Scripophily

Securities or Nonvaleurs (of French non [ nɔ ], " not "; valeur [ valœʀ ], "value") are become worthless ( and in this sense historical ) securities on any stock exchange and can be traded consequently more. Such former securities (or certificates) can be purchased only as a collector item or for decoration purposes. Rare still outstanding securities having a particularly low rating are called Nonvaleurs (see also: penny stocks ).

The passion for collecting Nonvaleurs is called Scripophilie ( [ ˌ skripofili ː ] ).

History of securities and the Scripophilie

Comparisons: history of stock

Industrial financed before the time the stock market their most private projects through securities. 1602, the East India Company was founded as the first public company. The oldest surviving stock certificate is from the year 1606. Securities as of commerce were common, as speculated in 1784 Johann Wolfgang von Goethe with a stake in Ilmenau copper and silver mine on the commodities market. Early records, usually decorated with coats of arms and seals were often printed on handmade paper or animal skin.

Appealing design of shares - the former editor as a method of customer acquisition importantly - attracts interested in art collectors. Limited companies went on to commission artists to the design of shares. Painter, engraver, printmaker, lithographer and engravers were allowed to perpetuate the shares known companies. Sütterlin Ludwig (1865-1917) created the first certificates of Siemens & Halske AG, Ramon Casas (1866-1932) drew the Italian actress Teresa Mariani to the shares of the Spanish La Hispano Suiza Fabrica de Automobiles SA and Paul Cauchie (1844-1952) Art Nouveau styled the applicable today as a top securities " Hortus " ( Hortus Société Cooperative Cie. Horticole de Genval et Extensions).

American railway stocks swooned on by steel engravings, representing the locomotives from the early days, people vignettes and landscape scenes. Many American stocks also bear the original signatures of its board or the shareholders. Shares with the signature as John D. Rockefeller and Thomas Edison are sought about today.

Documents from the time of the stock market and dizziness founding the years 1870 to 1873 show manipulation possibilities that were repeated in later crises in the stock market.

Almost all European cities participating in the 19th and 20th centuries investors at their zoos. The highly decorative securities promised a dividend of a special kind: they usually entitled to free zoo visit. Some of the papers, such as the Hellabrunn Brunn, are still valid today.

Shares, receipts, bonds, warrants, Physical securities, mining shares, checks and other securities business, and related documents ( Course sheets, statutes, etc ) therefore demonstrate for centuries the history of the financial world. Collected they were not. From numismatics and related Notaphilie the area has largely been overlooked. It was not until the early 1970s, the passion for collecting spread out for old securities of the United Kingdom. 1978 was marked by the London Times, the concept of Scripophilie formed from english scrip, " deposit slip " and ancient Greek φίλος philos, " friend, lover ."

In the former Reichsbank in Berlin around 28 million outsourced Historic Papers from the period before 1945. Papers stored in the Reichsbank survived in the eastern part of Berlin, the post-war period and the GDR. After the fall of the papers went after clarification of all open claims on the BADV. In 2001, the examination of the claims was completed, so now the not required rms securities in favor of the compensation fund should be used to the best. With the recovery then a numismatic auction house was commissioned. In five auctions in the years 2003-2009, all of these papers were systematically auctioned at up to 400 auction participants approximate.

In the era of electronic stock trading printed, physical securities delivered are increasingly rare; usual, global certificates or simply Depot receipts. With the introduction of the euro and the par value share also went with the Securities end of an era: DM -denominated securities. The collecting area is now complete and has since been developed thanks to more favorable prices.

Since 2011, the Journalism Prize is awarded " Securities and financial history."

Preservation and acquisition

As with other collectibles conservation plays a big role in antique stocks and bonds. In recent years, a letter system has been established, which comes from the Anglo-Saxon world: UNC stands for " uncirculated ", ie for a flawless and mint condition. Papers, which are referred to as EF ( extremely fine ), have only minimal signs of use and are also in great demand accordingly. Pieces with the preservation of VF ( very fine ) may well have creases and minor edge tears. Spots are possible. Exhibits the quality F ( fine) exhibit strong traces of use. They are usually folded repeatedly have tears and require a professional restoration.

Besides the exchange among collectors, and the discovery of old papers in family allowances and attics there are many ways to acquire such securities. Both on the platforms of various online auction sites as well as in the online stores reputable dealer will offer a wide range gängigerer securities. Exclusive papers or even rare one usually buys on the approximately twenty of reputable auction houses annually organized auctions. As a price ceiling the specifications will be in Suppes catalog and the GET catalog, is traded at prices lower.

Decoration

Securities may also serve as non- collectors memorabilia or wall decoration. Framed certificates can be an original idea.

Collect

Securities - ie equity and bond certificates from the past - are enjoying a growing popularity. Unlike many other collection areas Passion for Securities was - not discovered until the mid-1970s - the Scripophilie. The number of collectors is growing steadily, because the majority being unlike, say, in coins or stamps at the old securities to a closed collection area. Hardly any company can still print stock certificates effective today.

Availability

The variety of historical securities is large. It is estimated that more than 30,000 different antique stock and bond there alone from Germany. Worldwide, there are likely to be more than 100,000. As varied as the range, so different are the collections.

It is true - for example, compared to stamps and coins - always note the following difference: for securities, the requirements are usually less than 1,000 or even only a few 100 pieces per issue. Available are often even only ten to 15 certificates from a variant. And yet most papers rarer still at prices less than 1,000 euros and the majority in much more affordable price regions are appearing.

Given the different and sometimes overlapping collections prevails among collectors although competition, but papers are often in greater numbers on the market available. Who collects papers under the appreciation and conservation of value aspect, it should be ensured that it is important papers with low availability at the pieces. Papers with lower circulation promise as well as a comprehensive collection as possible on a subject appreciation potential. Investors should, however, think in decades.

Collections

Collectors is recommended that early set to a defined area, ideally led by other interests and hobbies.

Securities are usually collected from a certain era. More classical approaches are collecting by Industry ( popular as a result of overlapping areas of interest: Breweries, automobile stocks, railway companies, zoos, banks) and by region, and territorial limits or monetary matters.

More difficult is the collection designed by very specific criteria, such as after the artist who designed the stock; after famous personalities as autographs or depicted motifs. Other approaches are conceivable, as well as collecting a certain number.