1923 Packers Stock Certificate Up for Auction

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A certificate from the Green Bay Packers' first-ever stock sale in 1923 is up for auction as part of Heritage Auctions' Winter Platinum Sports Auction. The stock sale was organized after four years of financial uncertainty for the fledgling Packers organization and raised $5,545 through the sale of 1,109 shares at $5 each. The certificate up for auction granted 20 shares to W.R. Whittenberg, though it is memorabilia only and does not include actual stock in the team.

Why it matters

The Packers' early stock sales were crucial to keeping the team afloat during its formative years, and this 1923 certificate represents an important piece of the franchise's history. As the Packers have grown to become one of the most valuable sports franchises, with over 500,000 shareholders today, this vintage certificate offers a glimpse into the team's humble beginnings.

The details

The certificate up for auction is from the Packers' first-ever stock sale in 1923, which was organized by Andrew Turnbull, one of the owners of the Green Bay Press-Gazette. The team sold 1,109 shares at $5 each, raising a total of $5,545 to help stabilize the fledgling organization. This particular certificate granted 20 shares to W.R. Whittenberg, though it is considered memorabilia only and does not include actual stock in the team.

• The Packers' first stock sale took place in 1923.
• The certificate up for auction is part of Heritage Auctions' Winter Platinum Sports Auction, running from February 28 to March 1, 2026.

What’s next

The 1923 Packers stock certificate will be up for auction as part of Heritage Auctions' Winter Platinum Sports Auction from February 28 to March 1, 2026.