Mementos of Places Visited

QUESTION: My grandad traveled a lot for business, and from everywhere he went, he brought back a miniature replica of a famous building. By the time he died, he had amassed over 100 of these tacky souvenirs. And now I have them. To me, they’re just that, tacky souvenirs, but to him I’m sure they brought back memories of the places he had visited. What can you tell me about such replicas? How did they get started? Are they worth anything?

ANSWER: Replicas of souvenir buildings have been around since Victorian times. They fill the shelves of tourist-trap souvenir shops all over the world, lined up like soldiers waiting for a command to go to war. I’m sure you’ve asked yourself who would buy such tacky items? The answer, believe it or not, is lots of people. And their popularity seems to be on the upswing.

Like the lost city of Atlantis rising slowly from beneath the sea, long-forgotten souvenir buildings are now emerging from cellars, closets and attics. Souvenir buildings have attracted a diverse following among designers, architects, history buffs, lawyers, and ordinary collectors. These little structures, singly or in groups, provide a rich treasure-trove of memories. And this, after all, is one of the basic functions of a souvenir.

A souvenir serves as a reminder of an experience, place, or culture. In French, the word means “to remember.” Whatever the object—whether a building, a plate with a picture on it, an ashtray, or a fan—it evokes a memory that’s often supplemented by a personal story or recollection.

Building replicas are just one of thousands of souvenir items which travelers have brought back home over the years. They rage in size from one to ten inches high and  include famous structures such as the Colosseum in Rome and obscure ones like the Buffalo Savings and Loan in upstate New York. Although metal is the preferred medium for most collectors, souvenir buildings have been produced in almost every conceivable material, including cast iron, pot metal, sterling silver, silver gilt, pottery, pewter, brass, plastic, and cast resin. The last is sometimes painted and sometimes “metalized” in brass, silver, or copper.

The tradition of collecting miniature buildings goes back to Victorian times when travelers on the European Grand Tour would purchase models as mementos of their journeys. These were usually recognizable landmarks such as the Eiffel Tower in Paris or the Leaning Tower in Pisa. Such a replica made a nice ornament or present and served as a reminder that the traveler had "been abroad.”

Ever since, travelers to Europe have been returning with small churches, castles, Roman gates, triumphal arches, commemorative columns, basilicas, bullfight arenas, and so on. Because of Europe's bloody history, war monuments to the fallen or to the victorious make up an entire subcategory of historic interest.

In fact, it’s possible to collect souvenir buildings and monuments that trace Napoleon’s march across Europe, beginning with a replica of Napoleon’s Column in the Place Vendome in Paris, which commemorates his victory over the Austrians and Russians at the Battle of Austerlitz in 1805.

But most people are more familiar with the little replicas of the Empire State Building and the Statue of Liberty that marked many a family’s first trip to New York City. Other grander structures include cathedrals and basilicas all across Europe. Pilgrims to these religious centers have purchased tiny replicas ever since they first became available.

Another category would include buildings from World's Fairs and Expositions: the Christopher Columbus monument from the International Exposition of 1888 in Barcelona, the Atomium from the Brussel’s World’s Fair in 1958, and the Eiffel Tower from the Paris World's Fair of 1889—perhaps the third most popular replica after the Empire State Building and the Statue of Liberty.

Collectors have created many categories to help them sort through the thousands of souvenir buildings and monuments on the market. Most acquire a jumble of all sorts of buildings, monuments, and "does-this-really-count-as-architecture" replicas, such as a metal miniature of Mt. Rushmore.

The beginning of souvenir building popularity began in the U.S. at the Philadelphia Centennial in 1876. Three versions of Independence Hall, each one a different size, were available at the fair. Today, these command prices of several thousand dollars each. Independence Hall has also been reproduced in red and white plastic, in an aluminum-like alloy, and, most recently, in pewter.

The next big date was 1888 and the unveiling of the Statue of Liberty in New York Harbor. Replicas of the statue were made and sold to help-raise money for the funding of the base. The elegant bronze castings known as The "Bertholdi model," named after Miss Liberty's sculptor„ became available at that time and have since become both scarce and pricey. For the rest of us, millions of Statues of Liberty have been churned out since then, making Miss Liberty one of the most popular miniature monuments ever produced.

