Expert: Steven Taylor - 1/29/2010

Question
I found some old stock shares at a garage sale.  They are from:  Canadian Oil %26 Gas Reserves dated 1953; Toona, Inc. dated 1969; and Consolidated Uranium Mines, Inc. dated 1952-53.  Any value and if so, how do I go about selling them?

Answer
Roger, stock certificates are not bearer instruments. Just because you bought them at a garage sale does not mean you legally own the underlying shares. Stock Certificates need to be legally transferred to be a valid sale. Take a look at the back of the certificate - if the registered owner as named on the front of the certificate (or their heirs) did not complete the transfer agreement on the back of the certificate, you will likely have a very difficult time proving you validly own the shares represented by the certificate.

In this case, I don't think it matters. The Canadian Oil %26 Gas went through 2 reverse splits before the company was struck off the corporate register. No value. I have no information at all on Toona. The Consolidated Uranium was acquired before being struck off the register in the 1960's.