October 29, 1929 dated Baltimore and Ohio Stock Certificate - Great Stock Market Crash

This Stock Certificate is dated October 29, 1929 the day of the "Great Stock Market Crash". Printed by International Bank Note Co. New York. Olive color.

The Great Stock Market Crash of 1929, also known as the Great Crash, was a devastating economic collapse that marked the beginning of the decade-long Great Depression. Following a period of wild speculation during the “Roaring Twenties,” the market reached an unsustainable peak in September 1929 before a series of catastrophic trading days in late October. On October 24, known as “Black Thursday,” a record 12.9 million shares were traded as investors began selling en masse. This panic culminated on October 29, or “Black Tuesday,” when over 16 million shares were traded, wiping out billions of dollars in market value.

The crash was fueled by systemic weaknesses, including rampant “buying on margin,” where investors used borrowed money to purchase stocks they could no longer afford when prices plummeted. While not the sole cause of the Great Depression, the crash acted as a major trigger, leading to a massive contraction in consumer spending and a catastrophic wave of bank failures. By 1932, the Dow Jones Industrial Average had lost roughly 89% of its pre-crash value. The resulting economic fallout saw U.S. unemployment surge to 25% by 1933, and the market did not fully return to its 1929 peak until 1954.