Because there are so many souvenir buildings on the market, both old and new, collectors don’t usually have to pay too much for them. This makes these tacky souvenirs an ideal collectible for anyone who’s on a budget. But even if a person overpays for a replica of the Parthenon, it will still cost less than round-trip airfare to Athens.

That's a Crock!

QUESTION: Some time ago I purchased an old crock at an antique show in my area. I believe it holds two gallons and has two hearts and the number “2" painted in blue on the front. The name Sarah Good is incised above the hearts. Can you tell me how old this crock is and what is the significance of the heart design?

ANSWER: Heart decoration was somewhat rare among crocks. Though your crock has a name incised in it isn’t unusual,  that the name is female is. This indicates that this crock may have been a wedding gift, specially made for Sarah Good. After all, a crock in the early to mid-19th century was a piece of kitchen equipment much as a set of canisters is today.

Potters made crocks of American stoneware, which they covered in an alkaline or salt glaze and often decorated using cobalt oxide to produce bright blue designs. Though people often use the term "crock" to describe this type of pottery, the word "crock" wasn’t used at the time these vessels were popular.

Stoneware is a type of pottery that’s  fired to about 1200°C to 1315°C. While it originated in the Rhineland area of Germany in the 15tth century, it became the dominant piece of houseware in America between 1780 and 1890. People relied on American Stoneware as not only a durable, decorative piece of houseware but as a safer alternative to lead-glazed earthenware. The invention of refrigeration caused its decline.

Americans began producing salt-glazed stoneware circa 1720 in Philadelphia, Pennsylvania, and Yorktown, Virginia. By the 1770s, the art of salt-glazed stoneware production had spread to many centers throughout the United States, most notably Manhattan, New York. The Remmey and Crolius families of potters would, by the turn of the 19th century, set the standard for expertly crafted and beautiful stoneware. By 1820, potters in nearly every American city produced stoneware, with those from Baltimore, Maryland, standing out for their excellent craftsmanship.

While salt-glazing is the typical glaze technique seen on American Stoneware, potters employed other glazing methods. They often dipped vessels in Albany Slip, a mixture made from a clay peculiar to the Upper Hudson Region of New York, and when fired, produced a dark brown glaze. They sometimes used this slip as a glaze to coat the inside surface of salt-glazed ware.

While decorated ware was usually adorned using cobalt oxide, American Stoneware potters used other decorative techniques. Incising, a method in which a design of flowering plants, birds, or some other decoration was cut into the leather-hard clay using a stylus, produced detailed, recessed images on the vessels. Potters usually highlighted these in cobalt. They also impressed designs into the leather-hard clay using wooden stamps. Potters occasionally substituted manganese or iron oxide for cobalt oxide to produce brown, instead of blue, decorations on their pieces.

In the last half of the 19th century, potters in New England and New York state began producing stoneware with elaborate figural designs such as deer, dogs, birds, houses, people, historical scenes and other fanciful motifs including elephants and "bathing beauties."

Most stoneware jugs had some sort of decoration on them which covered only a small area. Unlike other pottery, they weren’t decorated all over. Birds and flowers were commonly painted using cobalt-oxide glaze or incised into the surface with a stylus.

More elaborate designs featured chickens standing by a water trough or sprigs of greenery artfully handpainted with cobalt slip. Sometimes the location of the potter appeared on the side of the jar or on its base.

A crock’s decoration can often be a clue to where it was made. A two-gallon jug with a cobalt design of a sailing ship with flag atop the middle of three fasts, a light-house to the right and a group of rocks to te left, indicates that it most likely came from New England.

Potters signed a good bit of their work using their maker’s mark or sometimes incised their signatures in the surface of the jar. Many pieces can be attributed to particular makers based on the cobalt decoration, clay body, form, and such. They marked the gallon capacity of the vessels using numeral stamps or incised or cobalt oxide numbers or hash marks applied freehand.

For the last several years, stoneware prices have been climbing ever higher, especially for the high-end wares. Most stoneware crocks sell for four to six figures, depending on their maker and condition.

