Citation: http://en.wikipedia.org/wiki/Consols http://en.wikipedia.org/wiki/Consols (to save others the search) First issued in 1751. "Consols still exist tod

Citation: http://en.wikipedia.org/wiki/Consols http://en.wikipedia.org/wiki/Consols (to save others the search) First issued in 1751. "Consols still exist today: in their current form as 2½% Consolidated Stock (1923 or after), they remain a small part of the UK Government’s debt portfolio. As the bond has a low coupon, there is little incentive for the government to redeem it. Unlike most gilts, which pay coupons semi-annually, Consols pay coupons four times a year because of their age. As a result of their uncertain redemption dates, they are typically treated as a perpetual bond. ... Given their long history, references to Consols can be found in many places, including literature such as Pride and Prejudice by Jane Austen, David Copperfield by Charles Dickens, Howards End by E. M. Forster, Vanity Fair by William Makepeace Thackeray, Of Human Bondage by William Somerset Maugham and The Forsyte Saga by John Galsworthy and in economics."