UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSRS

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES

Investment Company Act File Number 811-179

Name of registrant as specified in charter: Central Securities Corporation

Address of principal executive offices:
630 Fifth Avenue
Suite 820
New York, New York 10111

Name and address of agent for service:
Central Securities Corporation, Wilmot H. Kidd, President
630 Fifth Avenue
Suite 820
New York, New York 10111

Registrant’s telephone number, including area code: 212-698-2020

Date of fiscal year end: December 31, 2011

Date of reporting period: June 30, 2011

Item 1. Reports to Stockholders.

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CENTRAL SECURITIES CORPORATION

(Organized on October 1, 1929 as an investment company, registered as such with the Securities
and Exchange Commission under the provisions of the Investment Company Act of 1940.)

				TWENTY YEAR HISTORICAL DATA
				Per Share of Common Stock
Year	Total net assets			Net asset value			Net investment income			Dividends*			Distributions*			Net realized investment gain			Unrealized appreciation of investments at end of period
1990	$	111,152,013		$	10.00														$	25,940,819
1991		131,639,511			11.87		$	.14		$	.14		$	.56	**	$	7,321,233			43,465,583
1992		165,599,864			14.33			.12			.20			.66			8,304,369			70,586,429
1993		218,868,360			17.90			.14			.18			1.42			16,407,909			111,304,454
1994		226,639,144			17.60			.23			.22			1.39			16,339,601			109,278,788
1995		292,547,559			21.74			.31			.33			1.60			20,112,563			162,016,798
1996		356,685,785			25.64			.27			.28			1.37			18,154,136			214,721,981
1997		434,423,053			29.97			.24			.34			2.08			30,133,125			273,760,444
1998		476,463,575			31.43			.29			.29			1.65			22,908,091			301,750,135
1999		590,655,679			35.05			.26			.26			2.34			43,205,449			394,282,360
2000		596,289,086			32.94			.32			.32			4.03			65,921,671			363,263,634
2001		539,839,060			28.54			.18			.22			1.58	**		13,662,612			304,887,640
2002		361,942,568			18.72			.14			.14			1.11			22,869,274			119,501,484
2003		478,959,218			24.32			.09			.11			1.29			24,761,313			229,388,141
2004		529,468,675			26.44			.11			.11			1.21			25,103,157			271,710,179
2005		573,979,905			27.65			.28			.28			1.72			31,669,417			302,381,671
2006		617,167,026			30.05			.36			.58			1.64			36,468,013			351,924,627
2007		644,822,724			30.15			.38			.52			1.88			42,124,417			356,551,394
2008		397,353,061			17.79			.39			.36			2.10			43,582,234			94,752,477
2009		504,029,743			22.32			.29			.33			.32			7,663,021			197,256,447
2010		593,524,167			26.06			.45			.46			.44			11,269,517			281,081,168
Six mos. to
June 30, 2011***		641,132,925			28.15			.23			.11			.09			10,153,759			317,894,035

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The above table does not present Convertible Preference Stock, which was outstanding for the years 1991-1998.
Net investment income reflected in the table is after deduction of the Preference Stock dividend.

*	Computed on the basis of the Corporation’s status as a “regulated investment company” for Federal income tax purposes. Dividends are from ordinary income which includes net short-term investment gains. Distributions are from net long-term investment gains.
**	Includes a non-taxable return of capital of $.11 in 1991 and $.55 in 2001.
***	Unaudited.

     The Common Stock is listed on the NYSE Amex under the symbol CET. On June 30, 2011, the market quotations were: $23.78 low, $23.99 high and $23.88 last sale.

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To the Stockholders of

     CENTRAL SECURITIES CORPORATION:

     Financial statements for the six months ended June 30, 2011 reviewed by our independent registered public accounting firm and other pertinent information are submitted herewith.

     Comparative net assets are as follows:

	June 30, 2011 (Unaudited)			December 31, 2010
Net assets	$	641,132,925		$	593,524,167
Net assets per share of Common Stock		28.15			26.06
Shares of Common Stock outstanding		22,779,391			22,779,391
Comparative operating results are as follows:
	Six months ended June 30,
	2011 (Unaudited)			2010 (Unaudited)
Net investment income	$	5,198,010		$	5,527,889
Per share of Common Stock		.23	*		.25	*
Net realized gain on sale of investments		10,153,759			3,596,589
Increase (decrease) in net unrealized appreciation of investments		36,812,867			(7,209,633	)
Increase in net assets resulting from operations		52,164,636			1,914,845

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*	Based on the average number of Common shares outstanding during the period.

     A distribution of $.20 per share of Common Stock was paid on June 28, 2011 to stockholders of record as of June 10, 2011. Stockholders will be sent a notice concerning the taxability of all 2011 distributions early in 2012.

     During the first six months of 2011, the Corporation did not repurchase any shares of its Common Stock. The Corporation may from time to time purchase its Common Stock in such amounts and at such prices as the Board of Directors deem advisable in the best interests of stockholders. Purchases may be made on the NYSE Amex or in private transactions directly with stockholders.

