1000 shares of IBM from 1947

Discussion in 'Educational Resources' started by Harry123, Mar 9, 2004.

  1. Harry123


    Hi, I recently just ended up with a windfall shares of IBM from a relative of mine that passed away last week. I had no idea that I was even in the will. When they read the will they said to me that I was to receive the original certificate of my Great Uncle's 1000 IBM. So I did the math real quick and said ok thats about 100 grand. Well after receiving the certificate, I have now found out that this is the ORIGINAL 1000 share certificate and since he held it in a lock box at his bank for the last 50+ years he has never received the split adjusted shares. I figure that there had to be at least 5-10 splits on IBM in the last 50 years. I now legally have the original shares in my name under New York State Law. However, I would guess there is a transfer agent I would have to get in touch with to get all the shares that are due plus a check for all the accrued divdends. I have to guess that when this is all figured it out this must be worth at least 1 million dollars! I will say that we always knew our Great Uncle was wealthy but I didnt realize that he was someone who would keep stock locked up in a saftey box at a bank. A real sign of the times I guess. Either way, I am really pumped up! If anybody would be able to possible give more direction on who to get in contact with and if anybody might have access to what the value of the shares might be worth approximately with all the splits put back in in todays market I would be very grateful. Thanks all.
  2. Call your broker. They should be able to handle it. Or your bank.

    They split about 5x at least.
  3. abogdan


    Start looking for a nice car! I'm really happy for you! What a gift!
  4. Please don't trade it.
  5. Funny like in Fairy Tale :D

  6. gms


    You'll need a copy of your uncle's death certificate. The shares will be sent to the transfer agent to get them placed in your name. Like the above posts wrote, your broker can help you with that. Sorry about your uncle; happy for your new fortune. I'm surprised though that your uncle's executor does not know the value of this stock. There's the matter of the executor having to file your uncle's estate tax return, and these certificates would've been factored as part of the tax basis.
  7. Htrader

    Htrader Guest

    Depending on my rough calculations 1 share of IBM stock in 1947 is worth about 30x-70x shares today. To get the exact number you'll need to get a bloomberg machine.

    So that means your 1000 shares is worth somewhere in the 3-7 million dollar range...

    And your "uncle" left it all this time untouched...
  8. abogdan


    Can you scan it and post the pic? That would be awesome!
  9. pspr


    You may want to contact IBM investor services (check their website). You can probably have them issue the shares, dividends, etc. But, also see about keeping the original canceled certificate. It may have some value itself.