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mw-list-item"><a href="https://et.wikipedia.org/wiki/Skripofiilia" title="Skripofiilia – Estonian" lang="et" hreflang="et" data-title="Skripofiilia" data-language-autonym="Eesti" data-language-local-name="Estonian" class="interlanguage-link-target"><span>Eesti</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Escripofilia" title="Escripofilia – Spanish" lang="es" hreflang="es" data-title="Escripofilia" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Scripophilie" title="Scripophilie – French" lang="fr" hreflang="fr" data-title="Scripophilie" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Scripofilia" title="Scripofilia – Italian" lang="it" hreflang="it" data-title="Scripofilia" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-lt mw-list-item"><a href="https://lt.wikipedia.org/wiki/Skripofilija" title="Skripofilija – Lithuanian" lang="lt" hreflang="lt" data-title="Skripofilija" data-language-autonym="Lietuvių" data-language-local-name="Lithuanian" class="interlanguage-link-target"><span>Lietuvių</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Scripofilie" title="Scripofilie – Dutch" lang="nl" hreflang="nl" data-title="Scripofilie" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a 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.mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><table class="sidebar sidebar-collapse nomobile nowraplinks hlist"><tbody><tr><td class="sidebar-pretitle">Part of <a href="/wiki/Category:Numismatics" title="Category:Numismatics">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle" style="background-color: lavender"><a href="/wiki/Numismatics" title="Numismatics">Numismatics</a><br /><span style="font-size:85%;">the study of currency</span></th></tr><tr><td class="sidebar-image"><span class="notpageimage" typeof="mw:File"><a href="/wiki/File:AIGA_Currency_Exchange_-_Euro.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c8/AIGA_Currency_Exchange_-_Euro.svg/120px-AIGA_Currency_Exchange_-_Euro.svg.png" decoding="async" width="120" height="112" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c8/AIGA_Currency_Exchange_-_Euro.svg/180px-AIGA_Currency_Exchange_-_Euro.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/c8/AIGA_Currency_Exchange_-_Euro.svg/240px-AIGA_Currency_Exchange_-_Euro.svg.png 2x" data-file-width="446" data-file-height="416" /></a></span></td></tr><tr><td class="sidebar-above"> <ul><li><a href="/wiki/Glossary_of_numismatics" title="Glossary of numismatics">Glossary</a></li></ul></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: lavender;color: var(--color-base)"><div class="sidebar-list-title-c"><a href="/wiki/Currency" title="Currency">Currency</a></div></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Coin" title="Coin">Coins</a></li> <li><a href="/wiki/Banknote" title="Banknote">Banknotes</a></li> <li><a href="/wiki/Counterfeit_money" title="Counterfeit money">Forgery</a></li></ul> <ul><li><a href="/wiki/List_of_currencies" title="List of currencies">List</a></li> <li><a href="/wiki/ISO_4217" title="ISO 4217">ISO</a></li></ul> <dl><dt><a href="/wiki/List_of_circulating_currencies" title="List of circulating currencies">Circulating currencies</a></dt></dl> <ul><li><a href="/wiki/Category:Currencies_of_Africa" title="Category:Currencies of Africa">Africa</a></li> <li><a href="/wiki/Category:Currencies_of_Asia" title="Category:Currencies of Asia">Asia</a></li> <li><a href="/wiki/Category:Currencies_of_Europe" title="Category:Currencies of Europe">Europe</a></li> <li><a href="/wiki/Category:Currencies_of_North_America" title="Category:Currencies of North America">North America</a></li> <li><a href="/wiki/Category:Currencies_of_South_America" title="Category:Currencies of South America">South America</a></li> <li><a href="/wiki/Category:Currencies_of_Oceania" title="Category:Currencies of Oceania">Oceania</a></li></ul> <dl><dt><a href="/wiki/Local_currency" title="Local currency">Local currencies</a></dt></dl> <ul><li><a