How to sell physical certificate for UK shares to USD?

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bellucci
Posts: 2
Joined: Wed Jun 13, 2018 1:24 pm

How to sell physical certificate for UK shares to USD?

Post by bellucci » Wed Jun 13, 2018 1:42 pm

Hi Bogleheads!

I'm a US citizen based in New York City. I own a bunch of shares in Pearson, the UK company. These shares are for the stock listed on the London exchange, not the US version of the stock listed on NYSE). I have a physical share certificate, managed by the registrar Equiniti, not electronic shares.

I would like to sell these shares into USD cash into my US bank account, or alternatively into GBP cash into my US bank multi-currency account. I don't have UK bank account.

I called Vanguard but I couldn't get to anyone who knew how to handle this situation. As for International Brokers, they don't handle physical certificates.

Any tips?

Thanks!

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Duckie
Posts: 5668
Joined: Thu Mar 08, 2007 2:55 pm

Re: How to sell physical certificate for UK shares to USD?

Post by Duckie » Wed Jun 13, 2018 4:06 pm

bellucci, welcome to the forum.
bellucci wrote:I'm a US citizen based in New York City. I own a bunch of shares in Pearson, the UK company. These shares are for the stock listed on the London exchange, not the US version of the stock listed on NYSE). I have a physical share certificate, managed by the registrar Equiniti, not electronic shares.

I would like to sell these shares into USD cash into my US bank account, or alternatively into GBP cash into my US bank multi-currency account. I don't have UK bank account.
Go to a Charles Schwab office in person and talk to them. Take the certificate and registration information with you. If they can't handle the transfer they may be able to suggest an alternative brokerage.

bellucci
Posts: 2
Joined: Wed Jun 13, 2018 1:24 pm

Re: How to sell physical certificate for UK shares to USD?

Post by bellucci » Fri Jun 15, 2018 1:01 pm

Thanks Duckie. I did as you suggested. The local Schwab office told me they don't handle foreign certificates. They suggested I try Fidelity around the corner -- and Fidelity is able to help. They told me they need to generate a CUSIP number which takes a few business days, but I should be able to liquidate into USD by end of next week, into a Fidelity account, which I can then transfer to Vanguard or wherever. Fingers crossed this works out.

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