The Best 'Worthless' Stocks
During the last several years, when major companies have gone bankrupt, news reports have stated that the companies' shares are 'not worth the paper they're printed on'. However, that may not be true. Several companies that have gone bankrupt recently, such as Enron, have stock certificates that are outstanding that are actually worth more than the paper they are printed on.
The hobby of collecting stock certificates started in the late 1960's and the number of collectors has increased every decade. In the past, most collectors preferred the certificates from the 1800's or early 1900's. However, during the last several years, collecting modern collectible certificates has caught on. These are certificates that have no trading or redemption value, but do have value to a collector. Here is a list of a few of the modern bankruptcies, including the slightly less modern Penn Central which went bankrupt in 1970, and their approximate values based on the average prices from auctions over the last couple months.
Global Crossing $49.50
Penn Central $10.50
The key is getting the certificate before the stock becomes completely worthless as a tradable security.