Canadian Stocks/OLD CANADIAN SHARE CERTIFICATES
QUESTION: I have 2 share certificates: 1 for Inco Limited Class A Common Shares and 1 for Falconbridge Nickel Mines Limited Common Shares, both dated 1977. Are they of any value, other than for "wallpaper" ??
ANSWER: Shirley, both Inco and Falconbridge were both acquired in 2006 in cash offers. The registered holder of the shares should have received a check for each certificate at that time. Therefore, the certificates are good for decoration. They likely have limited value to collectors as art.
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QUESTION: The registered holder did NOT receive a cheque at the time of the offers ... What route do I follow to clear this up ? Do you know who the transfer agent was at the time of the acquisition ?
Shirley, by law, if the certificates were valid, and the transfer agents were unable to contact the registered holder for payment, the money would have been turned over to the government for safekeeping. Therefore, if you are the registered holder, you need to search the missing property office of every State or Province in which you lived from the time you first acquired the certificates in 1977 until the buyouts in 2006 to see if that money is waiting for you to claim it. You can search many of them online for free at www.missingmoney.com and www.naupa.org.