Ask Kim
Old Stock Certificates may Still Have Value
I came across an old stock certificate my grandfather purchased in 1919 and am trying to find out whether it has any value. Do you know of any good resources that can help me with my search?
By Kimberly Lankford, Contributing Editor, Kiplinger's Personal Finance
November 8, 2004
I came across an old stock certificate my grandfather purchased in 1919 and am trying to find out whether it has any value. Do you know of any good resources that can help me with my search?
There are several, but the good ones aren't free. However, you could strike gold if the research determines your company has merged or changed its name over the years.
Stock Search International, which has been around since 1969, charges $85 to research the company's history and determine whether your stock certificate has any value. If they've already researched that company, you can access the information from their database of 40,000 completed reports for $40.
OldCompany.com will charge $39.95 per report to tell you know what happened to the company and how to get in touch with them. There's no fee if they can't track down that information.
There's a good chance the company has merged or changed names and still exists in some form (especially if it's a bank) or even emerged from bankruptcy with enough money to pay off investors. Pierre Bonneau, CEO of Stock Search International, says some of the most valuable old certificates come from mining and oil companies, which may still own valuable property even if they no longer do business under their old name.
After you track down the certificate's value, it isn't always easy to get your money. "The direct heirs will have the best luck," says Bob Kerstein, a long-time stock collector who runs OldCompany.com. Still, it may take a lot of paperwork and phone calls to get paid.
Stock Search International will help you recover the money in return for a 20% cut.
Stocks that aren't worth anything as investments may still have value as collectibles, especially if they have attractive artwork, are signed by somebody famous or have historical significance.
Kerstein is selling an 1861 American Express stock certificate signed by Henry Wells and William Fargo for $995. He also has an Insider Trading Package for $129.95, which includes a Martha Stewart Living Omnimedia and an ImClone Systems certificate signed by their infamous former CEOs. He'll also provide the wholesale and retail price of the certificate as a collectible when he researches the company.
