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Canadian Stocks/Old Canadian stock

Expert: Steven Taylor - 9/13/2010

Question

Hi Steven, I found some ancient canadian stock certificates in a box lot from a garage sale and wondered if they had any value. The canadian north west oil company, 50 shares dated 1906, signed by secretary James A Douglas. Same share again for 50 shares dated 1908, secretary A Mason. Rockland mines limited, 20,000 shares dated 1936 secretary M D Gray. High River Natural Gas Company, limited 10 shares at $50 dated 1913 vice president Duncan Stuart. R.Hartridge and Company limited dated 1913. Manor Gold Mines, Limited. 500 shares dated 1941. Any information would be greatly appreciated! Thank you and have a great week!

Answer
Heather, I don't have any information on those companies, as they predate most of the information I have available. But, even if the companies are still around, they are unlikely to have any value for you as share certificates. That is because they are not properly transfered to you if you bought them at a garage sale. A stock certificate is not a bearer instrument. Unlike money, where anyone can spend it if they have possession of it, a stock certificate is only negotiable to the person named on the Company's shareholder records. That is why certificates are numbered and usually have the owner's name right on the front. For you to claim ownership, you would have to have the former owner (or heirs) to complete the legal transfer documents to have the transfer agent notified and the shares reissued in your name. Even if they did have value, the actual owner could still claim the certificates as lost and have new ones reissued - an owner does not actually have to have the certificates in their possession in order to own the stock.

If you bought the shares at a garage sale, the assumption is that the certificates are sold as art, not as negotiable certificates. However, having said that, they may have some nice value to collectors. I suggest you focus your efforts on the collectable market and see if you can resell them at a profit there. You can search online for "share collectables" or "scripophily" (the collection of stock certificates) to see what your particular certificates may be worth in the collectable market. You may come out with a nice profit after all.

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