Do you have old stock certificates and want to know how much they are worth? There are a few steps you can take to find out the value of your stock certificates that will likely spend the better part of an afternoon digging through corporate exchange databases if you know where to look. You’ll need decent business knowledge, the name of the corporation and the transfer agent for your shares (both are on the stock certificate), and access to corporate exchange directories (check your local library). Databases are available at reasonable prices, although local libraries often have these resources available. Resources you are looking for; Directory of Obsolete Securities, Robert D. Fisher Manual of Valuable and Worthless Securities, Survey of Predecessor and Defunct Companies by The Financial Post or Capital Changes Reporter.
Any of these books will suffice. In most cases, these books are found in the reference section. To find the value of our certificates, simply follow the corporation name found on your stock certificate through one of these directories. Let’s do our Kaufmann Department Stores Securities Corporation example, let’s say we have 1000 shares. Kaufmann Department Stores Securities Corp. is located on page 1045 of the Directory of Obsolete Securities. The book states that Kaufmann Department Stores Securities Corp. was merged to form Kauffmann Department Stores, Inc. Each common share was exchanged for 0.3069438 shares of preferred stock and 3.069438 shares of common stock in Kauffman Department Store, which was later merged with May Department Stores. in 1946. The book shows that on August 30, 2005 May Department Stores merged into Federated Department Stores, Inc.. Now let’s follow the last entity, Federated Department Stores, Inc. on its own page.
Federated Department Stores, Inc. is located on page 674 of the Deprecated Values Directory. The book states that the company was reorganized in 1994, which is irrelevant as our shares were acquired in the trade by the company in 2005, followed by information that the company was renamed Macy’s in 2007. Note in addition to the name of the company in parentheses a state abbreviation, the state abbreviation refers to the state in which the company was incorporated and will be valuable to keep. In this case (DE) is found next to the name, as such we can assemble that Delaware is the state of incorporation.
Now that we have established the current status of the shares, the current corporation is Macy’s. If your shares were lost or if you have any other problems with the logistics of the certificate. The best way to investigate this would be to contact the company’s transfer agent. Our next step will be to see how to do it. Let’s continue with Macy’s from the previous steps. The company was (as we gather from the Directory of Obsolete Securities) incorporated in Delaware (DE). From the state of Delaware we can receive the termination date of the company and the last transfer agent of the company, which will be critical later on.
The site below provides links to all business entity searches in all states, including Delaware.
http://www.secstates.com/
If the company you are investigating is incorporated in Canada, the site below provides links to all provincial resources
http://goldsheetlinks.com/obsolete.htm
Most states have online search options, although some still deal only by phone. This changes from state to state, although the state used in our example, Delaware, has an online business search that will allow us to retrieve all records. The Delaware business entity search retrieves for us corporate contact information, transfer agent contact information, and in some cases, extensive company details. Contact information to help you retrieve your certificate information will always be available here.
To review our research, we started at the local library where we were able to trace the various corporate changes the company had been involved in. Then, on the Delaware Secretary of State site, we found a Business Entity Search, where we were able to locate the Transfer Agent information.
The transfer agent will be able to confirm with you all the corporate changes, the ownership of the shares that your company has suffered and the result for you. In some cases, shares are split and acquired, so your initial ownership could actually be a different number of shares in a different company, in which case the transfer agent can send you a correct certificate.
At this point, you have put together the entire corporate history of the stocks you own! If the transfer agent requires you to obtain proof of purchase of your shares or if any other legal issue arises, this is where professional help can be a valuable resource. There are some stock research firms that are available for the more complex corporate stories with restructurings and the like that we haven’t covered. (Stock Certificate Expert) is if you choose the route of having a professional stock research service guide you, the Gold Sheet Links references above also show many professional research firms.
With all the best of luck in establishing the current monetary value of your stock and corporate status!
