Selling paper shares is now becoming less and less common. Dealing with shares online is more convenient and cheaper to do. If you’re interested in selling paper shares then continue reading; otherwise, learn about selling shares online as it’s a much more preferable option for traders and share dealers.
You can sell your paper shares by posting them to a company that is able to turn them into cash. Selling paper shares by post is cost effective and it can be as fast as 3 days to turn paper shares into cash.
While many different companies have varying commissions on selling paper shares, the normal rate is 1% on the sale proceeds with a minimum amount being taken (usually ~£8.00). For example, if you had shares worth £50.00 then you would be charged £8.00 for selling your paper shares. If you had shares worth £1000.00 then you would be charged £10.00.
Selling paper shares usually takes place over the following steps:
1. You will need to print your own paper shares sales form
2. You will need to fill out and sign the paper shares sales form
3. Send the form along with the paper shares and two proofs of identification
How long will it take to sell my paper shares?
The time taken to sell paper shares can vary and is dependent on any price limit that you may set. If, for example, you are unwilling to sell your shares at the market price, then it may become difficult for the seller to sell your paper shares.
Your paper shares will be sold as soon as possible following receipt with a maximum of a 30 day wait (paper shares returned if unsellable).