Collectors continue to pay premium prices for stoneware decorated with elaborate and unique motifs. Attributed to David Parr Sr. of Baltimore, a circa-1830 six-gallon jar with a cobalt design of a flower basket that covered the entire front of the vessel sold for $13,750 at auction. The back of the jar featured a flowering plant rising' from a mound of earth. The vessel had rim and base chips, as well as several cracks and still sold for a high amount.

The same auction contained a one-gallon stoneware jug showing a house, tree and fence which sold for $10,175. Stamped J. & E. Norton/Bennington, Vermont, buyers liked this circa-1855 jug not only for its cobalt decoration, but also for its small size. Salt-glazed pieces sell for especially high prices. A salt-glazed water cooler brought $10,500 at auction.

The Gleam of Brilliant Glass

QUESTION: My mother loved cut glass. She once had an extensive collection, but sold much of it later in life. One piece, however, did manage to survive and now I have it. It’s a six-inch round,  shallow dish, with a flat bottom and sloping sides and a circular handle. Etched on the bottom is the name J. Hoare & Co. 1853. What can you tell me about this piece?

ANSWER: You have what’s commonly referred to as a nappy, a small serving dish usually made of glass. In this case, it’s one that originated during what’s known as the American Brilliant Period at the J. Hoare and Company glass cutting factory in Corning, New York. The date of 1853 refers to the company’s founding, not the date of manufacture, which was probably around 1900. Your piece carries the etched signature thought to have been used in 1901 and 1902. The company affixed paper labels to pieces produced prior to this time.

American Brilliant Period cut glass was a symbol of elegance. Pieces like this were often given as wedding and anniversary presents in the late 19th and early 20th centuries. American Brilliant refers to cut glass made from the time of the Philadelphia American Centennial celebration in 1876 to the beginning of World War I. J. Hoare & Company was one of the first companies to produce fine cut glass in the United States.

John Hoare, known as Captain Hoare to his business associates, was born in the city of Cork, Ireland on April 12th, 1822, the oldest of a large family of children of James and Mary Hoare. He learned the glass trade with his father in Belfast, and afterwards at the age of 20, left Ireland for England, where, in Birmingham, he worked as a journeyman for Rice Harris at Five Ways Glass Company and for Thomas Webb at the Wordsley Glass Works. Following his journeymanship, he became a foreman and traveling salesman for the firm of Edward Lacey & Son, of Birmingham. He was also foreman for Lloyd & Summerfield, one of the oldest glass houses in England.

In 1848, Hoare went into business for himself. Five years later, he and his family set sail for New York. When he landed, he had just a single half sovereign in his pocket. But being a skilled and experienced glass cutter, he had no difficulty in finding a good position. He soon began work E. V. Haughwout & Company on Broadway, and after a year, with five other men, formed a glass cutting partnership.

After two years Mr. Hoare bought the interests of two of his partners, then organized under the name of Hoare & Burns. This partnership continued until 1855, when he purchased and became proprietor of the glass cutting department of the Brooklyn Flint Glass Company, State Street, Brooklyn.

In 1868, John Hoare moved to Corning, New York, where he, together with Joseph Dailey, one of his original partners from Brooklyn, opened the glass cutting firm of Hoare & Dailey on the premises of the Corning Glass Company, from which it purchased its blanks, or uncut pieces of glass.

When people think of fine crystal today, names like Waterford and Baccarat immediately come to mind. But both of these firms are European. Today, buyers have few choices if they want to purchase fine quality cut glass crystal. But at the end of the 19th century names like John Hoare were at the top of the list because it was American firms like his that produced lead crystal that was far superior to anything made in Europe.

John Hoare became well known for his use of sharp geometric patterns. The light reflects off of these patterns beautifully creating prisms of color, exhibiting what Hoare became known for and what was then considered relatively new, the use of flared cuts rather than straight ones. Pieces produced prior to 1900 are often decorated with single motifs such as strawberry diamond or hobnail while those produced after 1900 are usually more complex. Combinations of three or more motifs are common. The company also created innovative celestial designs, inspired by the arrival of Halley's Comet. Pieces cut after 1910 often incorporate engraved floral and natural motifs. However, Hoare is best known for his earlier work.

