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Electronics Limiting Supply Of Antique Stock Certificates
By Cole Cawley
Dematerialization and controlled destruction. These are two terms a collector of stock certificates
must now know. The effect of these two words is to create a situation for the collector where the supply
of available certificates in the marketplace will be declining over time. There will be fewer certificates
printed initially and any cancelled tickets will be destroyed more quickly.
Dematerialization itself is when paper stock certificates are no longer being issued. Paper stocks were
initially important was because the investor wanted to have a piece of paper in their name, not the
broker's. Today, the ability to record this information electronically and in a timely and secure manner
creates efficiency and avoids the high cost to the issuing company of paper certificates.
This cost of issuing paper certificates continues to rise. To go through a broker, not only must the
trading price of the stock be paid, but the broker's commission fee and the stock issuance fee (which
can go as high as $100 per certificate) are also charged. You can see how the age of computers has
definitely affected how stock certificates are issued. Certificates are decreasingly beautifully printed
and engraved physical documents. They are often reduced to bytes and bits.
On the other hand, the computerization of stock ownership records eliminates the necessity of
physically moving the certificates around. This computerization has reduced the opportunity for fraud
(nefarious individuals would gain acces