Share Certificates

[Everhelpful]

I seem to have lost my Share Certificates when I moved House, Is it possible for someone to cash them in without my knowledge? Thank You for any replies.

[237SJ]

No but you need to contact the share registrars.

[Everhelpful]

Thanks 237SJ,I hope you are right, I will contact Registrars tomorrow.

[Peter Pedant]

erm not really
they re not like postal orders

you would have to simulate your signature
and then they would have to get hold of the cheque in your name
( sent to the old address but that is a bit incriminating )
and they would have to cash the cheque in your name

so the answer is sort of no

[Everhelpful]

Thanks Peter,a weight off my mind.!!

[New Judge]

When you get them sorted out it might be an idea to consider a "nominee account" for your shares. Most banks and stockbrokers run them. They hold the shares on your behalf (rather like a bank account only with shares instead of cash). You don't have share certificates to lose, your rights to dividends, etc. are unaffected and selling them is much easier and usually cheaper.

[nungate]

I used to work in a share registrars office, many years ago. I'm pretty sure they couldn't be cashed in. The shareholders in the companies whose registers we held, would contact us to advise us of address changes and also of lost certificates. Duplicates were often issued and the details of the original certificates noted and cancelled so you ought to be fine. Just contact the registrar and let them know of your change of address (if you haven't already done so) and also tell them of the lost certificates and ask for a duplicate

[Everhelpful]

Thank You NJ and nungate for your replies,very helpful.

[Old_Geezer]

Surprised it isn't all computerised now with the paper ones just being for the information of the owner.

In my limited experience on shares they send so much paperwork and replacement stuff and A shares and B shares and XYZ shares it's difficult to know what to keep anyway. I think they do it to confuse. Must be easy to sling the wrong thing. Certainly easy to keep everything, have a mountain of paperwork most of which is probably not worth keeping, and never being able to find what you want in it.

[Everhelpful]

OG,couldn't agree more,then I wouldn't have all this hassle.

[New Judge]

That's really what a "nominee account" is, EH. Your shares are held electronically, communications are sent electronically. In the same way that a bank does not physically keep "your" £5 notes in its vault, those holding your shares do not keep your share certificates (as none are issued). It's all done scientifically. Works a treat. If you're over 50 Saga do a very good share dealing account. If you're a youngster most of the big banks operate similar schemes:

https://www.sagasharedirect.co.uk/

You can put all your shares into it and can also buy and sell very reasonably if you want to (though there is no charge if you make no deals).

[Everhelpful]

Thanks again,NJ,will have a look at Saga,unfortunately I am now 74 and am looking to cash in my Shares.

[New Judge]

Then the Saga account may help,EH.

Take a look at the costs involved in selling shares and you will find they are considerable, especially if you hold paper share certificates. If you open something like a Saga account you transfer your shares into it (relinquishing your share certificates) and you can then sell whenever you like. They charge £11.95 per deal (regardless of the amount involved) and this reduces if you deal more than 10 times in a quarter. You can also deal either online or by phone (phone transactions are a little more expensive) and you can follow your share prices and deal when you like, setting limits if you want to.

If you look at some brokers it may cost you 1.5% to 1.75% of the value of the deal often with a fairly hefty minimum to deal in paper share certificates.

[Everhelpful]

Still looking for my Certificates,NJ,my Daughter thinks she may have them at her work,will definitely do as you suggest,if and when I find them. Thank You again for your help.