href="/wiki/Company_scrip" title="Company scrip">Company scrip</a></li> <li><a href="/wiki/Local_exchange_trading_system" title="Local exchange trading system">LETS</a></li> <li><a href="/wiki/Time-based_currency" title="Time-based currency">Time dollars</a></li></ul> <dl><dt><a href="/wiki/Fictional_currency" title="Fictional currency">Fictional currencies</a></dt></dl> <dl><dt><a href="/wiki/List_of_proposed_currencies" title="List of proposed currencies">Proposed currencies</a></dt></dl></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: lavender;color: var(--color-base)"><div class="sidebar-list-title-c"><a href="/wiki/History_of_money" title="History of money">History of money</a></div></div><div class="sidebar-list-content mw-collapsible-content"> <dl><dt><a href="/wiki/List_of_historical_currencies" title="List of historical currencies">Historical currencies</a></dt></dl> <ul><li><a href="/wiki/Aksumite_currency" title="Aksumite currency">Aksumite</a></li> <li><a href="/wiki/Achaemenid_currency" class="mw-redirect" title="Achaemenid currency">Achaemenid</a></li> <li><a href="/wiki/Byzantine_coinage" title="Byzantine coinage">Byzantine</a></li> <li><a href="/wiki/Ancient_Chinese_coinage" title="Ancient Chinese coinage">Chinese</a></li> <li><a href="/wiki/History_of_Philippine_money" title="History of Philippine money">Filipino</a></li> <li><a href="/wiki/Ancient_Greek_coinage" title="Ancient Greek coinage">Greek</a></li> <li><a href="/wiki/Coinage_of_India" title="Coinage of India">Indian</a></li> <li><a href="/wiki/History_of_coins_in_Italy" title="History of coins in Italy">Italian</a></li> <li><a href="/wiki/Japanese_currency" title="Japanese currency">Japanese</a></li> <li><a href="/wiki/Roman_currency" title="Roman currency">Roman</a></li> <li><a href="/wiki/History_of_Thai_money" title="History of Thai money">Thai</a></li> <li><a href="/wiki/Historical_money_of_Tibet" title="Historical money of Tibet">Tibetan</a></li></ul> <dl><dt><a href="/wiki/Category:Medieval_currencies" title="Category:Medieval currencies">Medieval currencies</a></dt></dl></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: lavender;color: var(--color-base)"><div class="sidebar-list-title-c">Production</div></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Mint_(facility)" title="Mint (facility)">Mint</a></li> <li><a href="/wiki/Category:Currency_designers" title="Category:Currency designers">Designers</a></li> <li><a href="/wiki/Coining_(mint)" title="Coining (mint)">Coining</a></li> <li><a href="/wiki/Milled_coinage" title="Milled coinage">Milling</a></li></ul> <ul><li><a href="/wiki/Hammered_coinage" title="Hammered coinage">Hammering</a></li> <li><a href="/wiki/Cast_coinage" title="Cast coinage">Cast</a></li> <li><a href="/wiki/Coinage_metals" title="Coinage metals">Metals</a></li> <li><a href="/wiki/Mint-made_errors" title="Mint-made errors">Errors</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: lavender;color: var(--color-base)"><div class="sidebar-list-title-c">Collection</div></div><div class="sidebar-list-content mw-collapsible-content"> <dl><dt><a href="/wiki/Coin_collecting" title="Coin collecting">Coin collecting</a></dt></dl> <ul><li><a href="/wiki/Coin" title="Coin">Coins</a></li> <li><a href="/wiki/Commemorative_coin" title="Commemorative coin">Commemorative coins</a></li></ul> <ul><li><a href="/wiki/Bullion_coin" title="Bullion coin">Bullion coins</a></li> <li><a href="/wiki/Coin_grading" title="Coin grading">Grading</a></li></ul> <dl><dt><a href="/wiki/Notaphily" title="Notaphily">Notaphily</a></dt></dl> <ul><li><a href="/wiki/Banknote" title="Banknote">Banknotes</a></li> <li><a href="/wiki/Commemorative_banknote" title="Commemorative banknote">Commemorative banknotes</a></li></ul> <dl><dt><a href="/wiki/Exonumia" title="Exonumia">Exonumia</a></dt></dl> <ul><li><a href="/wiki/Credit_card" title="Credit card">Credit cards</a></li> <li><a href="/wiki/Jeton" title="Jeton">Jetons</a></li> <li><a href="/wiki/Medal" title="Medal">Medals</a></li></ul> <ul><li><a href="/wiki/Token_coin" title="Token coin">Tokens</a></li> <li><a href="/wiki/Cheque" title="Cheque">Cheques</a></li> <li><a href="/wiki/Scrip" title="Scrip">Scrips</a></li></ul> <dl><dt><a class="mw-selflink selflink">Scripophily</a></dt></dl> <ul><li><a href="/wiki/Stock" title="Stock">Stocks</a></li> <li><a href="/wiki/Bond_(finance)" title="Bond (finance)">Bonds</a></li></ul></div></div></td> </tr><tr><td class="sidebar-below"> <div class="hlist"><ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/4/46/United_States_penny%2C_obverse%2C_2002.png/16px-United_States_penny%2C_obverse%2C_2002.