Mutilated Security

Yep, mutilated securities are as bad as they sound. A mutilated security is a security (like a stock or bond) that’s been damaged to the point where important information is lost, and cannot be read. For instance, the bond owner’s name may be impossible to read if it was kept on the porch for a decade (why grandpa, why!?).

Thankfully, more of those are electronic these days, but not all of them. If you have a mutilated security and want to try to cash it in, you’ll need the help of someone who can verify that you’re the true owner...a prince that will bring you a glass slipper that will fit you, and only you...like maybe whoever sold it to you.