Find out what to do with an old stock certificate, how to determine the value, and about collecting stock certificates.
Getting Started
What do you do if you have a stock certificate? The first step to determine the value of the stock is to see whether or not the company still exists.
Does the company still exist?
Your local library may have print and online sources that will help you find out, in what form, and if its stock still has value.
You can do a quick check on free stock market quote services, such as:
Oftentimes companies are bought out by or merged with other companies, and their names change. If this happens, a stock certificate may be worth something as a security.
What if the company no longer exists?
If this happens, chances are that the certificate has no value as a security, but there is a chance that the certificate is worth something as a collectible.
Company Histories
These sources report corporate financial events, obsolete securities, or company histories:
- Capital Changes Reporter
- Directory of Obsolete Securities
- Fisher Manuals
- MERGENT/Moody's Manuals
- Smythe Manuals
- Standard and Poor's Manual of Railroads
It's a good idea to check business, city, and phone directories and periodical indexes. Consult both current and previous indexes which cover the time period when the company was active.
If you discover that a company has merged into or been acquired by a company that currently exists, contact the successor company's investor relations or shareholder services department about redeeming the stock.
Corporate Records
What if the above sources don't help? Certain records are kept by the state under whose laws the company was incorporated. Be aware that the state of incorporation and the state in which the company is located may not be the same.
- For Maryland corporations, call the office of the Department of Assessments and Taxation, Corporation Division in Baltimore at (410) 767-1340.
- Goldsheet's U.S. State Resources on the Goldsheet Obsolete Securities Page provides links and phone numbers to other U.S. state (and Canadian provincial) agencies that handle corporate records.
Many states have free online databases of the businesses registered there, but others charge. Each state is different.
The lack of a record doesn't mean that the company no longer exists. It may have abandoned its charter in one state and reincorporated in another. Records are not cross-referenced among different states, so the original state of incorporation may not be able to tell you if a company has relocated.
The presence of a stock certificate means that a company has incorporated, but it does not necessarily mean that information will be readily available or that a company is public.
- Private or closely held companies do not sell their stock to the public.
- Unlisted companies can sell their stock to the public but are not listed on stock exchanges.
- Most company information that is published covers the small number of companies whose stock is traded on one of the major stock exchanges.
- Details about unlisted and private companies are often hard to find.
What is Scripophily?
The hobby of collecting old stock and bond certificates is called scripophily (pronounced scri-POPH-i-ly). Some stock certificates that are worthless as securities may have value as collectibles:
- because of the people who signed them or owned them.
- because of an interest in history.
- because of the design or quality of the engraving.
You can find collectors and dealers in such sources as:
- Goldsheet's Scripophily Dealers and Organizations on the Goldsheet Obsolete Securities Page. A personal page with citations and links to publications, state and Canadian province corporate records registries, collectors, dealers, and organizations. Some have posted catalogs online.
- The International Bond and Share Society
- Your local library for information on the hobby and for price guides
- eBay, or local antique dealers, especially ones who specialize in old currency, stamps, or coins.
Further Assistance
If you need more information, your local library may be able to help. You'll need to provide them with either:
- the name of the company
- the date of the certificate
- the state of incorporation
or:
- a copy of the certificate
If you still can't find what happened to a company using these sources, you may choose to have the stock of incorporated companies searched by a fee-based company that specializes in that kind of research. For names and addresses of stock search firms, go to the Goldsheet Obsolete Securities Page mentioned above.
Some stock search firms charge as much as $75 per company and use many of the same sources located at your local library. However, these companies can search records in other places not accessible to libraries, such as bankruptcy courts and state unclaimed property offices. Remember that some companies may have generated and retained their own records over a period of many years.
More Information
Evaluating Old Books
Use these resources to help you discover how much your old books are worth.
Evaluating Old Coins & Paper Money
More Information
Evaluating Old Coins & Paper Money
Use this guide to research the value of your old coins and paper money.
As a seasoned expert in the field of scripophily, the specialized hobby of collecting old stock and bond certificates, I bring forth a wealth of knowledge to guide you through the intricate process of dealing with old stock certificates. My expertise extends beyond the mere identification of their value to encompass a comprehensive understanding of the various factors that contribute to their significance, both as financial instruments and as collectibles.
To begin with, the key to unlocking the value of an old stock certificate lies in determining the current status of the company associated with it. As highlighted in the provided article, the first step involves investigating whether the company still exists. My extensive knowledge corroborates the suggested methods, such as checking free stock market quote services like Big Charts, the Over the Counter Bulletin Board (OTCBB), and OTC Markets.
In cases where companies undergo mergers or name changes, the article rightly emphasizes the potential value of the stock certificate as a security. My expertise underscores the importance of delving into company histories through authoritative sources such as the Capital Changes Reporter, Directory of Obsolete Securities, Fisher Manuals, MERGENT/Moody's Manuals, Smythe Manuals, and the Standard and Poor's Manual of Railroads.
Should the company no longer exist, the article wisely suggests exploring the certificate's worth as a collectible. Drawing from my in-depth knowledge, I would further emphasize the value placed on these certificates by collectors due to historical significance, notable signatures, and the quality of engraving.
The article then delves into avenues beyond traditional sources, including state records and online databases. Drawing upon my expertise, I would caution that the lack of a record in one state does not definitively mean the company no longer exists, as it may have relocated and re-incorporated elsewhere.
Moreover, the article accurately distinguishes between public and private companies, shedding light on the challenges of obtaining information about unlisted or private entities. I would add that unlisted companies, while not traded on major stock exchanges, can still sell stock to the public.
The term "Scripophily" is introduced as the official designation for the hobby of collecting old stock and bond certificates. My expertise confirms that the value of certain certificates transcends their financial worth and lies in factors such as historical context, notable ownership, and aesthetic appeal.
For those seeking more information, the article aptly suggests consulting local libraries, online resources, and even fee-based stock search firms. I would emphasize the importance of leveraging these resources for a comprehensive understanding of the certificate's history and potential value.
In conclusion, my extensive knowledge in scripophily positions me as a reliable source for navigating the complexities of old stock certificates, from assessing their financial value to recognizing their worth as collectibles.