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/46/United_States_penny%2C_obverse%2C_2002.png/24px-United_States_penny%2C_obverse%2C_2002.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/46/United_States_penny%2C_obverse%2C_2002.png/32px-United_States_penny%2C_obverse%2C_2002.png 2x" data-file-width="903" data-file-height="901" /></span></span> </span><a href="/wiki/Portal:Numismatics" title="Portal:Numismatics">Numismatics portal</a></li><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><span><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/16px-Bills_and_coins.svg.png" decoding="async" width="16" height="8" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/24px-Bills_and_coins.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/32px-Bills_and_coins.svg.png 2x" data-file-width="960" data-file-height="465" /></span></span> </span><a href="/wiki/Portal:Money" title="Portal:Money">Money portal</a></li></ul></div></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Numismatics" title="Template:Numismatics"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Numismatics" title="Template talk:Numismatics"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Numismatics" title="Special:EditPage/Template:Numismatics"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p><b>Scripophily</b> is the study and collection of <a href="/wiki/Share_capital" title="Share capital">stock</a> and <a href="/wiki/Bond_(finance)" title="Bond (finance)">bond</a> certificates.<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>a<span class="cite-bracket">]</span></a></sup> A specialized field of <a href="/wiki/Numismatics" title="Numismatics">numismatics</a>, 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 <a href="/wiki/Engraving" title="Engraving">engraving</a>. Occasionally, an old stock certificate is found that still has value, representing actual shares in the original or a successor company. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Scripophily&action=edit&section=1" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size mw-halign-left" typeof="mw:File/Thumb"><a href="/wiki/File:Ezekiel_Air_Ship_stock_certificate_1902.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fd/Ezekiel_Air_Ship_stock_certificate_1902.jpg/220px-Ezekiel_Air_Ship_stock_certificate_1902.jpg" decoding="async" width="220" height="173" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/f/fd/Ezekiel_Air_Ship_stock_certificate_1902.jpg 1.5x" data-file-width="329" data-file-height="258" /></a><figcaption>Ezekiel Air Ship stock certificate</figcaption></figure> <p>Scripophily, the collecting of old stocks and bonds, gained recognition as a <a href="/wiki/Hobby" title="Hobby">hobby</a> around 1970.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2023)">citation needed</span></a></i>]</sup> The word "scripophily" was coined by combining words from <a href="/wiki/English_language" title="English language">English</a> and <a href="/wiki/Greek_language" title="Greek language">Greek</a>. The word "scrip" represents an ownership right and the word "philos" means "to love".<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2023)">citation needed</span></a></i>]</sup> </p><p>Today, there are thousands of collectors worldwide in search of scarce, rare, and popular stock and bond certificates.