I have Playboy stock?

Question

In the 1950s Playboy magazine, as a promotion, sold 1 share of stock for $1.00. My dad bought one just for fun. After he died my mother had it transfered to me. I just recieved in the mail two letters from the state controllers office telling me to claim it or basicly lose it. But they won't tell me it's value. The forms have to be notorized which cost money . Any advise on the value would be appreciated. Thanks

Answer 1

A notary public does not cost a lot of money. Maybe on $2. Claim the money or it goes to the state. I may not be alot of money but it is money. Or a practicing attorney, some bankers can notarized your document. I do not think there are any free notaries. On the New York Stock Exchange is worth about $12.00. The state won't tell you how much at first because somebody can have thousands of dollars. If they told people than people would want their money. If people think their unclaimed funds is worthless than the state take the money.I hope that answered your question.

Answer 2

Go ahead and fill out the forms. It doesn't cost much to get something notarized. You may even be able to get it done for free at your work (if you have a legal department).

One share of stock is now worth $12.52. Yahoo! Finance only has data going back to 1987 -- but there was a stock split in the early 1990s, so you own at least two shares. My guess is that the stock had already split two or three times prior to that -- so you should own between eight and 16 shares. $200 is worth getting a piece of paper notarized.

People are telling you to talk with an attorney. It isn't worth the cost (unless you have a friend who is an attorney).

Answer 3

You have to see if you know how many times it has split and stuff I looked back to 1990 and it split once there that means you have at least 2 stocks at $12.xx what ever its at right now plus any other splits that have happened between the 1950's and the 1990's you could have 50 shares maybe it might be something where you find the main office for playboy and ask them how many times that stock has split

Answer 4

Playboy, the publicy traded entity is selling for about $12.70 a share right now. However, this sounds like it is not a share of "common stock". I agree with the above and would talk to an attorny specializing in securities litigation.

However, I would think that it will cost you more to talk to an attorney for 15 minutes then you will profit from the sale of the asset. Good luck.

Answer 5

i would talk to a lawyer about this one. It sounds like it could be a big deal.

Answer 6

You should be a millionaire by now.

You really need to talk to a lawyer about this.