Gyrodyne Company of America Stock Certificate
Gyrodyne Company of America Stock Certificate
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Are the certificates authentic?
Are the certificates authentic?
Yes, all of the certificates we sell are authentic stock and bond certificates unless otherwise mentioned in the description. At one point in time, this certificate represented a share of of the company, or a bond receipt. These certificates have been removed from circulation and digitalized, as seen by cancellation holes, stamps and writing on the certificate. We offer these certificates as a collectable item, not a security.
Red/ maroon stock certificate of The Gyrodyne Company of America from New York, dated 1978. Cancellation holes, slight wear and writing present on the certificate.
The Gyrodyne Company of America was founded in 1946 by Peter J. Papadakos, who acquired assets from the bankrupt Bendix Helicopters Company. Initially, the company continued Bendix's work on a one-man synchronized coaxial rotor helicopter in Massapequa, New York, before relocating to St. James, New York, in 1951. Over the next 24 years, Gyrodyne focused on designing, testing, developing, and producing coaxial helicopters, most notably the Gyrodyne QH-50 DASH drone for the U.S. Navy.
In 1975, Gyrodyne began transforming its helicopter manufacturing facilities into rental spaces for light industry. Since then, the company has shifted its focus to managing and developing real estate.
On November 2, 2005, SUNY Stony Brook seized 245.5 acres from Gyrodyne under eminent domain, initially paying $26,315,000 for the property. Gyrodyne pursued a case for just compensation in 2006, and in 2010, the Court of Claims ruled in their favor, awarding the company $125,000,000. This required the state to pay an additional $98,685,000 plus nine percent interest from the date of seizure to the date of payment.
In 2006, Gyrodyne became a publicly traded Real Estate Investment Trust (REIT). Around this time, the company began focusing on acquiring medical properties. Since then, Gyrodyne has purchased three such facilities: two in New York and one in Northern Virginia.
Materials and care
Materials and care
Here are some quick tips to preserve your certificate for decades to come.
Paper quality: Stock certificates were printed on a variety of certificate paper dating back to the mid 1800s. Most of these vintage collectable certificates have signs of used & wear , cancellation holes, pencil / pen writing, stamps, staples, adhesives, slight rips, missing coupons and other features.
Handling: Always handle the certificate with clean, dry hands or use cotton gloves to avoid transferring oils and dirt from your skin onto the paper.
Storage: Store the certificate in a cool, dry place away from direct sunlight, which can cause fading. Use acid-free folders or archival-quality plastic sleeves to protect it from moisture, dust, and physical damage.
Framing: If displaying the certificate, use a frame with UV-protective glass to prevent light damage. Ensure the certificate is mounted using acid-free materials to avoid any chemical reactions that could degrade the paper over time.
Avoid Exposure: Keep the certificate away from direct sun, extreme temperatures and humidity, which can cause the paper to warp or deteriorate. Avoid exposing it to pollutants, such as smoke or chemicals, which can cause discoloration.
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