asked:


I have a million shares of a full reporting OTC/Pink Sheets stock and I cannot deposit them anywhere. Any suggestions would be great.
I should explain, deposit to trade. i need a brokerage firm that accepts certs. the stock is trading and is fully reporting, but still a penny stock.

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    Comments

    5 Responses to “Does anyone know where i can deposit a penny stock certificate?”

    1. Steve D on November 8th, 2012 5:35 am

      What do you mean by deposit. If you mean for safekeeping, get a safety deposit box at your bank. If you mean into an account, the certificates themselves are not really worth anything – they represent the shares and only get a monetary value when you sell the shares.

    2. Common Sense is dead on November 9th, 2012 4:47 pm

      safe deposit box?

    3. JoeyV on November 12th, 2012 12:06 am

      Why do people ask questions like this but keep the security secret? What stock is it?

    4. A nobody on November 14th, 2012 1:08 pm

      Welcome to the world of penny stocks.

      Almost all brokerage firms wil accept penny stock certificates for deposit to your account, but most firms do not want their clients dealing in penny stocks and do whatever the can to discourage it. They will accept the deposit of penny stocks as long as there will be additional business.

      HOWEVER, you failed to state as to how the certificates are registered, if they are in street name – many firms deliver street stock since it is expensive to register this junk.- you will need to provide proof of ownership when depositing the stock.
      Or you failed to provide the market value of this junk, in many cases the stock (regardless of the number of shares) has little or no value which will result in a hefty commission for processing the trade and the clearing this trade.
      You may have to deposit cash in addition to the shares to meet the firm’s minimum deposit amount to open the account.

      The fact that you have a million shares, and is traded in the “pink sheets” is meaningless, you need to discuss the market value going forward.
      You can check out the pink sheets and see who is “bidding” for the stock, and contact them

    5. Raysor on November 17th, 2012 1:31 am

      Either in the rubbish bin or send them to your broker for dematerialising. You are not giving us the full story. I assume you are registered with a broker? I use Pershing Seurities, they will take them.