Q:I found several old stock and bond certificates in my attic and wonder if they are still worth anything. The stock certificate is for 20 shares of Polish American Navigation Corp., issued in 1920. There are two $50 bonds that were issued by the National City Bank of New York for the Republic of Poland in 1920 and due in 1940. Are these still worth something, or are they valuable just as collectibles?

A:The Polish American Navigation Corp. operated cargo and passenger ships between New York and Danzig (now Gdanz), Poland, between 1919 and 1921. The company closed in January 1922. The National City Bank of New York is now part of Citigroup. Your stock and bonds probably have minimal value as collectibles since they are not ornately decorated, elaborately engraved or signed by a famous person. There are companies that specialize in researching old stocks and bonds; they charge a fee. They may also be interested in buying the stocks and bonds. You can do the research yourself, if you’re ambitious. Try your library. Look in the Directory of Obsolete Securities (Financial Information, Inc.) or Capital Changes Daily (Commerce Clearing House). You can also contact the U.S. Securities and Exchange Commission at SEC Headquarters, 100 F St. NE, Washington, DC 20549 or online at www.sec.gov/answers/oldcer.htm. Even if the certificates cannot be redeemed, they may have value as decorative art.

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