Stocking Up with Scripophily
Once office paperwork, scripophily is gaining new attention as collectors rediscover stock certificates as both historical records and works of art.
At recent auctions, loose sheets of scripophily that were once filed away in an office have been pulled out of desk drawers and put into the collections of paper money collectors.
Initially created as documents of equity and debt, scripophily now holds a dual identity as an archival record and, at times, an object of art. “Each certificate is a piece of history about a company and its business,” explains the International Bond & Share Society’s website. “The color, paper, signatures, dates, stamps, cancellations, borders, pictures, vignettes, industry, stockbroker, name of company, transfer agent, printer, and holder name all add to the uniqueness of the hobby.” According to the International Bond & Share Society, the collecting of scripophily gained momentum around 1970 and has since evolved into a dynamic field.
Courtesy of Archives International Auction.
Stock shares ranging from chocolate to American mining industries were for sale at the December 16, 2025, U.S. & World Banknotes, Scripophily, Coins & Ephemera Archives International Auction (AIA) event. Among the items sold was a 1901 25 shares preferred stock I/C certificate (Fine to VF condition), bought for $200. Made out to and signed by Milton Hershey of Hershey Chocolates, this certificate is the result of a merger of caramel makers.
Courtesy of Archives International Auction.
A $75 winning bid went for a 1884 500-share I/U stock certificate (Choice VF condition or better) from the La Fave Mining & Milling Company in Leadville, Colorado, which operated during the state’s silver boom of the late 1800s. Decorated in black and gold, with a filigree-printed border, an embossed gold corporate seal sits at the lower left, near signatures from a company president and secretary.
Courtesy of Spink.
Stock certificates were also found at Spink’s China, Hong Kong, and World Banknotes January 2026 online auction. Selling in the CSS120A section of the sale on January 10 was scripophily, such as a 1935 Chinese 50-share certificate from Bank of Communications (repaired, fine, quite rare nonetheless), that sold for HK$1,500. The certificate, written in blue ink, shows coupons and revenue stamps.
Courtesy of Spink.
Just as seen at AIA, coal mining certificates were also offered at Spink’s event. A high-selling example was a 1920 Po Tung Coal Mine Company Ltd certificate (very fine) for 60 shares, sold for HK$9,000. Featuring scrollwork, it depicts a scenic Chinese village as the sun rises above.
More information about Spink’s China, Hong Kong, and World Banknotes January 2026 online auction can be found at spink.com. The results of the December 16, 2025, U.S. & World Banknotes, Scripophily, Coins & Ephemera Archives International Auction sale are at archivesinternational.com.
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