John Hoare's experience in England undoubtedly provided the basis for some of the cut-glass designs he produced in this country. Hoare's Wheat pattern, thought to be characteristic of the American Brilliant Period, is a close relative of mid-19th-century cut-glass designs produced in the English Midlands.

After Captain John’s death in 1896, his sons carried on the family business. The firm prospered until World War I, when a shortage of lead crippled the entire cut glass industry. By 1920, the firm had declared bankruptcy.

Although J. Hoare & Company produced cut glass of fine quality during the company's last two decades, the average cut glass from much of this period was often inferior. Final polishing was often neglected or carelessly done, resulting in glass with an "acidy" appearance. Hoare cut glass that had been acid-etched with the company's trademark isn’t necessarily cut glass of fine quality. Your piece fits into this category. The best pieces originated in the late 19th century.

The First Lawn Chair

QUESTION: We’ve had a Windsor chair in our family as far back as I can remember. I believe it belonged to my great-great grandmother. Today, I use it as a chair at my computer desk. What can you tell me about this chair?

ANSWER: You have a standard bow-back Windsor chair, the kind found in just about every upper class household in Colonial America. While most people consider them delicate antiques, they’re quite sturdy and have many uses.

Today, the ubiquitous white modeled plastic patio chair appears on decks and patios throughout the world. It’s a serviceable chair, easily stacked and stored. But this isn’t the first chair of its kind. In fact, the lowly Windsor chair holds that honor.

One of the most graceful and usable of all traditional chairs, the Windsor is also the most successful piece of furniture in American history. Its origins, however, are English, dating back to the turned and joined stools of 16th-Century England. The name probably derives from Windsor, where a prolific chairmaker  produced and sold the chairs in the 18th Century. He sent them down the Thames River to London where people referred to them as coming "up from Windsor."

Wheelwrights rather than cabinetmakers made Windsor chairs in England. They remained farmhouse or tavern furniture for a long time. But here in America, homeowners embraced the Windsor as a sort of all-around chair. They could be stored in a hallway and brought into any room that needed more seating when guests arrived. They could be easily carried. And they could be brought outdoors to provide seating on the lawn on hot summer days. Even the most prominent members of Colonial communities used them. George Washington seated his guests on the East portico of Mount Vernon in 30 Windsor chairs.

As a piece of furniture, the Windsor holds historical significance. Thomas Jefferson sat in a bow-back. writing-arm Windsor while composing the first draft of the Declaration of Independence in late June of 1776. And when Benjamin Franklin and other members of the Continental Congress voted to secede from the mother country on , July 1, 1776 in Independence Hall, they sat in bow-back Windsors.

There are eight different kinds of American Windsors, including the low-back, or Philadelphia Windsor, named for the city where a craftsman constructed the first Windsor in the colonies, the comb-back, fan-back, bow-back, loop-back, arch-back or New England armchair, rod-back, and arrow-back. Each had its distinct use. Windsor makers socketed all parts together except for the shaped arms of the fan-back, arrow-back, and rod-back chairs. On these, they doweled the inner ends of the arms or screwed them to the back uprights.

Windsor makers preferred pine, whitewood, and basswood for seats, hickory or ash for spindles, maple. yellow birch, or beech for turned legs. stretchers, and supports, and hickory, oak, ash, or beech for hoops. bows, or combs. And because of this, makers gave their Windsors several coats of dark green paint. In the 19th century, small factory workshops produced Windsors of pine and maple. And even to this day, craftsmen still use the same time-tested techniques for constructing reproduction Windsors.

The most common form of Windsor is the bow-back with its elliptical seat and seven tapered spindles that pierce a semi-circular arm rail and bowed top rail.

What's All the Fuss About Fans?

QUESTION: I was digging around in my mother’s attic the other day and discovered a flat box containing two very beautiful fans. I imagine these must have belonged to her mother or grandmother. What can you tell me about them? Do they have any value?

