Scripophily




"The range of themes is almost endless since bonds and
shares reflect almost every aspect of economic history..."
Referred to by many as Scripophily, the collecting of historical stock certificates and bonds has become a serious endeavor for many enthusiasts who have spent decades in the development of their collections. The collecting of bonds and shares affords us the opportunity of spending a moment in time with some of the nation’s most esteemed and successful figures in American history who have owned and signed these certificates. It offers us a window on the historical development of the American capital markets while simultaneously providing a great deal of personal satisfaction in the acquisition of many important and rare items. Preservation of these important source documents of American financial history remains a cornerstone of the goal of our society. It is our hope that future generations will benefit from the efforts of today’s collectors whose passionate inspiration has enabled our hobby to grow and prosper. We invite you to join us in our fascinating journey through American history as we focus on the highly important aspect of capital formation and finance.
"Most collectors soon see the wisdom of choosing a theme to collect..."
Resources For the Collector
Numerous resources are available for the new collector to learn more about the hobby of scripophily. Many books have been written and websites abound with information that is easily accessible and extremely helpful to the newcomer and experienced collector alike. Below is a short list of books that have been published which offer a beginning.
Stocks And Bonds Of American Railroads 3rd Edition
Stocks and Bonds of American Railroads 3rd Edition by Terry Cox. 2018. Over 10,000 varieties of railroad stock certificates and bonds are described and priced. Eleven initial chapters and five appendices give considerable information and guidance for collectors. Illustrations. 561 pages. Softbound.
The Art Of The Market
Art of the Market by Bob Tamarkin & Les Kranz with commentary by George H LaBarre, 1999, 176pp, fully illustrated I color, hardbound. Two centuries of American business as seen through its stock certificates. Bob Tamarkin was nominated 3 times for a Pulitzer Prize. Brilliant text and a visual delight.
Historic Stock Certificates Usa
Historic Stock Certificates USA by Hans Braun, Germany 1996, 295pp. A Superb Book, Hardbound. Profile of the US economy from 1600-1972, including important events in economic history. Covers transportation, banking, and finance. Fully illustrated with color photographs of exceptional stocks.
Historic Stock Certificates Europe
Historic Stock Certificates Europe by Hans Braun, Germany 1996, 326pp. A Superb Book, Hardbound. Profile of the European economy from 1803-1957, including important events in economic history. Covers Belgium, Bulgaria, Denmark, and Germany. Fully illustrated with color photographs of exceptional stocks.
Georgia Railroad Paper
Georgia Railroad Paper by Gary Eubanks with histories by Steve Storey. Published by Wharton Mangement, Inc. A superb, comprehensively illustrated work detailing stock certificates, bonds and currency issued by railroads which operated in Georgia. Each item is illustrated in full color with details on the company’s history. 211 pages, illustrated, soft cover.
Financing The American Revolution
Financing The American Revolution by Prof. Dr. Udo Hielscher. Professor Udo Hielsher's book on the origins of Wall Street and the American Revolution through contemporary financial documents from the Museum of American Financial History's collection. Illustrated, with introduction by Thomas Fleming, author of Liberty! The American Revolution. Paperback. 89 pages.
Confederate Bonds Second Edition
Confederate Bonds Second Edition by Grover C. Criswell Criswell’s & Criswell’s Publishing, FL, 1979, Second Edition, 374 pp. Hardbound book with descriptions and photographs of Confederate and Southern Bonds by State.
Antique Stock Certificate Almanac 2005
The Antique Stock Certificate Almanac 2005 written by Fred Fuld III. This Almanac is a reference source with over 5,000 listings which include company name, whether issued or cancelled, date, state or country, vignette, signatures and value. Published by Author-House 249pp.
American Railroad Stock Certificates
American Railroad Stock Certificates by Anne-Marie Hendy Approximately 300 railroad stock certificates are pictured and described. Older price guide at the end in British pounds. Published by Stanley Gibbons Publications Ltd.168 pages. Hardbound with plastic cover.
American Automotive Stock Certificates
American Automotive Stock Certificates by Lawrence Falater BR Press, Port Clinton, OH, 1997, 400pp. Book. Hard cover collectors' guide with values, many full page photographs, and descriptions of North American automotive stock and bond certificates.
The Value of America's Great Fortunes
Professor Dr. Udo Hielscher's book "The Value of America's Great Fortunes - A U.S. Fortune Evaluation Index 1800-2000 Illustrated With Historic Securities". Published by the International Bond and Share Society, the book offers an interesting discussion of the value of many of America's great fortunes through his "Fortune Evaluation Index", a formulaic system of weighting fortunes based upon a series of calculations accounting for the value of the dollar and its purchasing power throughout the 200 year period. Securities signed by many of America's wealthy historical figures are pictured along with fine historical content on the individual and the company's history. This 96 page book offers up a fine introduction to collecting autographed securities along with a compelling argument for the ranking of America's great fortunes.
"The range of themes is almost endless since bonds and shares reflect almost every aspect of economic history. Many collectors favor obvious themes such as railroads, autos or mining, but these offer a very wide range of material and some further specialization may be desirable. In the case of railroads, collectors often choose their own country or region. Autos are often collected by country or date. Mining collectors choose either their country/region or a type of mining - gold, diamonds, coal, etc. The smaller fields - oil, tobacco, tramways, textiles, engineering, electricity, water, coffee, tea and a hundred others - are small enough for a collector to build a worldwide collection…A cheaper option is to limit oneself by country and dates as well as theme. An example of such a limitation is "New England railroads pre-1900."
"Some collectors want autographs of famous persons on certificates - often found on US shares and sometimes on European pieces as well. Many include businessmen such as Wells and Fargo, Vanderbilt, Rockefeller, J. P. Morgan and the Rothschilds…"
"New collectors often ask how one knows what is a fair price for a certificate. Most collectors are content to be in the low end of this range, say $10 to $500 or $1,000. As in all collectibles, prices are determined by supply and demand. So what influences supply and demand? Most would list the following: Beauty, Age, Rarity, Topical interest, Issued versus Unissued, Historical Significance, Autographs."
"New collectors often comment on the elaborate borders on bonds and shares. Some are individually engraved, but the majority are printed by a process, invented in the USA in the middle of the 19th century, in part to frustrate forgers. This used a geometrical lathe, creating an almost limitless variety of possible border designs, and making duplication almost impossible without the substantial investment available to the security printers."
"There is no doubt that companies used their certificates to present an impression of the company; a striking piece, well printed on high-quality paper gave a much better impression than something obviously much cheaper."
The Scripophily Guide, published by the International Bond and Share Society. This 32 page guide is a wonderful resource for those interested in gaining a great deal of basic and helpful information on the wonderful hobby of stock and bond collecting.




"The National Stock and Bond Show was a remarkable experience! The selection of historical certificates and bonds was phenomenal. Highly recommended for collectors!"
★★★★★