The Value Of 'Worthless' Stocks
The Saturday Early Show's Collectibles Expert Tony Hyman, author of Trash or Treasure: Guide to Buyers, takes a look at collectible stock certificates.
If you find an old stock certificate, there's only a one in a million chance it's for a company that's still around. But if it was issued to an ancestor of yours, any good broker can check its value for you.
It is far more likely that your certificate is worth money only to collectors of what's called "fiscal paper," such as stocks, bonds, checks and the like.
People collect these for their artwork, called vignettes, or because they're interested in a particular industry, region or historic period.
Most popular are mining, transportation and oil certificates issued before 1920 especially those from the West.
If a famous person owned and sold the stock, the autograph can add greatly to the value.
A stock certificate from Buffalo Bill or a Sam Clemens (known as Mark Twain) might bring $300 to $600. But if it's autographed, it could be worth $50,000 or more.
Earlier this year, a first issue Standard Oil stock signed by John D. Rockefeller himself brought its lucky finder a whopping $135,000, but such dollar amounts are the exception, not the rule.
Ninety percent of collectible stocks still retail for $5 to $300.
As they say in the stock market: Buy low and sell high and make sure to get expert advice.
For more on collectible stock certificates, Hyman recommends Fred Holabird, a collector, dealer and auctioneer. His email address is fred@holabird.org. Hyman also recommends Frank Hammelbacher, a collector and dealer. His email address is morrico@bauct.net.
Find out about other collectibles described by The Saturday Early Show's Tony Hyman in the Collectibles Archive or visit Tony Hyman's Web site.
If you think you have a collectible worth a lot of cash, send an email to sat@cbsnews.com with "What's It Worth?" in the subject line. Or write to "What's It Worth?" The Saturday Early Show, 514 West 57th St., 6th floor, New York, N.Y. 10019.