How do I sell a Certificate of Stock?
Question:
Does anyone know what I'm looking at in terms of fees, and ease of completion?
Thank you very much.
Dave
Answer:
This should be a very straightforward and relatively inexpensive process.
You need to deal with a broker - whether it is a full-service broker, a bank, or a discount broker - and open an account
You would deposit the certificate in the account and issue a sell order.
When the sale clears (3 days) you can take your money.
You want to watch for any account opening fees, any account closing fees, and the commission on the sales.
If you have a local Scottrade branch, it will cost you $7 total - the commission for the sale, without any other fees.
Many brokers will work with you, and waive fees, etc., given it is a single certificate and it is a one-off deal.
ease of completion isn't that bad it depends how many stocks you have listedon the certificate. For fees and other info you would be better off asking that particular web site (etrade) that question. Some requires a deposit to open an account.
However your local bank may be able to help out as well if its only a small share amount.
If you are selling just that one stock, check with your bank. Most banks will handle the transaction for you. The fee might be a little more but for a one time transaction, it is probably the best bet.
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