What Are Your Old Stocks Worth?
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by: Eric Drum06
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Word Count: 522
The word scripophily has its origins in Greek and English. The word scrip means an ownership right and philos in Greek means to love. The collectors of old scrips are called Scripophilists or Scripophiliacs. Today there are thousands of collectors’ worldwide who are in search of valuable rare and popular stocks and bonds. The field of scripophily has gained importance and recognition as a hobby since 1970.
Scripophily is new field for collectors. It has been defined as the study and collection of stocks and bonds. It is actually the specialized field of numismatics. People are attracted to it because of the beauty of the old bonds and shares being collected as well as the historical context of each document. Some of the stock certificates are beautifully engraved. Occasionally it is possible to come across an old stock document that is still carrying its value as a stock in a successor company. Purchasing these old scrips is considered by many as a safe investment. Over the last few years the hobby has exploded in popularity.
While dot com companies and scandals have made the scrips popular, it is the historical significance that draws most investors to this hobby. Some other scripophily enthusiasts prefer the beauty of old stocks and bonds that were printed in various colors with fancy artwork and ornate engraving.
Each scrip reveals the history of the company and its business. Some of the companies were hugely successful while others suffered losses and were merged with other companies or were acquired. Some companies suffered losses after the entry of new technology. What makes scripophily as a fascinating hobby is the variety in the scrips and bonds issued. They vary in their color, paper, signatures, dates, stamps, cancellations, borders, pictures, vignettes, industry, and stock broker, name of company, transfer agent, printer, and holders.
A number of companies suffered huge losses and they become bankrupt and the certificates issued by them became worthless. That is until the hobby of scripophily gained ground. It was then that some of the oldest certificates came to be much in demand. Certificates were issue by various companies when different sectors of industries started to gain importance at varied points of time the mining industries in 1850’s, the rapid railroad construction ion the 1830’s, the oil boom in the 1870’s, telegraphy in the 1850’s, the automobile industry beginning in around 1900, aviation around 1910, electric power and banks in the 1930’s the airlines wars and mergers in the 1970’s long distance telephone service in the 1980’s and cellular services in the 1990’s and in the recent years the dot com companies and Enron all have resulted in historically significant certificates being generated and issued. A virtual treasure trove for scripophily enthusiasts.
However of late with the existence and large scale use of the internet more and more certificates are being issued electronically. Fewer certificates are actually being issued on paper. The internet has also aided in making scripophily popular as a hobby. It provides visuals of the rarest certificates and a chance for enthusiasts to display their holdings while getting a fair idea of the scripophily market.
About the Author
Eric Drum is the author of this article on What Are Your Old Stocks Worth?. Find more information about Research Your Old Stocks here.
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