ANSWER: Fans have been around for a very long time. As a piece of functional art, they go back as far as ancient Egypt. The Egyptians saw them as sacred instruments used in religious ceremonies. They also became a symbol of royal power. But it was the Chinese who evolved the fan into a complex, decorated instrument. The Japanese took the fan one step further and produced a folding version, supposedly based on the folding wings of a bat. When Marco Polo returned to Venice, he brought with him fans made of vellum, paper, swan skin with blades of gold, silver, and inlaid mother-of-pearl.

The original purpose of hand fans was to create a breeze, but they had many other uses. They could be used as protection against rain, as a tray for offering or receiving refreshments, and to hide bad teeth. European women would use fans to hide their faces during mass.

By the 18th century, the folding fan had come into its own in Paris. Delicately hand-painted floral motifs, on a structure of decorative sticks, came into common use. In fact, any wealthy lady worth her salt had to have fans as accessories to her wardrobe.

These wealthy women developed a whole language of salutations and signals around their fans. For instance, carrying a fan in the left hand signified "desirous of acquaintance" while allowing it to rest on the right cheek meant "yes" and on the left "no." Drawing a fan across the forehead meant "We are watched" and drawing a fan across the eyes meant "I am sorry." Opening a fan wide meant "wait for me." Dropping a fan meant "We could be friends." If a lady fluttered her fan, it meant “I am married.” But if she placed the handle of her fan to her lips, it meant "kiss me."  An open fan held in the right hand in front of the face—the ultimate form of seduction—meant "follow me"

The blades of these delicate instruments could be of carved ivory or tortoise shell inlaid with precious inlaid metals and elaborate jewels. Less expensive fan sticks were usually of sandalwood or fruitwood. These rococo fans were the finest ever made, and many fo the designs took the form of stylized art.

By the latter part of the 18th century, fans had gained popularity as a fashion accessory in the upper circles of American society. While fan makers imported finer sticks, they made their own wooden ones.

The earliest fans made in any large quantity in the United States were paper souvenir fans depicting historical scenes. as well as current events. Lithographers portrayed views of New York's Crystal Palace, 1853, the Philadelphia Centennial in 1876, printed in black on a cream background, and the World's Columbia Exposition in 1893.

By the late 19th century, fans displayed images of nearly every product. Every department store and every manufacturer advertised on fans, including such products as coffee, milk, bread, carpet sweepers, restaurants, cafes, theaters, sewing machines, etc.

Before the advent of air-conditioning, funeral parlors gave out fans t mourners. These were as much to keep mourners cooler in warm weather as they were to wave the stink of the corpse away. These mourning fans became a social necessity. Manufacturers often fashioned them in black materials to coincide with the black clothing worn during recognized periods of mourning. Of course, it didn't hurt to print the name and address of the mortician on the guards of a cheap wood fan.

Fans are still relatively inexpensive—except the jewel-encrusted ones—so they’re ideal to collect, especially for the novice collector. Many sell for $5-$20 online. Some of the most sought after fans came from the E.S. Hunt Company, later called the Allen Fan Company. In 1868, Hunt patented the process by which he assembled the fan sticks and the fan leaf in one step. This included folding or creasing and gluing the leaf to the fan sticks at the same time under pressure. This was America's first fan to appear and unfortunately folded, like its fans, in1910. 

The Enduring Beauty of Lace

QUESTION: Recently, I was going through an old trunk in my grandmother’s attic and discovered several beautiful old lace tablecloths. One of them had a label which read “Quaker Lace Co.” Can you tell me anything about this company and whether these old tablecloths are worth anything?

ANSWER: In the past decade or so, vintage linens have gained in popularity. Fine old lace ones are in rather high demand, as people seek to bring back the nostalgic beauty of bygone eras.

Finely patterned handmade lace has been available for centuries. However, lace tablecloths have only been used since the latter part of the 19th century, after the invention of mechanical lace-making looms. Traditionally, making lace by hand was a labor intensive process, but with the mechanical looms, it became possible to produce lace wide enough for tablecloths.

Taking care of fine lace tablecloths required extra help, so when domestic servants began to disappear from middle-class homes, so, too, did high- maintenance lace linens. But a new generation of housekeepers have discovered the beauty and elegance of lace. They tend to use fine lace tablecloths to dress up their dinner tables for special occasions.

