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Help with Selling Stock
Old 12-30-2007, 06:22 PM   #1
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Help with Selling Stock

I'm a devout practicioner of MPT, EMT, AA, use low-cost MFs kind of guy, so I'm in unfamiliar territory here...

DW used to work for a company, and has 19 shares of stock. (This is low-tech; it's a paper certificate!) When she left company, the shares were a couple of dollars apiece, not worth selling. Fast-forward to today. Company is now trading in the low $40s.

I have an account with Vanguard, but it's all MFs, no individual stocks. As far as I know, I have no brokerage account there. Assuming DW wants to sell this stock, what's the lowest-price way for me to go about it?
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Old 12-30-2007, 06:52 PM   #2
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The lowest price way is probably to open an account with an ultra-low fee online brokerage and selling them for about $5. I would suggest that you call Vanguard and tell them you have the stock and they will set up a brokerage account that will let you sell them for about $25. You can then move the cash into your Vanguard accounts.

Your wife will have to sign the certificates and send them to Vanguard.
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Old 12-30-2007, 09:06 PM   #3
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Lowest price way to get rid of this stock is to give it to charity. Call up your charity and they will tell you where to mail the stock certificate.
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Old 12-30-2007, 09:16 PM   #4
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LOL!,

Not quite the question I asked - what is the cheapest way to sell the stock, not to get rid of it.
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Old 12-30-2007, 10:50 PM   #5
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ticktock, of course i know that. But you are only talking about $800 or so. Not a bad amount to donate to your church, your local PBS or NPR station, the Red Cross, Salvation Army, World Vision, Habitat, Make-A-Wish, etc. And you won't have to figure out cost basis, etc.
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Old 12-31-2007, 09:16 AM   #6
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I had some stocks (in the form of numerous paper certificates in the back of my socks drawer), that my mother bought for me back in the 1980's. In 2003, I took all the certificates down to the local ScottTrade office and they sold it for a very small fee. I think it was less than $10 though I could be wrong (call them and find out?). Quick and easy, too. It turned out that they were worth $16K.
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Old 12-31-2007, 09:41 AM   #7
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Quote:
Originally Posted by TickTock View Post
Assuming DW wants to sell this stock, what's the lowest-price way for me to go about it?
Since she's a former employee, will the company buy the shares back from her?
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Old 12-31-2007, 10:16 PM   #8
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Huh, didn't think of that. Worth a call.
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Old 12-31-2007, 10:20 PM   #9
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I had paper shares of WM that I received for a graduation gift through a DRIP fund. I logged on to the company, found the company that manages these funds and followed their instructions for redeeming the certificates. Painless.
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