you'll be able to sign up from the US though, particularly given the FATCA issues.

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