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Scripophily is the study and collection of stock and bond certificates.^[a] A specialized field of numismatics, scripophily has developed as an area of collecting because of the inherent beauty of certain historical certificates, and because of interest in the historical context of many of the documents. In addition, some stock certificates serve as excellent examples of engraving. Occasionally, an old stock certificate is found that still has value, representing actual shares in the original or a successor company.

History

Scripophily, the collecting of old stocks and bonds, gained recognition as a hobby around 1970.^{[citation needed]} The word "scripophily" was coined by combining words from English and Greek. The word "scrip" represents an ownership right and the word "philos" means "to love".^{[citation needed]}

Today, there are thousands of collectors worldwide in search of scarce, rare, and popular stock and bond certificates.^{[citation needed]} Whether they are private investors or business people, many collectors enjoy scripophily as a hobby, while others consider it a good form of investment.^{[citation needed]}

Many collectors appreciate the historical significance of old certificates. Others prefer the beauty of older stock and bond certificates that were printed in various colors with fancy artwork and ornate engravings. In recent times, certificates issued by dot-com companies and companies involved in scandals have become particularly popular amongst scripophilists.^{[citation needed]}

A recent addition to the hobby of scripophily is collecting shares issued in one's name. Common companies that issue personalized stock certificates include The Walt Disney Company, Harley-Davidson, McDonald's, Starbucks, Google, Ford Motor Company, The Coca-Cola Company, and Berkshire Hathaway.^{[citation needed]}

Many autograph collectors engage in scripophily, looking for certificates signed by historic or well-known figures. Certificates of this type include stock certificates issued by Standard Oil Company and signed by John D. Rockefeller, Franklin Fire Insurance Company certificates signed by Henry Charles Carey, Ringling Brothers and Barnum & Bailey Circus, Atari Corporation, Eastern Air Lines certificates signed by Eddie Rickenbacker when he served as the company's president, Tucker Corporation, and many others.^{[citation needed]}

As a hobby

A large part of scripophily is the study of financial history. Over the years there have been millions of companies that needed to raise money. In order to do so, the founders of these companies issued securities. Generally speaking, they either issued equity securities in the form of stock or debt securities in the form of bonds. However, there are many varieties of equity and debt instruments, including common stock, preferred stock, warrants, and bonds of various types.

Each certificate is a piece of history about a company and its business. Some companies became major successes, while others were acquired and merged with other companies. Some companies and industries were successful until they were replaced by new technologies. Some companies have been the center of scandal or fraud. The color, paper, signatures, dates, stamps, cancellations, borders, pictures, vignettes, industry, stockbroker, name of company, transfer agent, printer, and holder name are all of interest to scripophilists.^{[citation needed]}

Many companies either were never successful or went bankrupt, so that their certificates became worthless pieces of paper until the hobby of scripophily began. The mining boom in the 1850s, railroad construction in the 1830s, the oil boom in the 1870s, telegraphy in the 1850s, the automobile industry beginning around 1900, aviation beginning around 1910, electric power and banks in the 1930s, the airline wars and mergers in the 1970s, cellular telephones beginning in the 1980s, long-distance telephone service in the 1980s and 1990s, and most recently the dot-com era and Enron all resulted in historically significant certificates being generated and issued.^{[citation needed]}

Today, stocks and bonds are typically issued electronically,^{[citation needed]} meaning fewer paper certificates are issued as a percentage of actual stock issued. The Internet has played a role in raising awareness of the hobby.^{[citation needed]} A number of websites now exist that sell old stocks and bonds.^{[citation needed]}

Guidelines

There are many factors that determine value of a certificate. These include condition, age, historical significance, signatures, rarity, demand for the item, aesthetics, the type of company, the original face value, bankers associated with the issuance, transfer stamps, cancellation markings, whether the certificate was issued or unissued, printers, and the type of engraving process.

Notes

^ "... scripophily, the collecting of stock certificates: a niche hobby ...."^[1]

References

^ "For Sale: Souvenirs of Capitalism's Failures". The New York Times. January 25, 2021. Retrieved July 29, 2022.

