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12-30-2007, 06:22 PM
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#1
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Full time employment: Posting here.
Join Date: Oct 2007
Posts: 511
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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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TickTock Rule Of Finance - heavily discount any promises of money/benefits to be paid to you in the future
"I've traded love for pennies, sold my soul for less" -Jim Croce, Age
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12-30-2007, 06:52 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Mar 2006
Location: Houston
Posts: 4,337
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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.
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
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12-30-2007, 09:06 PM
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#3
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2005
Posts: 10,252
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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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12-30-2007, 09:16 PM
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#4
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Full time employment: Posting here.
Join Date: Oct 2007
Posts: 511
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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.
__________________
TickTock Rule Of Finance - heavily discount any promises of money/benefits to be paid to you in the future
"I've traded love for pennies, sold my soul for less" -Jim Croce, Age
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12-30-2007, 10:50 PM
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#5
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2005
Posts: 10,252
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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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12-31-2007, 09:16 AM
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#6
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,315
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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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12-31-2007, 09:41 AM
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#7
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,853
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 Quote:
Originally Posted by TickTock
Assuming DW wants to sell this stock, what's the lowest-price way for me to go about it?
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Since she's a former employee, will the company buy the shares back from her?
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12-31-2007, 10:16 PM
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#8
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Full time employment: Posting here.
Join Date: Oct 2007
Posts: 511
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Huh, didn't think of that. Worth a call.
__________________
TickTock Rule Of Finance - heavily discount any promises of money/benefits to be paid to you in the future
"I've traded love for pennies, sold my soul for less" -Jim Croce, Age
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12-31-2007, 10:20 PM
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#9
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Full time employment: Posting here.
Join Date: Dec 2006
Location: Florida
Posts: 854
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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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I would not have anyone adopt my mode of living...but I would have each one be very careful to find out and pursue his own way, and not his father's or his mother's or his neighbor's instead. Thoreau, Walden
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