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Pillar Of The Community
United States
1122 Posts |
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Pillar Of The Community
United States
1122 Posts |
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The stocks required a little research to ascertain their value when issued. On Dec. 31, 1991, just over 2 million shares of Sun Distributors, LP would have cost between $5 and $5.25 million, depending on when in the day it was traded (and not including brokerage fees). The closing value of 999,9999 shares of Westcoast Energy on Sept. 3, 1997 was $19.56 million. And lastly, the First Virginia Banks stock certificate. Closing value for 776,325 shares on Oct. 6, 1993: $30.85 million dollars! For this one I also checked on how much it sold for - turns out they lost about $5 million on the deal. None of these pieces of financial history cost me more than $15 each, which is why I'm kind of surprised so few people find these of interest. To me it's amazing to hold certificates that were, at least for a short time, worth more than I will ever earn in my lifetime.       |
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Pillar Of The Community
3393 Posts |
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These are usually of interest to stamp collectors if they have a revenue stamp on them like they used to in the past. Is not the collection of stock certificates called scripophily? |
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Pillar Of The Community
United States
649 Posts |
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Yes, scripophily. I'm surprised at just how small that hobby is compared to others - there is only one major scripophily society worldwide (the International Bond & Share Society), which is heavily European - and has only 441 members. There is no US organization so far as I know. |
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Pillar Of The Community
United States
1122 Posts |
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It would be great if there was a forum dedicated specifically to scripophily, but alas, we are relegated to sub-categories of either stamp collecting or paper money collecting. There are some similar aspects, such as bank note engraving, but yes, it is a niche hobby. |
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Pillar Of The Community
United States
1122 Posts |
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Bedrock Of The Community
United States
12128 Posts |
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Here's a NY Times newspaper abstract of what that dollar amount represented: Quote: The Pennsylvania Railroad Company has asked for bids to be received on Nov. 16 for $14,518,000 of first mortgage bonds of the New York Bay Railroad. The bonds will be dated Oct. 1, 1948, and will mature on Oct. 1, 1973. They contain a provision for an annual sinking fund of $300,000 and will be guaranteed by the Pennsylvania Railroad as to principal, interest and sinking fund. |
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Pillar Of The Community
United States
649 Posts |
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Make sure you send a scan of that in to Terry Cox for his database. The underlying bond appears to be listed (in unissued form as an "odd" bond - that is, with denominations printed in on an individual basis) with one serial number but no scan. |
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Pillar Of The Community
United States
1122 Posts |
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You bet I will! And I'll be sending him a high-res image, too.
Wt1, as always you are a big help in researching the background to these high-denomination stories. It looks like the Equitable Life Assurance Society answered the call of the Pennsy RR -- for the entire amount. |
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Pillar Of The Community
United States
649 Posts |
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Smaller than we've been talking about, but here's a $100,000 bond from the Baltimore & Ohio RR. The stocks of this company are generally quite common but the bonds are much harder to find!  |
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Pillar Of The Community
United States
743 Posts |
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Pillar Of The Community
United States
1122 Posts |
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Pillar Of The Community
United States
649 Posts |
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United States
4718 Posts |
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Pillar Of The Community
United States
1122 Posts |
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Pillar Of The Community
United States
649 Posts |
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Greg - thanks. Sent it to him a couple of days ago, which is why I had the image to post here. :) It should appear when Terry does his next refresh. |
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Replies: 16 / Views: 4,668 |
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