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2023)">citation needed</span></a></i>]</sup> Whether they are private investors or business people, many collectors enjoy scripophily as a hobby, while others consider it a good form of investment.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2023)">citation needed</span></a></i>]</sup> </p><p>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 <a href="/wiki/Dot-com_company" title="Dot-com company">dot-com companies</a> and companies involved in scandals have become particularly popular amongst scripophilists.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2023)">citation needed</span></a></i>]</sup> </p><p>A recent addition to the hobby of scripophily is collecting shares issued in one's name. Common companies that issue personalized stock certificates include <a href="/wiki/The_Walt_Disney_Company" title="The Walt Disney Company">The Walt Disney Company</a>, <a href="/wiki/Harley-Davidson" title="Harley-Davidson">Harley-Davidson</a>, <a href="/wiki/McDonald%27s" title="McDonald's">McDonald's</a>, <a href="/wiki/Starbucks" title="Starbucks">Starbucks</a>, <a href="/wiki/Google" title="Google">Google</a>, <a href="/wiki/Ford_Motor_Company" title="Ford Motor Company">Ford Motor Company</a>, <a href="/wiki/The_Coca-Cola_Company" title="The Coca-Cola Company">The Coca-Cola Company</a>, and <a href="/wiki/Berkshire_Hathaway" title="Berkshire Hathaway">Berkshire Hathaway</a>.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2023)">citation needed</span></a></i>]</sup> </p><p>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 <a href="/wiki/Standard_Oil_Company" class="mw-redirect" title="Standard Oil Company">Standard Oil Company</a> and signed by <a href="/wiki/John_D._Rockefeller" title="John D. Rockefeller">John D. Rockefeller</a>, <a href="/w/index.php?title=Franklin_Fire_Insurance_Company&action=edit&redlink=1" class="new" title="Franklin Fire Insurance Company (page does not exist)">Franklin Fire Insurance Company</a> certificates signed by <a href="/wiki/Henry_Charles_Carey" title="Henry Charles Carey">Henry Charles Carey</a>, <a href="/wiki/Ringling_Brothers_and_Barnum_%26_Bailey_Circus" class="mw-redirect" title="Ringling Brothers and Barnum & Bailey Circus">Ringling Brothers and Barnum & Bailey Circus</a>, <a href="/wiki/Atari_Corporation" title="Atari Corporation">Atari Corporation</a>, <a href="/wiki/Eastern_Air_Lines" title="Eastern Air Lines">Eastern Air Lines</a> certificates signed by <a href="/wiki/Eddie_Rickenbacker" title="Eddie Rickenbacker">Eddie Rickenbacker</a> when he served as the company's president, <a href="/wiki/Tucker_Corporation" class="mw-redirect" title="Tucker Corporation">Tucker Corporation</a>, and many others.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2023)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading2"><h2 id="As_a_hobby">As a hobby</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Scripophily&action=edit&section=2" title="Edit section: As a hobby"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size mw-halign-left" typeof="mw:File/Thumb"><a href="/wiki/File:Columbia_Pictures_Aktie.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/a/a8/Columbia_Pictures_Aktie.jpg/220px-Columbia_Pictures_Aktie.jpg" decoding="async" width="220" height="151" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/a/a8/Columbia_Pictures_Aktie.jpg/330px-Columbia_Pictures_Aktie.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/a/a8/Columbia_Pictures_Aktie.jpg/440px-Columbia_Pictures_Aktie.jpg 2x" data-file-width="877" data-file-height="600" /></a><figcaption>Columbia Pictures</figcaption></figure> <p>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 <a href="/wiki/Security_(finance)" title="Security (finance)">securities</a>. 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 <a href="/wiki/Common_stock" title="Common stock">common stock</a>, <a href="/wiki/Preferred_stock" title="Preferred stock">preferred stock</a>, <a href="/wiki/Warrant_(finance)" title="Warrant (finance)">warrants</a>, and <a href="/wiki/Bond_(finance)" title="Bond (finance)">bonds</a> of various types. </p><p>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, <a href="/wiki/Vignette_(philately)" title="Vignette (philately)">vignettes</a>, industry, stockbroker, name of company, transfer agent, printer, and holder name are all of interest to scripophilists.