External links

IBSS International Bond & Share Society
About the Hobby of Collecting Old Stocks and Bonds
Old Stock Exchange - Examples of Old Stock and Bond Certificates
Scripozine Scripophily magazine (PDF, free of charge)
Museo digitale della Scripofilia - Digital Museum of Scripophily
Professional Scripophily Traders Association

[2] "... scripophily, the collecting of stock certificates: a niche hobby ...."^[1]

[1] "For Sale: Souvenirs of Capitalism's Failures". The New York Times. January 25, 2021. Retrieved July 29, 2022.

[a]

[1]

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+{{Short description|Study and collection of stock and bond certificates}}
+{{use mdy dates|date=July 2023}}
+{{More footnotes needed|date=July 2023}}
 {{Numismatics}}
-'''Scripophily''' is the study and collection of [[stock]] and [[Bond (finance)|bond]] certificates. A specialized field of [[numismatics]], scripophily is an interesting area of collecting due to both the inherent beauty of some historical documents as well as the interesting historical context of each document. Some stock certificates are excellent examples of [[engraving]].  Occasionally, an old stock document will be found that still has value as a stock in a successor company.
+'''Scripophily''' is the study and collection of [[share capital|stock]] and [[Bond (finance)|bond]] certificates.{{efn|"... scripophily, the collecting of stock certificates: a niche hobby{{nbsp}}...."<ref>{{cite web | title=For Sale: Souvenirs of Capitalism's Failures | website=The New York Times | date=January 25, 2021 | url=https://www.nytimes.com/2021/01/25/style/capitalism.html | access-date=July 29, 2022|url-access=subscription}}</ref>}} A specialized field of [[numismatics]], scripophily has developed as an area of collecting because of the inherent beauty of certain historical certificates, and because of interest in the historical context of many of the documents. In addition, some stock certificates serve as excellent examples of [[engraving]]. Occasionally, an old stock certificate is found that still has value, representing actual shares in the original or a successor company.
-== History ==
+==History==
+[[Image:Ezekiel Air Ship stock certificate 1902.jpg|thumb|Ezekiel Air Ship stock certificate|left]]
+Scripophily, the collecting of old stocks and bonds, gained recognition as a [[hobby]] around 1970.{{cn|date=July 2023}} The word "scripophily" was coined by combining words from [[English language|English]] and [[Greek language|Greek]]. The word "scrip" represents an ownership right and the word "philos" means "to love".{{cn|date=July 2023}}
+Today, there are thousands of collectors worldwide in search of scarce, rare, and popular stock and bond certificates.{{cn|date=July 2023}} Whether they are private investors or business people, many collectors enjoy scripophily as a hobby, while others consider it a good form of investment.{{cn|date=July 2023}}
-Scripophily, the collecting of canceled old stocks and bonds, gained recognition as a [[hobby]] around 1970.  The word "scripophily" was coined by combining words from [[English language|English]] and [[Greek language|Greek]]. The word "scrip" represents an ownership right and the word "philos" means to love. Today there are thousands of collectors worldwide (Scripophilists or Scripophiliacs) in search of scarce, rare, and popular stocks and bonds. Collectors who come from a variety of businesses enjoy this as a hobby, although there are many who also consider scripophily a good investment. In fact, over the past several years, the hobby has exploded in popularity.
-Many collectors like the historical significance of certificates. Dot com companies and scandals have been particularly popular. Others prefer the beauty of older stocks and bonds that were printed in various colors with fancy artwork and ornate engraving.
+Many collectors appreciate the historical significance of old certificates. Others prefer the beauty of older stock and bond certificates that were printed in various colors with fancy artwork and ornate engravings. In recent times, certificates issued by [[Dot-com company|dot-com companies]] and companies involved in scandals have become particularly popular amongst scripophilists.{{cn|date=July 2023}}