While many of these fine old pieces were handmade and can cost hundreds and sometimes thousands of dollars, others were mechanically produced by companies such as the Quaker Lace Company of Philadelphia. Those produced by the company from 1880 to about 1913 are highly desired by collectors. To collectors, it doesn’t matter whether a lace tablecloth is handmade or machine-made or simple or ornate. Vintage Quaker Lace pieces sell for $10 to $200, with the average price being around $60-100 for a large tablecloth big enough to fit a table for 12.

Originally founded in 1889 as the Bromley Manufacturing Company by the three sons of John Bromley, an English carpet maker who came to the United Sates in the 1840s and became successful in textiles. The Bromley brothers used the profits from their carpet manufacturing business to purchase looms from Nottingham, England to produce machine-made lace. In 1894, the Bromley brothers purchased a factory on 4th Street and Lehigh Avenue in Philadelphia, and renamed their company Lehigh Manufacturing. A bit later, they opened a second factory on 22nd Street and Lehigh Avenue. In 1911 they renamed their operation once again the Quaker Lace Company.

Quaker Lace became the leader in machine-made lace. Their lace was durable, resisted stretching and pulling, and could withstand washing without losing its shape or transparency. In 1987 they closed their  4th Street factory, but continued to produce tablecloths at plants in Lionville, Pennsylvania, and Winthrop, Maine. The company continually researched and invented new ways of chemically treating their lace so that it would maintain its shape. The Bromleys sold their tablecloths mainly in department stores, but when many of them began to close, the company’s profits declined. The company had to  declare bankruptcy in 1992. Lorraine Linens purchased the patterns and Quaker Lace name and  continued to manufacture lace tablecloths until 2007 when it, too, filed for bankruptcy.

The Truth About Sadirons

QUESTION: Recently, I purchased an old iron at a local flea market. On the top of the heavy iron base is molded the word “sadiron.” Was this the brand name or a name people called this type of iron?

ANSWER: A flatiron pointed at both ends and having a removable handle is commonly referred to as a sad iron. First used in 1738, it became a regular household item by the mid-18th century and continued in use until the last decade of the 19th.

From research, historians know that the Chinese started pressing cloth using hot metal before anyone else. At the same time, Viking women used simple round linen smoothers made of dark glass along with smoothing boards to iron cloth. Others used hand-size stones which they rubbed over woven cloth to smooth it, polish it, or press it into pleats. And while some may have dampened linen first, it’s unlikely that these women heated their “smoothers.” Later glass smoothers, called slickers, slickstones, or slickenstones, had handles. It wasn’t until the late Middle Ages that blacksmiths began forging smoothing irons, heated by a fire or on a stove, for home use.

People began to call these flat smoothing irons “sad” irons, based on the Old English word “sad” meaning heavy, dense, or solid. Although most of these irons were small, they were very heavy, thus women looked forward to ironing day with some distain, knowing the drudgery it entailed.

On Mondays, women washed both clothes and bedding. They reserved Tuesdays for ironing, a chore that took all day and tired them as much as washing.

At home, ironing traditional fabrics without the benefit of electricity was a hot, arduous job. Women had to keep their sadirons immaculately clean, sand-papered, and polished. They also had to keep them away from fireplaces to avoid getting soot on them and had to regularly grease them lightly to avoid having them rust. Beeswax, applied to the underside of an iron, prevented it from sticking to starched cloth.

Women needed to own at least two irons—one for ironing and one for re-heating—to make the sadiron system work well. Large Victorian households with servants often had a special ironing-stove on which to heat the irons, fitted with slots for several irons and a place to set a water jug on top.

With no way to control temperature, women had to constantly test to see if their iron was hot enough by spitting on its heated underside. They learned the right temperature by experience—hot enough to smooth the cloth but not so hot as to scorch it. So they wouldn’t burn their hands, they had to grip the handles of their irons with a thick rag.

On April 4,1871, an enterprising women named Mary Potts of Ottumwa, Iowa (Yes, that’s right, the place where the fictional character, Radar O-Rielly, hailed from on the hit T.V. series, “M.A.S.H.”), received a U.S. patent for a lighter sadiron with a detachable wooden handle, which remained cool while ironing. Women could purchase several iron bases which could all be heating on the stove while she ironed. Women loved the idea.