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (September 2022)">citation needed</span></a></i>]</sup> </p><p>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 <a href="/wiki/Mining" title="Mining">mining</a> boom in the 1850s, <a href="/wiki/Railroad" class="mw-redirect" title="Railroad">railroad</a> construction in the 1830s, the <a href="/wiki/Oil_boom" title="Oil boom">oil boom</a> in the 1870s, <a href="/wiki/Telegraphy" title="Telegraphy">telegraphy</a> in the 1850s, the <a href="/wiki/Automobile_industry" class="mw-redirect" title="Automobile industry">automobile industry</a> beginning around 1900, <a href="/wiki/Aviation" title="Aviation">aviation</a> 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 <a href="/wiki/Dot-com_era" class="mw-redirect" title="Dot-com era">dot-com era</a> and <a href="/wiki/Enron" title="Enron">Enron</a> all resulted in historically significant certificates being generated and issued.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (September 2022)">citation needed</span></a></i>]</sup> </p><p>Today, stocks and bonds are typically issued electronically,<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2023)">citation needed</span></a></i>]</sup> 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.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2023)">citation needed</span></a></i>]</sup> A number of websites now exist that sell old stocks and bonds.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2023)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading2"><h2 id="Guidelines">Guidelines</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Scripophily&action=edit&section=3" title="Edit section: Guidelines"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure typeof="mw:File/Thumb"><a href="/wiki/File:B%26O_RR_common_stock.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b5/B%26O_RR_common_stock.jpg/200px-B%26O_RR_common_stock.jpg" decoding="async" width="200" height="131" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b5/B%26O_RR_common_stock.jpg/300px-B%26O_RR_common_stock.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b5/B%26O_RR_common_stock.jpg/400px-B%26O_RR_common_stock.jpg 2x" data-file-width="1315" data-file-height="861" /></a><figcaption><a href="/wiki/Baltimore_and_Ohio_Railroad" title="Baltimore and Ohio Railroad">Baltimore and Ohio Railroad</a></figcaption></figure> <p>There are many factors that determine value of a certificate. These include condition, age, historical significance, signatures, rarity, demand for the item, <a href="/wiki/Aesthetics" title="Aesthetics">aesthetics</a>, 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. </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Scripophily&action=edit&section=4" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239009302">.mw-parser-output .portalbox{padding:0;margin:0.5em 0;display:table;box-sizing:border-box;max-width:175px;list-style:none}.mw-parser-output .portalborder{border:1px solid var(--border-color-base,#a2a9b1);padding:0.1em;background:var(--background-color-neutral-subtle,#f8f9fa)}.mw-parser-output .portalbox-entry{display:table-row;font-size:85%;line-height:110%;height:1.9em;font-style:italic;font-weight:bold}.mw-parser-output .portalbox-image{display:table-cell;padding:0.2em;vertical-align:middle;text-align:center}.mw-parser-output .portalbox-link{display:table-cell;padding:0.2em 0.2em 0.2em 0.3em;vertical-align:middle}@media(min-width:720px){.mw-parser-output .portalleft{clear:left;float:left;margin:0.5em 1em 0.5em 0}.mw-parser-output .portalright{clear:right;float:right;margin:0.5em 0 0.5em 1em}}</style><ul role="navigation" aria-label="Portals" class="noprint portalbox portalborder portalright"> <li class="portalbox-entry"><span class="portalbox-image"><span class="noviewer" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/4/46/United_States_penny%2C_obverse%2C_2002.png/28px-United_States_penny%2C_obverse%2C_2002.png" decoding="async" width="28" height="28" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/46/United_States_penny%2C_obverse%2C_2002.png/42px-United_States_penny%2C_obverse%2C_2002.