Heh. Back in Macworld Boston 1996, I bought one share of Apple stock at $16 and got a framed commemorative stock certificate. It went into a box when I moved later that year and I completely forgot about until I found it a couple of weeks ago. It's worth almost $1,000 now!
Unfortunately the state seized it as abandoned property (I moved a couple of times since and I never updated my address with the stock transfer agent) and I'm in the process of trying to reclaim the stock now. :(
Pardon me for not being very knowledgeable about the laws regarding stocks, but you have the certificate... Isn't that your proof?
I mean...don't people keep stock certs in safety deposit boxes and soforth? Does the sec mail you ever year asking if your heart is still beating or something?
Which is exactly the question I asked of the transfer agent, but it seems that if the TA can't get in contact with you over a certain period, they can consider the stock "abandoned".
Since I actually have the certificate (well, not anymore, I had to send in the original certificate to the state as proof of ownership), getting the stock back is a straightforward process. But until the state relinquishes its claim, the stock certificate literally isn't worth the paper it's printed on.
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Heh. Back in Macworld Boston 1996, I bought one share of Apple stock at $16 and got a framed commemorative stock certificate. It went into a box when I moved later that year and I completely forgot about until I found it a couple of weeks ago. It's worth almost $1,000 now!
Unfortunately the state seized it as abandoned property (I moved a couple of times since and I never updated my address with the stock transfer agent) and I'm in the process of trying to reclaim the stock now. :(
Pardon me for not being very knowledgeable about the laws regarding stocks, but you have the certificate... Isn't that your proof?
I mean...don't people keep stock certs in safety deposit boxes and soforth? Does the sec mail you ever year asking if your heart is still beating or something?
Which is exactly the question I asked of the transfer agent, but it seems that if the TA can't get in contact with you over a certain period, they can consider the stock "abandoned".
Since I actually have the certificate (well, not anymore, I had to send in the original certificate to the state as proof of ownership), getting the stock back is a straightforward process. But until the state relinquishes its claim, the stock certificate literally isn't worth the paper it's printed on.
See http://www.stocktransfer.com/index.cfm?action=shareholders.F...
Actually, it is worth the paper it's printed on.
I disagree. Isn't a blank piece of paper worth slightly more than one with something useless printed on it?
It's probably worth significantly more:
http://www.oldstocks.com/
People pay good money for cancelled stock certificates.