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Posted: 4/24/2002 5:49:44 AM EDT
I just received 2 stock certificates for a total of 327 shares of stocks. I'm in need of cash so I don't want to hold on to the stocks. can you guys please give me some advice about cashing them in? I will be going to an investment firm to cash them unless you guys have a better suggestion. Thanks.
Link Posted: 4/24/2002 6:09:04 AM EDT
I think this is your best bet. Some of the larger corps will issue and buy stock directly (e.g., AT&T bought back some from me), so you might contact them directly and inquiry. This info is often on the websites of the giant corporations that do this kind of thing. So just give them a call and see what they say.
Link Posted: 4/24/2002 6:28:58 AM EDT
Or, you cand deposit them into a discount stock brokerage account (like at etrade.com or ameritrade.com), then sell them. If you don't have one, they're easy to open. Trades are fairly cheap.
Link Posted: 4/24/2002 6:35:24 AM EDT
It depends on how fast you want your cash; and how much you want to pay for the transaction. The cheapest way is an online brokerage where you can sell stock for $10 to $20 for the transaction. (someone like E-Trade). You probably will not be able to sell the stock until they have the certificate in hand, (mailed to them, and signed.) The quickest way is to walk into a brokerage in your town with the certificate and sell that day. You will get a check mailed to you within a week. This is also the most expensive way, (can cost you $100-$200+, depending on the per share value of the stock.) If there are any Discount Brokerage offices near you walk into one of those for a lower transaction fee, (usually less than $100) should be quick to get a check, about a week. Check with banks in your area, some of them have discount brokerages.
Link Posted: 4/24/2002 6:36:33 AM EDT
Some brokerages charge extra for accepting certificates. If you're opening a new account to handle this, ask them how much.
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