+A recent addition to the hobby of scripophily is collecting shares issued in one's name. Common companies that issue personalized stock certificates include [[The Walt Disney Company]], [[Harley-Davidson]], [[McDonald's]], [[Starbucks]], [[Google]], [[Ford Motor Company]], [[The Coca-Cola Company]], and [[Berkshire Hathaway]].{{cn|date=July 2023}}
-Many autograph collectors are found in this field, looking for signed certificates from [[John D. Rockefeller]] of [[Standard Oil Company]], [[Henry Carey]] of the [[Franklin Fire Insurance Company]], [[Ringling Brothers and Barnum & Bailey Circus]], [[Atari Corporation]], [[Eddie Rickenbacker]] as president of [[Eastern Air Lines]], Broadband.com, [[Tucker Corporation]] and many others.
+Many autograph collectors engage in scripophily, looking for certificates signed by historic or well-known figures. Certificates of this type include stock certificates issued by [[Standard Oil Company]] and signed by [[John D. Rockefeller]], [[Franklin Fire Insurance Company]] certificates signed by [[Henry Charles Carey]], [[Ringling Brothers and Barnum & Bailey Circus]], [[Atari Corporation]], [[Eastern Air Lines]] certificates signed by [[Eddie Rickenbacker]] when he served as the company's president, [[Tucker Corporation]], and many others.{{cn|date=July 2023}}
+==As a hobby==
 [[Image:Columbia Pictures Aktie.jpg|thumb|Columbia Pictures|left]]
+A large part of scripophily is the study of financial history. Over the years there have been millions of companies that needed to raise money. In order to do so, the founders of these companies issued [[security (finance)|securities]]. Generally speaking, they either issued equity securities in the form of stock or debt securities in the form of bonds. However, there are many varieties of equity and debt instruments, including [[common stock]], [[preferred stock]], [[warrant (finance)|warrants]], and [[Bond (finance)|bond]]s of various types.
+Each certificate is a piece of history about a company and its business. Some companies became major successes, while others were acquired and merged with other companies. Some companies and industries were successful until they were replaced by new technologies. Some companies have been the center of scandal or fraud. The color, paper, signatures, dates, stamps, cancellations, borders, pictures, [[Vignette (philately)|vignette]]s, industry, stockbroker, name of company, transfer agent, printer, and holder name are all of interest to scripophilists.{{Citation needed|date=September 2022}}
-== Scripophily as a hobby ==
-A large part of scripophily is the area of financial history. Over the years there have been millions of companies which needed to raise money for their business.  In order to do so, the founders of these companies issued [[security (finance)|securities]]. Generally speaking, they either issued an equity security in the form of stock or a debt security in the form of a bond. However, there are many varieties of equity and debt instruments. They can be [[common stock]], [[preferred stock]], [[warrant (finance)|warrants]], [[cumulative preferred stocks]], bonds, [[zero-coupon bond]]s, [[long term bonds]] (over 15 years) and any combination thereof.
+Many companies either were never successful or went bankrupt, so that their certificates became worthless pieces of paper until the hobby of scripophily began. The [[mining]] boom in the 1850s, [[railroad]] construction in the 1830s, the [[oil boom]] in the 1870s, [[telegraphy]] in the 1850s, the [[automobile industry]] beginning around 1900, [[aviation]] beginning around 1910, electric power and banks in the 1930s, the airline wars and mergers in the 1970s, cellular telephones beginning in the 1980s, long-distance telephone service in the 1980s and 1990s, and most recently the [[dot-com era]] and [[Enron]] all resulted in historically significant certificates being generated and issued.{{Citation needed|date=September 2022}}
-Each certificate is a piece of history about a company and its business.  Some companies became major successes, while others were acquired and merged with other companies. Some companies and industries were successful until they were replaced by new technologies. The color, paper, signatures, dates, stamps, cancellations, borders, pictures, [[Vignette (philately)|vignette]]s, industry, stock broker, name of company, transfer agent, printer, and holder name all add to the uniqueness of the hobby.
