Collectible Stocks and Bonds from North American Railroads     by Terry Cox

A guidebook and catalog of prices
(I do NOT buy or sell certificates on this website)

Search this website for information about collecting stocks and bonds.


Search the Coxrail database for descriptions of 23,700+ certificates from over 7,400 North American railroad companies.

Why don't you describe the backs of certificates?


Collectors rarely inquire about the subject, but the question does arise from time to time. I do NOT describe, record or keep information about the backs of certificates for three principal reasons:

Economic pragmatisim. Since starting this project in the early 1990s, I have never encountered a shred of evidence that collectors have ever paid premiums for anything having to do with the backs of certificates other than the appearance of autographs or revenue stamps.

Avoidance of fly-speck varietization. It is not difficult to find differences in text on the backs of certificates. I suspect that every company that ever issued more than a few hundred stock certificates probably used one or more back designs. IF there were ever a method of determining designs and wording of text on the backs of certificates, can you imagine the number of new varieties that would result? The size of the printed catalog would be so large as to be unusable outside of a home or office. The cost of shipping would be prohibitive. All without economic purpose.

Practicality. Describing minor variations in the wording and placement of text would be difficult and prone to mis-interpretation. The only practical way of describing those variations to readers would be through the use of images. And yet, (going back to pragmatism) there is no time-effective way of capturing that kind of information. Nor is there any way to go back to the tens of thousands of historic auction listings to discover such information; it was never recorded.

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(Last updated Oct 6, 2015)


I strongly recommend buying the Cox Catalog 3rd Edition from your favorite SCRIPOPHILY DEALER. Catalog cover
If they do not carry, or are out of stock, you may buy directly from me. Simply click the buy button below.



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