Selling paper shares
Discussion
I am not very knowledgable on this subject so I know there will be someone who is on here if you could help.
I have about 550 shares in paper share certificate in Lloyds through equiniti. They have said minimum £70 fee to sell those which seems excessive considering what they are worth.
Are there any better or cheaper ways to sell? I have some shares on 212 and my plan was to swap these to them but they said they can’t do it.
I have about 550 shares in paper share certificate in Lloyds through equiniti. They have said minimum £70 fee to sell those which seems excessive considering what they are worth.
Are there any better or cheaper ways to sell? I have some shares on 212 and my plan was to swap these to them but they said they can’t do it.
You can open a General Investment Account (GIA)/Trading Account at the likes of Hargreaves Lansdown/AJ Bell and place them in by mailing the share certificates to them. Usually free to open the account and hold shares in those GIAs. You just have to pay a dealing fee when you come to sell.
I last had to do this about ten years ago when I inherited some shares held in paper and parchment...!....from my late dad. Interactive Investor handled the deal for me, but I have no idea if they still offer the service.
My mate Fat Derek, of whom regular readers will be aware, goes cruising, In order to obtain 'free' on board spending he needs to hold shares in the cruise company....paper shares, not via CREST, so paper shares are still traded and available. FD has not disclosed what he had to pay for his cruise company paper shares, though!
My mate Fat Derek, of whom regular readers will be aware, goes cruising, In order to obtain 'free' on board spending he needs to hold shares in the cruise company....paper shares, not via CREST, so paper shares are still traded and available. FD has not disclosed what he had to pay for his cruise company paper shares, though!
ferret50 said:
My mate Fat Derek, of whom regular readers will be aware, goes cruising, In order to obtain 'free' on board spending he needs to hold shares in the cruise company....paper shares, not via CREST, so paper shares are still traded and available. FD has not disclosed what he had to pay for his cruise company paper shares, though!
A late uncle of mine would buy shares in companies who sold things he wanted to buy, just to get the 10% discount etc. I suppose you could regard that as a 10% gain!ferret50 said:
I last had to do this about ten years ago when I inherited some shares held in paper and parchment...!....from my late dad. Interactive Investor handled the deal for me, but I have no idea if they still offer the service.
My mate Fat Derek, of whom regular readers will be aware, goes cruising, In order to obtain 'free' on board spending he needs to hold shares in the cruise company....paper shares, not via CREST, so paper shares are still traded and available. FD has not disclosed what he had to pay for his cruise company paper shares, though!
During COVID 100 Carnival shares would have cost about £500. Take a two week P&O cruise and this gets you £150 on board credit. My mate Fat Derek, of whom regular readers will be aware, goes cruising, In order to obtain 'free' on board spending he needs to hold shares in the cruise company....paper shares, not via CREST, so paper shares are still traded and available. FD has not disclosed what he had to pay for his cruise company paper shares, though!
Buying shares for the perks is generally a bad idea but take advantage of abnormal situations and it can work out well…
Mad Maximus said:
I am not very knowledgable on this subject so I know there will be someone who is on here if you could help.
I have about 550 shares in paper share certificate in Lloyds through equiniti. They have said minimum £70 fee to sell those which seems excessive considering what they are worth.
Are there any better or cheaper ways to sell? I have some shares on 212 and my plan was to swap these to them but they said they can’t do it.
If they are Lloyds Bank Ordinary they are worth about £385? By the time you have paid £9 for Special Delivery to post them to Hargreaves Lansdown & the £12 dealing fee you're only saving £50 so it may be just simpler to pay the £70 to get rid of them. You need to insure them for at least the full value when posting as if they get lost the cost of replacing them is ludicrously high.I have about 550 shares in paper share certificate in Lloyds through equiniti. They have said minimum £70 fee to sell those which seems excessive considering what they are worth.
Are there any better or cheaper ways to sell? I have some shares on 212 and my plan was to swap these to them but they said they can’t do it.
Mr Pointy said:
Mad Maximus said:
I am not very knowledgable on this subject so I know there will be someone who is on here if you could help.
I have about 550 shares in paper share certificate in Lloyds through equiniti. They have said minimum £70 fee to sell those which seems excessive considering what they are worth.
Are there any better or cheaper ways to sell? I have some shares on 212 and my plan was to swap these to them but they said they can’t do it.