She received another patent for an iron with a hollow body which could be filled with a material that didn’t conduct heat, such as plaster of Paris, clay or cement. In her patent, Mrs. Potts claimed that these materials held the heat longer so that women could iron more garments without reheating their as often.

Mrs. Potts exhibited her new sadiron in the 1876 Centennial Exhibition in Philadelphia. She prominently featured her picture in advertising for her new iron.

Investing in Old Stock Certificates

QUESTION: I’ve been unpacking some old boxes of things left to me by my father. In one of them I discovered some old stock certificates. Are they worthless or do they have investment value?

ANSWER: Old stock certificates, especially those from defunct companies, are only worth the paper that they’re printed on. But some, especially those with signatures from famous people, famous companies, or those involved in major scandals, can be worth quite a bit.

What exactly is a stock certificate? A stock certificate is the physical piece of paper representing ownership in a company and includes the number of shares owned, the date, an identification number, usually a corporate seal, and signatures. They’re larger than a standard letter-size piece of paper and many also have elaborate engraved designs to discourage counterfeiting.

Stocks represent partial ownership in a company. Today, most companies keep records of ownership electronically but some allow their shareholders to request a paper version. Each certificate starts out as a standard design to which the company adds the date of issue, identification number, and other information, including the printed signature of the chief executive. Executives on older certificates signed them in ink.

According to financial historians, partnership agreements dividing ownership into shares began to be used in northern Italy during the Middle Ages. However, these early shares were only intended to be in effect for a short time and only included a small group of people. Eventually the idea of shareholding spread to Belgium, and it’s believed the concept caught on in the trading town of Bruges. It was here that the idea of the stock exchange originated.

Eventually, shareholding took its next big step in Amsterdam in the early 17th century when the Dutch East India Company, formed to encourage trade in spices from Indonesia, issued shares that were tradable. The company compensated its shareholders well for their investments. In 1621, the market saw the issuance of shares for the Dutch West India Company, and much financial innovation ensued. Stock exchanges in the New World didn’t appear until 1790 in Philadelphia and then two years later in New York.

Collectors love canceled stock certificates because of their beautiful and elaborate graphics, as well as their connection to the historically significant companies they represent.

Old certificate values vary depending on their rarity, beauty, collector interest, historical importance, and  autographs, and industries for which they’re issued. Like all collectibles, supply and demand determine value.  Interesting pieces create a lot of demand while supplies vary.

What affects the market for stock certificates? Above all, general economic conditions tend to influence the prices of old stock certificates because many collectors of them are also involved in the real stock market. The law of supply and demand, as with other collectibles, governs this market as well. And Internet auctions have increased not only the availability of old stock certificates but their ease of purchase.

What determines the pricing of old stock certificates? Two important price boosters are signatures of important people and newly formed companies. For example, a Standard Oil Company certificate that John D. Rockefeller signed is worth nearly $8,000 today. Prices have leveled off in the last few years and finding rare certificates at reasonable prices has become a real challenge.

As with postage stamps, pricing can be affected by the rarity of a certificate—the rarer it is, the higher the price. An autograph of someone famous of the stock company with which he was involved also raises the price. Whether a stock certificate has ever been issued also influences it value, as does its age and decoration. The location and history of the company don’t affect the price of a certificate as much as, say, its condition and whether its canceled or not.

However, no one point is always in control of a certificate’s value. For example, a Cody-Dyer Arizona Mining & Milling stock certificate, from a failed gold mine, signed by Buffalo Bill Cody currently is currently valued at approximately$4,000, while a rare unsigned Buffalo Bill's Wild West Co. stock certificate sold for $20,000 at auction in 2008.

As with any collectible, you should always collect stock certificates that are in excellent condition, have been issued, and are uncanceled. You should also collect certificates from industries that you’re familiar with or in which you’re interested. Early companies issued their stocks in small quantities, thus limiting the number of their certificates in today’s market. But there are lots out there for sale at low to reasonable prices.