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/46/United_States_penny%2C_obverse%2C_2002.png/56px-United_States_penny%2C_obverse%2C_2002.png 2x" data-file-width="903" data-file-height="901" /></span></span></span><span class="portalbox-link"><a href="/wiki/Portal:Numismatics" title="Portal:Numismatics">Numismatics portal</a></span></li></ul> <ul><li><a href="/wiki/Stock_certificate" title="Stock certificate">Stock certificate</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="Notes">Notes</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Scripophily&action=edit&section=5" title="Edit section: Notes"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-lower-alpha"> <div class="mw-references-wrap"><ol class="references"> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text">"... scripophily, the collecting of stock certificates: a niche hobby<span class="nowrap"> </span>...."<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Scripophily&action=edit&section=6" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239543626"><div class="reflist"> <div class="mw-references-wrap"><ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation web cs1"><span class="id-lock-subscription" title="Paid subscription required"><a rel="nofollow" class="external text" href="https://www.nytimes.com/2021/01/25/style/capitalism.html">"For Sale: Souvenirs of Capitalism's Failures"</a></span>. <i>The New York Times</i>. January 25, 2021<span class="reference-accessdate">. Retrieved <span class="nowrap">July 29,</span> 2022</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=The+New+York+Times&rft.atitle=For+Sale%3A+Souvenirs+of+Capitalism%27s+Failures&rft.date=2021-01-25&rft_id=https%3A%2F%2Fwww.nytimes.com%2F2021%2F01%2F25%2Fstyle%2Fcapitalism.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AScripophily" class="Z3988"></span></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Scripophily&action=edit&section=7" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDrezen1999" class="citation journal cs1">Drezen, Richard S. (December 1, 1999). <a rel="nofollow" class="external text" href="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">"The Art of the Market: Two Centuries of American Business as Seen Through Its Stock Certificates"</a>. <i>Library Journal</i>. <b>124</b> (20): 154. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0363-0277">0363-0277</a><span class="reference-accessdate">. Retrieved <span class="nowrap">July 29,</span> 2022</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Library+Journal&rft.atitle=The+Art+of+the+Market%3A+Two+Centuries+of+American+Business+as+Seen+Through+Its+Stock+Certificates&rft.volume=124&rft.issue=20&rft.pages=154&rft.date=1999-12-01&rft.issn=0363-0277&rft.aulast=Drezen&rft.aufirst=Richard+S.&rft_id=https%3A%2F%2Fgo.gale.com%2Fps%2Fi.do%3Fid%3DGALE%257CA58915895%26sid%3DgoogleScholar%26v%3D2.1%26it%3Dr%26linkaccess%3Dabs%26issn%3D03630277%26p%3DLitRC%26sw%3Dw%26userGroupName%3Danon%257Ef4a4865a&rfr_id=info%3Asid%2Fen.wikipedia.org%3AScripophily" class="Z3988"></span> <span style="font-size:0.95em; font-size:95%; color: var( --color-subtle, #555 )">(subscription required)</span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAccounting_Historians1985" class="citation journal cs1">Accounting Historians, Academy of (Spring 1985). <a rel="nofollow" class="external text" href="https://egrove.olemiss.edu/aah_notebook/vol8/iss1/7">"Accounting history hobbies; Scripophily"</a>. <i>Accounting Historians Notebook</i>. <b>8</b> (1). Academy of Accounting Historians<span class="reference-accessdate">. Retrieved <span class="nowrap">July 29,</span> 