State Treasury Notes — auction comparables · Snaplot Comparables
Comparables
8,718
Median
£72
Suggested estimate
£35 – £220
25–75% range
£34 – £520
Overall range
£2 – £1,314,258
Distribution
Sell-through 100% of lots sold
10% at premier salerooms
Trend↘ falling -48% over 8y
Median by grade
VF
£188 n=19
EF
£231 n=13
Unc (MS60-62)
£188 n=16
Median from 3,196 sold in the last 36 months·hammer prices, excl. buyer's premium — fair-market auction value (retail/insurance replacement runs higher)
8,737 comparables for “State Treasury Notes” · page 332 of 365
· Feb 2026
<b>“Yatzil eschem mikol tzarah u’tzukah… v’yisromem karnchem al bamasei hatzlachah”</b>
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<b>A letter of brachah from the Kedushas Naftali of Melitz</b>
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A heartfelt letter from the ksav yad kodsho of R’ Naftali Horowitz, Av Beis Din of Melitz, Baal Kedushas Naftali, written to his close supporter, the chassidic נגיד R’ Avraham Chaim Frenkel, acknowledging receipt of a pidyon nefesh.
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In the course of the letter, R’ Naftali writes candidly about his weakened state, and sharply criticizes the
<b> “rofe’im sheker, ohavei mammon, ” </b>who, in the name of healing, were pressuring him to curtail his avodas Hashem —
<b> “a path which only further saps my strength.”</b>
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He concludes with warm brachos:
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<b>“Yatzil eschem mikol tzarah u’tzukah, mikol nega u’machalah, v’yisromem karnchem al bamasei hatzlachah.”</b>
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At the beginning of the letter, R’ Naftali notes that he received the earlier correspondence while in Vienna. It is known that he was niftar in Vienna at the end of World War I. The letter is dated Parshas Pekudei, shortly before Nissan, and R’ Naftali was niftar on 18 Tishrei —
<b>indicating that this letter was written during the final year of his life!</b>
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<b>R’ Naftali Horowitz of Melitz </b>(1845–1916) was third in the Melitz dynasty, a gaon and tzaddik known for his חריפות and for the mofsim attributed to him. A great-grandson of R’ Naftali of Ropshitz, he was a close talmid of the Divrei Chaim of Sanz and of the Guter Yid of Neustadt.
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He first married into the family of the Divrei Chaim and R’ Eliezer of Dzikov, and later married the daughter of the prominent Sanzer chassid R’ Abish Konner of Sanok. From 1868 he served as Rav of Melitz at the recommendation of his zeide, the Divrei Chaim, who wrote to the townspeople
<b>that during his tenure “no shod v’shever will be heard in your city.” </b>After his father’s petirah, he assumed the position of Av Beis Din, and many became attached to him as chassidim. During the war years he fled to Vienna, where he was niftar. His Torah was later printed in the sefer Kedushas Naftali on the Torah.
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<p><span style="color:#9C0000"><strong>(GERMANY).</strong></span></p>
<p><span style="color:#9C0000"><strong><br /></strong></span></p>
<p>Edikt, betreffend die bürgerlichen Verhältnisse der Juden in dem Preußischen Staate. Vom 11ten Maerz 1812. Part of: Gesetzes-Sammlung für die Königlichen Preußischen Staaten, no. 5 (no. 80).</p>
<p><span style="color:#9C0000"><strong>* Bound with: </strong></span></p>
<p>Königlicher Befehl wegen nicht mehr statt findender Mitveräusserung der Jurisdiktion bei den Domainen und geistlichen Gütern. Vom 20sten Februar 1812. Part of: Gesetzes-Sammlung für die Königlichen. Preußischen Staaten, no. 5 (no. 81).<br /></p>
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<p> <span style="color:#9C0000"><strong>Two German Edicts. </strong></span>pp. 6 and pp. 1. Foxed, marginal ink notes in a contemporary hand. Unbound, spine reinforced with paper strip. 8vo.</p>
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<p><b>Berlin, 11th March, 1812.</b></p>
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<p> <span style="color:#9C0000"><strong>A landmark legal decree concerning Jewish rights.</strong></span> </p>
<p> This emancipation edict issued by King Friedrich Wilhelm III (1770-1840) in 1812, addresses the civil status of Jews within the Prussian state. The edict granted nearly thirty thousand Jews in Prussian territories almost identical civil rights as the Christian population.<br /></p>
<p> All protected Jews within Friedrich Wilhelm’s domains were declared native residents (“Einländer”) and Prussian citizens. Those obtaining citizenship were required to select permanent family names within six months and conduct their economic affairs in the German language, including contracts and business records, and signing their names in Latin or German script. No further prerequisites were imposed.<br /></p>
<p> Following Prussia’s defeat at Jena in 1806 and subsequent territorial losses, the government embarked on comprehensive reforms deemed essential for the state’s survival. These reforms spanned military, administrative, agricultural, economic, and municipal spheres. The primary objective, however, was to dismantle the authority of the estates and establish a society of free citizens.<br /></p>
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<p> A pivotal aspect of Prussian reform was the pursuit of civic equality for Jews culminating in the 1812 edict. </p>
<p> Jews were accorded nearly identical rights as Christians, including residency options, eligibility for teaching positions in educational institutions, unrestricted engagement in trade, and more. Foreign Jews could settle in Prussia upon acquiring citizenship, though they were permitted entry for travel and trade even without it. However, prohibitions on holding public office and complete military service persisted, with the king reserving the right to amend these aspects of the law in the future, despite strong advocacy for full Jewish emancipation by figures like his state chancellor, Karl August von Hardenberg, and other liberal officials.<br /></p>
<p> Although equality in these domains remained largely unfulfilled for decades, <span style="color: rgb(156, 0, 0);"><strong>the edict stands as one of the most significant legislative acts of its time in German states</strong></span> not under French rule. It was applicable solely to the four provinces under Prussian dominion in 1812: Brandenburg, Pomerania, Silesia, and East Prussia. In other Prussian provinces, such as Posen, at least twenty-two laws concerning Jewish status remained in force, leading to a complex array of restrictions for Jews.<br /></p>
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<p> <span style="color:#9C0000"><strong> References:</strong></span> </p>
<p> Irene A. Diekmann, ed., Das Emanzipationsedikt von 1812 in Preußen: Der lange Weg der Juden zu „Einländern“ und „preußischen Staatsbürgern“ (De Gruyter, 2013).<br /></p>
<p> David Sorkin, Jewish Emancipation: A History Across Five Centuries (Princeton University Press, 2021).<br /></p>