+Today, stocks and bonds are typically issued electronically,{{cn|date=July 2023}} meaning fewer paper certificates are issued as a percentage of actual stock issued. The Internet has played a role in raising awareness of the hobby.{{cn|date=July 2023}} A number of websites now exist that sell old stocks and bonds.{{cn|date=July 2023}}
-A lot of companies either were never successful or went bankrupt, so that their certificates became worthless pieces of paper until the hobby of scripophily began.  The [[mining]] boom in the 1850s, [[railroad]] construction in the 1830s, the [[oil boom]] in the 1870s, [[telegraphy]] (1850s), the [[automobile industry]] beginning around 1900, [[aviation]] (around 1910), electric power and banks in the 1930s,  the airline wars and mergers in the 1970s, cellular telephones (1980s), long distance telephone service in the 1980s and 1990s, and most recently the [[Dot-com era]] and [[Enron]] all resulted in historically significant certificates being generated and issued.
+==Guidelines==
-With the existence of the Internet, more and more stocks and bonds are issued electronically, meaning fewer paper certificates are issued as a percentage of actual stock issued.  However, the Internet has also played a major role in creating awareness of the hobby as can be seen at Scripophily.com.
-== Scripophily guidelines ==
-{{Inappropriate tone|date=November 2009}}
 [[Image:B&O RR common stock.jpg|thumb|200px|[[Baltimore and Ohio Railroad]]]]
-There are many factors that determine value of a certificate. These include condition, age, historical significance, signatures, rarity, demand for the item, [[aesthetics]], type of company, original face value, bankers associated with issuance, transfer stamps, cancellation markings, issued or unissued, printers, and type of engraving process.
+There are many factors that determine value of a certificate. These include condition, age, historical significance, signatures, rarity, demand for the item, [[aesthetics]], the type of company, the original face value, bankers associated with the issuance, transfer stamps, cancellation markings, whether the certificate was issued or unissued, printers, and the type of engraving process.
+==See also==
-'''Condition'''   -  The grading scale that could be used in stocks and bonds is shown below.  Generally speaking, however, the grading is not used in the hobby as strictly as it is in coins and stamps.  Most people acquire certificates for the artwork and history.
+{{Portal|Numismatics}}
+*[[Stock certificate]]
+==Notes==
-* Uncirculated - Looks like new, no abnormal markings or folds, no staples, clean signature and no stains
+{{notelist}}
-* Extremely Fine - Slight traces of wear
-* Very Fine - Minor traces of wear
-* Fine - Creased with clear signs of use and wear
-* Fair- Strong signs of use and wear
-* Poor- Some damage with heavy signs of wear and staining
+==References==
-'''Age''' -  Usually the older the more valuable, but not always.
+{{reflist}}
+==Further reading==
-'''Historical significance'''    -  What product did the company produce? Was it the first car, airplane, cotton gin, etc. Was the company successful? Was it a fraud? In what era (i.e. during a war, depression, revolution) was the item issued?
+* {{cite journal | last=Drezen | first=Richard S. | title=The Art of the Market: Two Centuries of American Business as Seen Through Its Stock Certificates | journal=Library Journal | volume=124 | issue=20 | date=December 1, 1999 | issn=0363-0277 | pages=154 | url=https://go.gale.com/ps/i.do?id=GALE%7CA58915895&sid=googleScholar&v=2.1&it=r&linkaccess=abs&issn=03630277&p=LitRC&sw=w&userGroupName=anon%7Ef4a4865a | access-date=July 29, 2022}} {{subscription required}}
+* {{cite journal | title=Accounting history hobbies; Scripophily | journal=Accounting Historians Notebook | publisher=Academy of Accounting Historians | date=Spring 1985 | volume=8 | issue=1 | url=https://egrove.olemiss.edu/aah_notebook/vol8/iss1/7 | access-date=July 29, 2022| last1=Accounting Historians | first1=Academy of }} {{subscription required}}
