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In 1987 I won one share of First Union Corp. common stock in a local tennis tournament. How can I redeem this stock?

Austin Suther
StarNews

First Union merged with Wachovia in 2001, and Wells Fargo acquired Wachovia in 2008. There are now several possible solutions to redeem First Union stock. One is to speak to a local Wells Fargo branch.

A Wells Fargo representative confirmed that the share would be a share of Wells Fargo. “They can cash the certificate in, they just have to go through Computershare.” Computershare is an Australian stock company that operates worldwide. If the winner did not claim the prize at the time, it has been forfeited because of its age.

If the winner has the paper certificate, an alternative may be to hand over the certificate directly to a broker. “The broker will consult the transfer agent,” said dollarsanddinars.com, “who then determines the value of the certificate according to current prices. After all of that, the current value of the security should be reflected in your account.”

If all else fails, http://www.investopedia.com/articles/02/101802.asp says, “For a fee, stock-search companies will do all of the investigation work for you and, if the certificate ends up having no trading value, they may offer to purchase it for a collector’s value.”

User-contributed question by:
Brenda Davis

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