2022</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Accounting+Historians+Notebook&rft.atitle=Accounting+history+hobbies%3B+Scripophily&rft.ssn=spring&rft.volume=8&rft.issue=1&rft.date=1985&rft.aulast=Accounting+Historians&rft.aufirst=Academy+of&rft_id=https%3A%2F%2Fegrove.olemiss.edu%2Faah_notebook%2Fvol8%2Fiss1%2F7&rfr_id=info%3Asid%2Fen.wikipedia.org%3AScripophily" class="Z3988"></span> <span style="font-size:0.95em; font-size:95%; color: var( --color-subtle, #555 )">(subscription required)</span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation magazine cs1"><a rel="nofollow" class="external text" href="https://books.google.com/books?id=ugQEAAAAMBAJ&pg=PA51">"The Worth of Worthless Stock Certificates"</a>. <i>Changing Times: The Kiplinger Magazine</i>. August 1981. pp. 51–52.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Changing+Times%3A+The+Kiplinger+Magazine&rft.atitle=The+Worth+of+Worthless+Stock+Certificates&rft.pages=51-52&rft.date=1981-08&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DugQEAAAAMBAJ%26pg%3DPA51&rfr_id=info%3Asid%2Fen.wikipedia.org%3AScripophily" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRegan2019" class="citation web cs1">Regan, Michael P. (July 9, 2019). <a rel="nofollow" class="external text" href="https://www.bloomberg.com/news/articles/2019-07-09/collectors-are-shelling-out-395-for-bear-stearns-stock-certificates">"Collectors Are Shelling Out $395 for Bear Stearns Stock Certificates"</a>. <i>Bloomberg</i><span class="reference-accessdate">. Retrieved <span class="nowrap">July 24,</span> 2023</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Bloomberg&rft.atitle=Collectors+Are+Shelling+Out+%24395+for+Bear+Stearns+Stock+Certificates&rft.date=2019-07-09&rft.aulast=Regan&rft.aufirst=Michael+P.&rft_id=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2019-07-09%2Fcollectors-are-shelling-out-395-for-bear-stearns-stock-certificates&rfr_id=info%3Asid%2Fen.wikipedia.org%3AScripophily" class="Z3988"></span></li></ul> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Scripophily&action=edit&section=8" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1235681985">.mw-parser-output .side-box{margin:4px 0;box-sizing:border-box;border:1px solid #aaa;font-size:88%;line-height:1.25em;background-color:var(--background-color-interactive-subtle,#f8f9fa);display:flow-root}.mw-parser-output .side-box-abovebelow,.mw-parser-output .side-box-text{padding:0.25em 0.9em}.mw-parser-output .side-box-image{padding:2px 0 2px 0.9em;text-align:center}.mw-parser-output .side-box-imageright{padding:2px 0.9em 2px 0;text-align:center}@media(min-width:500px){.mw-parser-output .side-box-flex{display:flex;align-items:center}.mw-parser-output .side-box-text{flex:1;min-width:0}}@media(min-width:720px){.mw-parser-output .side-box{width:238px}.mw-parser-output .side-box-right{clear:right;float:right;margin-left:1em}.mw-parser-output .side-box-left{margin-right:1em}}</style><style data-mw-deduplicate="TemplateStyles:r1237033735">@media print{body.ns-0 .mw-parser-output .sistersitebox{display:none!important}}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sistersitebox img[src*="Wiktionary-logo-en-v2.svg"]{background-color:white}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sistersitebox img[src*="Wiktionary-logo-en-v2.svg"]{background-color:white}}</style><div class="side-box side-box-right plainlinks sistersitebox"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style> <div class="side-box-flex"> <div class="side-box-image"><span class="noviewer" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/30px-Commons-logo.svg.png" decoding="async" width="30" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/45px-Commons-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/59px-Commons-logo.svg.png 2x" data-file-width="1024" data-file-height="1376" /></span></span></div> <div class="side-box-text plainlist">Wikimedia Commons has media related to <span style="font-weight: bold; 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