-'''Signatures''' -  Did anyone famous or infamous sign the certificate?
+*{{cite magazine|magazine=Changing Times: The Kiplinger Magazine|date=August 1981|title=The Worth of Worthless Stock Certificates|pages=51–52|url=https://books.google.com/books?id=ugQEAAAAMBAJ&pg=PA51|author=<!--none listed-->}}
+*{{cite web|url=https://www.bloomberg.com/news/articles/2019-07-09/collectors-are-shelling-out-395-for-bear-stearns-stock-certificates|title=Collectors Are Shelling Out $395 for Bear Stearns Stock Certificates|website=Bloomberg|first=Michael P.|last= Regan|date=July 9, 2019|access-date=July 24, 2023 }}
-'''Certificate Owner's Name'''  -  Was the certificate issued to anyone famous or to a famous company?
-'''Rarity''' -  How many of the certificates were issued? How many survived over the years? Is the certificate a low number?
-'''Demand for Item'''   -  How many people are trying to collect the same certificate?
-'''Aesthetics'''   -  How does the certificate look? What is in the vignette? What color of ink was used? Does it have fancy borders or writing on it?
-'''Type of company''' -  What type of company was it issued for? Does the industry still exist? Has the industry changed a lot over the years?
-'''Original Face Value''' -  How much was the stock or bond issued for? Usually, the larger the original face value, the more collectible it is.
-[[Image:Heinz Aktie.jpg|thumb|[[H. J. Heinz Company]]]]
-'''Bankers associated with Issuance''' - Who worked on the fund raising efforts? Was it someone famous or a famous bank? Is the bank still in existence?
-'''Transfer Stamps''' -  Does the certificate have tax stamps on it - imprinted or attached? Are the stamps valuable or unusual?
-'''Cancellation Markings''' -  Are the cancellation markings interesting to the item? Do they detract or add to its history and looks?
-'''Issued or Unissued'''   -  Was the item issued or unissued? Was the certificate a printer's prototype usually stamped with the word "specimen"? Usually, issued certificates are more valuable and desirable.
-'''Printers''' -  Who printed the certificate? Was it a famous printer?
-'''Type of Engraving Process'''  -  How was the certificate made? By hand? By wood engraving? Steel engraving? Lithograph? Preprinted form?
-'''Paper'''   -  Was the paper use in the printing high quality or low quality? Has it held up over time? Does it have a watermark to prevent counterfeiting?
-==See also==
-{{Portal|Numismatics}}
-*[[Stock certificate]]
 ==External links==
-{{Commons category|Stock}}
+{{Commons category|Scripophily}}
-*[http://www.sec.gov/answers/oldcer.htm Securities and Exchange Commission]
+*[http://www.scripophily.org/ IBSS International Bond & Share Society]
-*[http://www.norrico.com/collecting.html Collecting Stocks & Bonds: A collector's story]
+*[http://www.oldstocks.com/hobby.htm About the Hobby of Collecting Old Stocks and Bonds]
+*[http://www.oldstockexchange.com Old Stock Exchange - Examples of Old Stock and Bond Certificates]
+*[http://www.scripozine.com Scripozine] Scripophily magazine (PDF, free of charge)
+*[http://www.scripomuseum.com Museo digitale della Scripofilia - Digital Museum of Scripophily]
 *[http://www.psta.com Professional Scripophily Traders Association]
-*[http://www.wertpapierwelt.ch/vwm/en/index.htm Wertpapierwelt] the Swiss Museum of Historical Shares and Bonds (English pages)
-*[http://www.moaf.org/index The Museum of American Finance] the U.S. financial history museum located in New York
-* [http://www.scripophily.net/pleninsibyhu.html Example of Playboy's share at scripophily.net]
-*[http://www.aksjebrev.com The official site for collectors of Scripohilic material in Norway]
-*[http://leeuwerck.blogspot.com Franky's Scripophily BlogSpot - international blog about collecting antique stocks and bonds]
-*[http://www.norrico.com/TreasuryCover.gif Signatures of Samuel Clemens - Mark Twain & Unionville gold discoverer on 1863 Nevada territorial stock]
 [[Category:Numismatics]]
-[[Category:Securities]]
+[[Category:Securities (finance)]]
-[[de:Scripophilie]]
-[[es:Escripofilia]]
-[[fr:Scripophilie]]
-[[it:Scripofilia]]
-[[nl:Scripofilie]]
-[[ru:Скрипофилия]]