Casually browsing a garage sale in California one sunny day, estate sale shopper Tony Mahron came across an old Palmer Union Oil Company stock certificate dating back to 1924. Research of his later showed that through a long chain of mergers, acquisitions, and purchases of companies throughout time, Coca-Cola might owe him something in the range of $130 million.
Discovering an old stock certificate brings hopes of wealth beyond measure. Many of them are worth in the hundreds of millions when honored by companies. This seemed especially true of this oil company certificate. Oil company certificates tend to have some of the greatest chances of being worth big bucks.
Unfortunately for treasure hunters, however, the United States oil industry has seen many companies come as well as go over the years. Oil has become scarcer and people are starting to shy away from it in search of greener alternatives. That is a topic for another day, but read on for details on this little estate sale find that almost changed this family’s life forever.
Finding a hidden treasure (almost)
Back in 2008, Tony Mahron purchased the oil stock certificate in California for the price of a mere $5. The family Marohn fought it out with the Coca-Cola company in court claiming that they were entitled to $130 million.
The Coca-Cola company responded with this comment on the case: “The claim of Mr. Marohn’s estate that it is entitled to millions of dollars in Coca-Cola stock – based on a canceled stock certificate for a long-defunct oil company purchased at an estate sale – is meritless and unfair to the Company’s millions of legitimate shareholders.”
Unfortunately for Mahron, the company ended up winning the case and no money was required to be paid to his estate or heirs. The family had no legitimate claim to the property they were fighting for according to Coca-Cola and the judge.
Regardless of this loss, don’t be discouraged. There are still treasures out there waiting to be uncovered if you have what it takes to find and identify them! We may have the perfect sale for you coming up soon.
Until next time,