Gyroscopic Investing

So many threads here are so analytical and serious, this one's a little bit silly.

My question is, is it possible to hold an entirely tangible PP?

- Actual gold
- Actual cash, or at least paper bonds or something
- Physical long bonds
- Physical stock certificates

Gold and cash seem doable enough.  Gold is gold, and cash could be FRNs or EE bonds (I think you can still get paper EE bonds). 

I don't think physical treasuries suitable for either cash or the bond slice exist any more though, it's my understanding that all treasuries are now electronically generated, auctioned, sold, etc. and that it's been this way for some time now.  It's also my understanding some paper only treasuries, ironically held by the federal government, still exist.  I recall seeing a news report about an office where they're maintaining them in massive 3 ring binders a few years ago at least.

The only time I've seen an actual stock certificate or a (non treasury) paper bond with actual coupons on it, in my entire life, was at school when a few defunct ones someone had saved were brought in to see an example of what they used to look like.  I recall reading in some brokerage fee schedules, usually at the very back, that physical shares can be issued, but I also recall the cost seemed rather prohibitive.

I had wondered if a DRIP or DSPP or something similar couldn't net you physical shares for a reasonable fee.

I'm mostly just curious, I have no real desire to hoard actual cash, keep up with certificates, etc. it's just a headache.  Nor am I condeming anyone who does, let's just be clear on that. 

It's just that I know many people, and not just the elderly, do not trust electronic money so I'm curious if there are alternatives for these people.  I admit the thought of such things does amuse me somewhat, because bonds, stocks, and cash are all abstract legal concepts to begin with, putting it on paper, even the fancy fiber we print reserve notes on, makes it no more "real".

I find the thought of a PP sitting in a safe deposit box whimsical and quaint, and I suppose of a certain utility for some.  I've also heard the argument in the past that paper savings bonds can be reissued and electronic ones cannot but I don't know if this is true.  Provisions like that are worth knowing about.

Yeah, AFAIK there's no practical way to deal in paper long-term bonds.

The other 3 categories would work, though.  Cash is paper bills and/or paper savings bonds. Gold is easy.

A few high-profile companies issue paper certificates, intended to be used as novelty gifts:
http://www.giveashare.com/stocklistalpha.asp

One interpretation of "physical stock" is "prosperity-linked business under your direct control." So you might invest those funds directly into private equity in a small business.

Paper bonds would seem to be useless and paper stock certificates nearly as useless.  If you showed up with a paper bond I wouldn't know how to value it, or transfer it to me.  A stock certificate you can have a Medallion Signature guarantee at most banks and sign over the stock to me.  I've handled dozens of paper stock certificates that way over the past 20 or so years, but a year or two ago I finally turned in the last of mine to my broker to deposit into my account.

I don't know if any/many/most companies have stopped issuing certificates.  Several big companies I own still issue.  It used to be, and for those that issue most likely still is, that once your shares were directly registered to you (as opposed to held at a brokerage in street name) it was free or very cheap to get a certificate issued.

The entire process is/was:

• 1 - buy stock at your brokerage (I use Scottrade)
• 2 - transfer stock to DRS agent (broker knows how, Scottrade is currently free)
• 3 - wait for statement from DRS agent
• 4 - request stock cert from DRS agent

Steps 1-3 are the same if you wish to join a company sponsored DRiP when they do not offer a DSPP.

Just a note on scottrade fees...  The fees change all the time.  Currently DRS incoming and outgoing are both listed as free on their website.  However as I read it now, they list $90 to deposit a stock certificate.  In the 7+ years I have been with scottrade I never paid to deposit a stock certificate, and when I started, incoming DRS was free but outgoing DRS had a fee.  Then one time a few years ago I had to pay $50 for an incoming DRS (100 shares +/-).  I protested but they wouldn't budge, citing "corporate policy."  Stock certs were still deposited for free so the next month I brought them paper stock certificates for a few shares each, then repeated that the next couple of quarters.  Less than a year later the local office offered to waive the DRS fee for me, since each paper stock certificate they received had to be overnighted to St Louis.  :)