If they are Lloyds Bank Ordinary they are worth about £385? By the time you have paid £9 for Special Delivery to post them to Hargreaves Lansdown & the £12 dealing fee you're only saving £50 so it may be just simpler to pay the £70 to get rid of them. You need to insure them for at least the full value when posting as if they get lost the cost of replacing them is ludicrously high.I have about 550 shares in paper share certificate in Lloyds through equiniti. They have said minimum £70 fee to sell those which seems excessive considering what they are worth.
Are there any better or cheaper ways to sell? I have some shares on 212 and my plan was to swap these to them but they said they can’t do it.
Appreciate the input from everyone.
Not worth keeping in the hope of the price rocketing, or even a modest gain?
I bought Rockhopper Oil around maybe 20 years ago at around £3.50 a share, only a couple of hundred of them.
They started plummeting but I didn't panic, rode them all the way down to 5p
Found the paperwork when I was having a sort out the other day.
Have recently jumped to 40p, so wish I'd bought more at 5p.
Having faith, may get my money back before I die
I bought Rockhopper Oil around maybe 20 years ago at around £3.50 a share, only a couple of hundred of them.
They started plummeting but I didn't panic, rode them all the way down to 5p
Found the paperwork when I was having a sort out the other day.
Have recently jumped to 40p, so wish I'd bought more at 5p.
Having faith, may get my money back before I die
Edited by croyde on Monday 5th May 16:57
Simpo Two said:
How did they do this in the days when everything was paper? Somehow people bought and sold shares and the costs must have been reasonable.
You could walk into a high street bank and ask them to sell your paper shares before all the branches closed and services rationalised. My uncle had small parcels of shares from 8 companies with varying degrees of paperwork which I helped him to sell but it was a learning experience as I didn't know anything about share dealing.
As my uncle did not use email it was helpful that regular share holder communications arrived by Royal Mail and over the years a massive stack of paperwork had accumulated. Unfortunately he has a habit of opening an envelope and reading the contents and then popping the letter back in the envelope for keeping so it took ages to sort though the paperwork.
In the future as everything goes electronic without a physical paper trail I am sure that many accounts will be forgotten and lost.
It was pleasing that Equiniti were able to confirm the holdings and amounts but certain indemnities and charges were required due to missing paperwork.
Lloyds have something called the drip which seems to pay dividends by topping up with more shares and as a result a new set of share certificates arrive every few months which is difficult for octogenarians to keep track of.
My uncle was victim of the Thatcher privatisation and share ownership initiatives and the effort to liquidate was out of proportion to the monetary value.
As my uncle did not use email it was helpful that regular share holder communications arrived by Royal Mail and over the years a massive stack of paperwork had accumulated. Unfortunately he has a habit of opening an envelope and reading the contents and then popping the letter back in the envelope for keeping so it took ages to sort though the paperwork.
In the future as everything goes electronic without a physical paper trail I am sure that many accounts will be forgotten and lost.
It was pleasing that Equiniti were able to confirm the holdings and amounts but certain indemnities and charges were required due to missing paperwork.
Lloyds have something called the drip which seems to pay dividends by topping up with more shares and as a result a new set of share certificates arrive every few months which is difficult for octogenarians to keep track of.
My uncle was victim of the Thatcher privatisation and share ownership initiatives and the effort to liquidate was out of proportion to the monetary value.
Actual said:
In the future as everything goes electronic without a physical paper trail I am sure that many accounts will be forgotten and lost.
It seems inevitable. What does the industry do in such cases or does the money if not claimed eventually go to the Crown? 'Bona vacantia'?Actual said:
My uncle was victim of the Thatcher privatisation and share ownership initiatives...
Victim?Edited by Simpo Two on Tuesday 6th May 14:38
I had certificated Tesco shares held through Equiniti until last year. About £300 worth from when I was a student and they offered a share scheme.
I was able to send in the certificates to be moved into a CSN account, without a fee.
Next, they will allow you to transfer the shares out of the CSN without a fee if you do so within 90 days of the shares being in the CSN. See Equiniti Form E .
I transferred to a Freetrade GIA, then bed & ISA'd into my S&S ISA.
Total cost was the postage of certificated shares!
I was able to send in the certificates to be moved into a CSN account, without a fee.
Next, they will allow you to transfer the shares out of the CSN without a fee if you do so within 90 days of the shares being in the CSN. See Equiniti Form E .
I transferred to a Freetrade GIA, then bed & ISA'd into my S&S ISA.
Total cost was the postage of certificated shares!
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