Old Stock Certificate Found

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shelterinplace
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Old Stock Certificate Found

Post by shelterinplace »

How do I find out if an old stock certificate found in a drawer has any value?

The company is Avnet, 10 shares, dated 1/17/1985, CUSIP 053807 10 3.

Thanks!
I want to go back in time and take my dog with me... I'd be happy without the internet and a cell phone, but my dog definitely wants a truck.
TheHiker
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Re: Old Stock Certificate Found

Post by TheHiker »

AVT trades at ~$50 a share. They had a 2:1 stock split in 2000 so it *should* be worth ~$1000.
Topic Author
shelterinplace
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Re: Old Stock Certificate Found

Post by shelterinplace »

TheHiker wrote: Thu Dec 28, 2023 2:09 pm AVT trades at ~$50 a share. They had a 2:1 stock split in 2000 so it *should* be worth ~$1000.
How do you cash it in?
I want to go back in time and take my dog with me... I'd be happy without the internet and a cell phone, but my dog definitely wants a truck.
Jack FFR1846
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Re: Old Stock Certificate Found

Post by Jack FFR1846 »

I would start by asking Schwab and/or Fidelity if you can bring it to your local office. If not, try Computershare. In the 70's, I had stock shares as certificates to sell and went through my dad's full service broker and from memory, it cost me $140 to sell. I brought the shares to their office. Likely, it will be cheaper these days but not free, I expect.
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Topic Author
shelterinplace
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Re: Old Stock Certificate Found

Post by shelterinplace »

Jack FFR1846 wrote: Thu Dec 28, 2023 2:14 pm I would start by asking Schwab and/or Fidelity if you can bring it to your local office. If not, try Computershare. In the 70's, I had stock shares as certificates to sell and went through my dad's full service broker and from memory, it cost me $140 to sell. I brought the shares to their office. Likely, it will be cheaper these days but not free, I expect.
Thanks!
I want to go back in time and take my dog with me... I'd be happy without the internet and a cell phone, but my dog definitely wants a truck.
TheHiker
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Re: Old Stock Certificate Found

Post by TheHiker »

I think only the owner can cash it (assuming they still own the shares). If you are not the owner, you should find who owns it.
Topic Author
shelterinplace
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Re: Old Stock Certificate Found

Post by shelterinplace »

TheHiker wrote: Thu Dec 28, 2023 2:21 pm I think only the owner can cash it (assuming they still own the shares). If you are not the owner, you should find who owns it.
The owner passed and the estate is being probated. I was given musty paperwork from a drawer that seemed worthless to the administrator (I'm intrigued by old documents). I can give it back if it has value.
I want to go back in time and take my dog with me... I'd be happy without the internet and a cell phone, but my dog definitely wants a truck.
HomeStretch
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Re: Old Stock Certificate Found

Post by HomeStretch »

Call the transfer agent (Equiniti Trust Co, see link, below) for the stock to see if the name on the stock certificate is currently a shareholder of record. It’s possible they have no value if the shares were already redeemed etc. through a lost certificate affidavit.
https://ir.avnet.com/investor-resources/investor-faqs

The transfer agent will have a process for the Executor to submit documentation to (1) re-register the shares followed by a transfer of the shares to an Estate brokerage account, or (2) to sell the shares and send the proceeds to the Estate account (though the transfer agent’s broker fees tend to be high).
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nisiprius
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Re: Old Stock Certificate Found

Post by nisiprius »

In the back of your mind, although I doubt that anything as modern as 1985 would be really valuable, be aware that old stock certificates are collectibles. The avocation of collecting stock certificates is called "scripophily." I had a about ten shares of stock from a company I worked at that had an employee stock purchase program, I was laid off, the company went into bankruptcy and did not emerge... but I was able to get $9.95 for the certificate from a scripophily dealer.
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stickman731
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Re: Old Stock Certificate Found

Post by stickman731 »

Also check your state's unclaimed property website as the company may have been unable to contact the owner due to lost of address and surrender any dividends, etc to the state.
mad409
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Re: Old Stock Certificate Found

Post by mad409 »

I too found an old stock certificate, hoping to resolve the issue, should have value. It was gifted and put in my name in 1999 and I placed in a bank SDB for over 20 years. The agent changed over the years, but I've contacted the new agent. Actually, the original issue agent is out of business. The new agent has no record of me or the stock, so I've sent a copy for them to review, front and back. It appears that when it was issued/transferred in my name, since I didn't take any further action all dividends and other updates pertaining to the shares were never received by me. The company is still in business but was purchased by Berkshire Hathaway INC in 2010. I'm assuming all mail correspondence went to my late Grandmothers address therefore I forgot about owning the stock.

After doing a little research, it's my opinion only, I should be compensated for past dividends, be provided a way to register an account with the new agent and they should calculate this along with the purchase price and new stock issued of BRK B from past history calculations.

I do blame myself for not keeping up with this, but as instructed I kept the certificate in a safe place.

The stock is BNI, BNSF and now BRK B, would have taken the stock option and not money at the time. Hope this doesn't get too complicated, and they do the right thing as I still own part of this railroad. Thoughts anyone? Has this type of situation happened to anyone here? I can't find much on the net.

Thanks. :?
HomeStretch
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Re: Old Stock Certificate Found

Post by HomeStretch »

Let the transfer agent do the research.

Dividends are paid to shareholders of record by the transfer agent. They don’t keep unclaimed dividends which are eventually turned over to the state. Check the escheated property listing for your state and whatever state is the mailing address on file.

If there were any corporate transactions, such as a merger or acquisition, any associated exchanges share/$ are usually held in escrow if the share holder has not turned in the paper certificate.
Geologist
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Re: Old Stock Certificate Found

Post by Geologist »

I second Homestretch's suggestion that you should research the escheat records of relevant states. It is possible that not responding to communications about the merger meant that the clock started on the escheat process for your ownership of the shares and they were escheated (something like this happened to my mother who didn't update an address that was decades old when the corporate transaction happened). So this might not just be something that happened to unclaimed dividends.

If escheated, the stock (whatever it was at that point) would have been sold and the state would have the proceeds, which you could claim.

It is fine to have the transfer agent look into this too.
mad409
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Re: Old Stock Certificate Found

Post by mad409 »

Thanks for both replies, it's appreciated. Checked online with my state and there was one $25.00 dividend listed from BNI to claim. Not sure how this old address was listed, I moved from there in 1997 and the stock was issued in 1999. Although it does provide additional proof of ownership since they weren't able to find me in their system. I'll give this some time to pan out and see where it goes. Thanks again..
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