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.

Colors used on stock certificates

To make redemption and sorting easier, companies differentiated denominations and classes by various colors of border designs. Some companies issued as many as eight different colors for stocks of the same issue.

(As an aside, one has to wonder whether many companies were redeeming and re-issuing so many certificates so frequently that they needed so many different denominations and colors.)

There seems to be no reliable relationship between the color of stock certificates and denomination among the surviving population of collectible certificates.

Remember, the colors of stock certificates were primarily used to help companies and clearing houses differentiate betweeen denominations quickly. The colors themselves might have varied substantially, as long as they aided in sorting. Read more about colors at How variable are certificate colors? Also, if you want to report new colors, please read Reporting new certificate colors.

When I report "colors", I generally mean the colors of borders. If there are no borders, then "color" refers to text color. Color descriptions of very scarce certificates often depend upon very old descriptions by dealers and catalogers. IF those people reported underprint colors instead of border colors, or made mistakes, then those old mistakes may persist.
Underprint colors RARELY change without similar changes in border colors. For space reasons, I do NOT report underprint colors unless someone has contributed evidence or otherwise suggested that underprint coloration is known to be variable.


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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