Steinway Stock Certificates Tuning Out Forever
Steinway Musical Instruments (NYSE) agreed to be bought by Kohlberg, a private equity firm, for $438M ($35 per share).
You can see from the image at the left that the certificate design is awesome! Steinway stock certificates are following the path of many others that are disappearing due to corporate mergers, buyouts, and the industry movement to eliminate paper stock certificates. The movement away from paper certificates is sad but inevitable as the industry moves to electronic registration to save money.
On the bright side, anyone with a Steinway stock certificate will see their collectible value rise. Not only will the supply be cut off but those with certificates will be turning them in to get the $35 cash. The Laws of Supply and Demand take over.
If you want to buy a share of Steinway Musical and get the paper stock certificate there is still time, but you better act fast!
Interesting Tid Bits:
- Steinway has been in business for 160 years
- The typical Steinway grand piano is about $50,000 but prices can be much higher.
- The ticker symbol for Steinway is LVB (for Ludwig Van Beethoven)