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 To
make redemption and sorting easier, companies differentiated
denominations and classes by various colors of border designs.
Some companies issued as many as eight different colors for
stocks of the same issue. One has to wonder, though, whether
those companies were redeeming and re-issuing so many certificates
so frequently that multiple denominations were absolutely
necessary.
There seems to be no reliable relationship between the color
of stock certificates and denomination among the surviving
population of collectible certificates.
Remember, the colors of stock certificates were primarily
used to help companies and clearing houses differentiate betweeen
denominations quickly. The colors themselves might have varied
substantially, as long as they aided in sorting. Read more
about colors at How variable are
certificate colors? Also, if you want to report new
colors, please read Reporting
new certificate colors.
When I report "colors", I generally mean the colors of borders. If there are no borders, then "color" refers to text color. Color descriptions of very scarce certificates often depend upon very old descriptions by dealers and catalogers. IF those people reported underprint colors instead of border colors, or made mistakes, then those old mistakes may persist.
Underprint colors RARELY change without similar changes in border colors. For space reasons, I do NOT report underprint colors unless someone has contributed evidence or otherwise suggested that underprint coloration is known to be variable.
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