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Value of Old Mining Stocks

By Anneli Meeder– September 22, 2005

I have some old mining stocks, are they worth anything? At InfoMine, we hear this question regularly. Unfortuntely, we do not have the time to research individual inquiries about old stock certificates, this article however is intended as a general guide on where to start looking if you care to do the research on your own. Please note that all the specifics in this article apply to US and Canadian companies only. Old mining company stocks may have value for one of two reasons: either the company still exists (under the same name or merged with or acquired by another company); or the certificates may have collector’s value.

Researching the Company Name

By the time you are reading this, you have probably already researched whether the company that is named on the stock certificate still exists under that same name. Just in case you haven’t, search the InfoMine Companies & Properties Database, it contains thousands of mining company addresses. If you find the company, contact their investor relations department. If your search is unsuccessful, read on: Next, we need to find out if the company has changed names through a merger or acquisition, or whether it is obsolete. There are some online resources, but this research will most likely involve reference books in libraries.

Online resources

InfoMine Companies & Properties Database tracks company name changes back to 1990.
Many states and provinces through the Secretary of State provide access to incorporation records. A comprehensive list of online state and province resources can be found at Goldsheetlinks.

Reference Books

Reference Books for older stocks (all of these should be available in most larger public libraries and university libraries):

Robert D. Fisher Manual of Valuable and Worthless Securities, published between 1938 and 1983.
Directory of Obsolete Securities: annual guide to stocks. 1970-
[For Canada:] Survey of Predecessor and Defunct Companies (1985-2001)

More reference sources are listed on the Library of Congress page about Obsolete Securities: http://www.loc.gov/rr/business/guide/guide1/sharp13.html#obsolete

Fee-based search services

If all this sounds too time-consuming or complicated, there are a number of fee-based services which will do the research for you, all you need to give them is the information found on the stock certificate (name of the company, date issued, and jurisdiction). Charges are usually between $40 and $100 per stock. There is an incomplete list of search companies at the end of this article.

Company Obsolete?

If the research shows that the company is obsolete, the stock as such is worthless. It may still have collector’s value. If you are interested in selling your old certificates to a collector or dealer, google “scripophily” or check out the Scripophily Dealers and Organisations on the excellent Goldsheetlinks website.

Company Merged or Acquired?

If the research shows that the company has merged or has been acquired by a currently existing company, contact the company’s Shareholder Services or Investor Relations department (contact information can usually be found on the company’s website) with regards to stock transfer. Sometimes these are handled by Transfer Agents, which will also be listed on the company’s homepage.

Useful links with further information:

Researching company names:

Fee-based search companies:

Smythe Stock and Bond Research International service with well over 100 years’ experience
http://www.stocksearchintl.com (maintains an online database with 40,000 records of obsolete companies)
http://www.oldstockresearch.com