According to The Independent, a UK newspaper, the European Union has introduced an initiative that will stop the issuance of all stock certificates by 2015 and wipe out existing ones by 2020. See the full article here.
It’s just a matter of time before this happens in the U.S.
A recent article in the San Francisco Business Times indicates that starting in September 2012, Charles Schwab will charge customers at least $500 to take delivery of a paper stock certificate, up from just $50.
Anyone who asks their stock broker to deliver a physical stock certificate better ask what the fee is and you better be sitting down when you get the answer. We just checked with Scottrade and Charles Schwab and they both charge $500. In fact for most stocks, they cannot and will not deliver a physical stock certificate.