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What if the above sources don't help? Certain records are kept by the state under whose laws the company was incorporated. Be aware that the state of incorporation and the state in which the company is located may not be the same.

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The hobby of collecting old stock and bond certificates is called scripophily (pronounced scri-POPH-i-ly). Some stock certificates that are worthless as securities may have value as collectibles:

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Oftentimes companies are bought out by or merged with other companies, and their names change. If this happens, a stock certificate may be worth something as a security.

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It's a good idea to check business, city, and phone directories and periodical indexes. Consult both current and previous indexes which cover the time period when the company was active.

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The lack of a record doesn't mean that the company no longer exists. It may have abandoned its charter in one state and reincorporated in another. Records are not cross-referenced among different states, so the original state of incorporation may not be able to tell you if a company has relocated.

Some stock search firms charge as much as $75 per company and use many of the same sources located at your local library. However, these companies can search records in other places not accessible to libraries, such as bankruptcy courts and state unclaimed property offices. Remember that some companies may have generated and retained their own records over a period of many years.

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What do you do if you have a stock certificate? The first step to determine the value of the stock is to see whether or not the company still exists.

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If this happens, chances are that the certificate has no value as a security, but there is a chance that the certificate is worth something as a collectible.

If you discover that a company has merged into or been acquired by a company that currently exists, contact the successor company's investor relations or shareholder services department about redeeming the stock.

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If you still can't find what happened to a company using these sources, you may choose to have the stock of incorporated companies searched by a fee-based company that specializes in that kind of research. For names and addresses of stock search firms, go to the Goldsheet Obsolete Securities Page mentioned above.

The presence of a stock certificate means that a company has incorporated, but it does not necessarily mean that information will be readily available or that a company is public.

Your local library may have print and online sources that will help you find out, in what form, and if its stock still has value.