How to sell stock?

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Hunter123
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Joined: Sat Dec 03, 2016 11:54 pm

How to sell stock?

Post by Hunter123 » Thu Oct 05, 2017 10:07 am

I have a paper certificate for a small amount of inexpensive stock. All my other investments are in retirement accounts through employer, I have no brokerage accounts or experience selling/buying stocks directly. If I decide to sell the stock, what is the easiest way to go about it? Do I have to open a brokerage acct just for this one small transaction? Sorry for the dumb question but what's the easiest way for a one time small stock sell?

Jack FFR1846
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Re: How to sell stock?

Post by Jack FFR1846 » Thu Oct 05, 2017 10:13 am

What I would do: Walk into a Fidelity office. Ask them how to sell the stock. If you need to open an account to do it, go ahead and open an account. Perhaps put whatever funds result from the stock sale into your new account and buy some Fidelity index funds.

You could do the same with Schwab or TDAmeritrade as they all have offices. If you just want the cash, there's Scottrade. (trying to think of other stock trading companies I drive by regularly).
Bogle: Smart Beta is stupid

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Pajamas
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Re: How to sell stock?

Post by Pajamas » Thu Oct 05, 2017 10:15 am

The easiest way would probably be to open a brokerage account and deposit the shares, but you could also contact the transfer agent for the company and ask if they can handle the transaction for you. You can find the information on the company's website in the investor relations section or just google "name of company transfer agent".

If the stock is not worth much, fees for selling and for maintaining an account would probably eat up much of the value going through a brokerage firm. I don't know if the transfer agent would charge a fee or not.

alex_686
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Re: How to sell stock?

Post by alex_686 » Thu Oct 05, 2017 10:16 am

Hunter123 wrote:
Thu Oct 05, 2017 10:07 am
Do I have to open a brokerage acct just for this one small transaction?
Yes. Then you need to convert the paper shares over to book entry at your new broker. Expect this to take 60 days. It could go faster or longer. If the shares are not in your name (trust, one of the owners are dead, etc.) expect to fill out the paper work 2 or 3 times.

RudyS
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Re: How to sell stock?

Post by RudyS » Thu Oct 05, 2017 10:47 am

If you are so inclined, you might consider donating it to a charity. Depending on the value involved, many charitable organizations would be glad to take it off your hands. That would also save you a bit of hassle at tax time (such as determining basis) .

Hunter123
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Joined: Sat Dec 03, 2016 11:54 pm

Re: How to sell stock?

Post by Hunter123 » Thu Oct 05, 2017 11:32 am

Thanks for the advice! Appreciate it!

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