Expert: Steven Taylor - 6/21/2011

Question
I recently came across my father's stock certificates from Sapphire Petroleum Limited dated 1961.  I understand this company either merged or was purchased by Cabol Enterprises Limited around 1964.  I show a reference in the records that Cabol Enterprises Ltd is listed in the 1990 edition of the Directory of Obsolete Securities - indicating that "charter cancelled and declared dissolved for failure to file returns and pay fees 7//27/76".  So, I assume the stock has no value.  Do the certificates have any value to collectors?

Answer
Nancy, I have the same information. The shares currently have no value as the Company was dissolved in 1976.

Old certificates often do have some (nominal) value to collectors. Well known companies are the most sought after and valuable, but also certificates with intricate artwork can have value as well. Certificates have to be in good condition. I am not sure a company like Cabol would have much, if any value, but it doesn't hurt to look. Try searching on the internet for "old stock certificate collectors" or "scripophily" (the official name of the hobby of collection of stock and bond certificates).