I don't think that word means what you think it means "Many common stocks issued today do not have par values; those that do (usually only in jurisdictions whe

I don't think that word means what you think it means "Many common stocks issued today do not have par values; those that do (usually only in jurisdictions where par values are required by law) have extremely low par values (often the smallest unit of currency in circulation), for example a penny par value on a stock issued at USD$25/share." https://secure.wikimedia.org/wikipedia/en/wiki/Par_value https://secure.wikimedia.org/wikipedia/en/wiki/Par_value