     Stockholders’ inquiries are welcome.

CENTRAL SECURITIES CORPORATION
WILMOT H. KIDD, President

630 Fifth Avenue
New York, NY 10111
July 27, 2011

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TEN LARGEST INVESTMENTS

June 30, 2011
(Unaudited)

	Cost		Value		Percent of Net Assets		Year First Acquired
	(millions)
The Plymouth Rock Company, Inc.	$	2.2	$	174.8	27.3	%	1982
Coherent, Inc.		22.0		44.3	6.9		2007
Agilent Technologies, Inc.		16.0		36.8	5.7		2005
Intel Corporation		16.3		33.2	5.2		1986
Analog Devices, Inc.		9.1		26.2	4.1		1987
CEVA, Inc.		9.3		26.1	4.1		2009
Brady Corporation		2.0		23.7	3.7		1984
Convergys Corporation		24.8		23.2	3.6		1998
Murphy Oil Corporation		1.0		18.4	2.9		1974
The Bank of New York Mellon Corporation		12.2		17.3	2.7		1993

DIVERSIFICATION OF INVESTMENTS

June 30, 2011
(Unaudited)

								Percent of Net Assets
	Issues	Cost			Value			June 30, 2011		December 31, 2010
Common Stocks:
Insurance	1	$	2,192,986		$	174,750,000		27.3	%	28.3	%
Technology Hardware and
Equipment	7		84,083,790			115,016,470		17.9		17.4
Semiconductor	4		41,738,248			92,807,618		14.5		11.4
Diversified Industrial	5		28,855,027			70,278,300		11.0		11.7
Energy	6		56,017,267			69,527,015		10.8		12.8
Software and Services	2		40,823,191			35,575,900		5.6		5.7
Banking and Finance	3		17,297,355			24,098,020		3.8		5.0
Other	10		51,045,052			57,405,371		8.9		7.8
Preferred Stocks:
Energy	1		2,027,220			2,515,478		0.4		0.4
Short-Term Investments	1		222,736			222,736		0.0		0.0

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PRINCIPAL PORTFOLIO CHANGES

April 1 to June 30, 2011
(Unaudited)
(Common Stock unless specified otherwise)

	Number of Shares
	Purchased		Sold	Held June 30, 2011
Agilent Technologies, Inc.			60,000	720,000
Analog Devices, Inc.			14,900	670,000
Brady Corporation			10,000	740,000
Carlisle Companies Inc.			70,000	230,000
CEVA, Inc.			38,500	858,300
GeoMet, Inc. Series A Convertible
Redeemable Preferred Stock	6,775	(a)		223,598
Home Federal Bancorp, Inc.			171,600	—
Intel Corporation	50,000			1,500,000
McMoRan Exploration Co.			10,000	650,000
Mindspeed Technologies, Inc.	425,000			900,000
Motorola Solutions, Inc.	20,000			220,000
NewStar Financial, Inc.			25,106	253,794
The Plymouth Rock Company, Inc.			100	69,900
QEP Resources, Inc.	8,200			260,500
Vical Inc.			10,000	260,000
Vodafone Group Plc.	220,000			500,000
Walgreen Co.			10,000	220,000

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(a)	Received as a dividend.

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STATEMENT OF INVESTMENTS
June 30, 2011
(Unaudited)

COMMON STOCKS 99.8%

Shares			Value
		Banking and Finance 3.8%
675,000		The Bank of New York Mellon Corporation	$	17,293,500
100,000		JPMorgan Chase & Co.		4,094,000
253,794		NewStar Financial, Inc. (a)		2,710,520
				24,098,020
		Commercial Services 1.2%
413,712		Heritage-Crystal Clean, Inc. (a)		7,934,996
		Diversified Industrial 11.0%
740,000		Brady Corporation Class A		23,724,400
230,000		Carlisle Companies Inc.		11,322,900
200,000		General Electric Company		3,772,000
100,000		Precision Castparts Corporation		16,465,000
180,000		Roper Industries, Inc.		14,994,000
				70,278,300
		Energy 10.8%
350,000		Canadian Oil Sands Ltd.		10,111,500
200,000		Devon Energy Corporation		15,762,000
2,000,000		GeoMet, Inc. (a)(b)		2,360,000
650,000		McMoRan Exploration Co. (a)		12,012,000
280,000		Murphy Oil Corporation		18,384,800
260,500		QEP Resources, Inc.		10,896,715
				69,527,015
		Health Care 2.8%
120,000		Abbott Laboratories		6,314,400
100,000		Johnson & Johnson		6,652,000
100,000		Medtronic, Inc.		3,853,000
260,000		Vical Inc. (a)		1,071,200
				17,890,600
		Insurance 27.3%
69,900		The Plymouth Rock Company, Inc.
		Class A (b)(c)		174,750,000
				174,750,000
		Retailing 1.5%
20,000		Aerogroup International, Inc. (a)(c)		415,200
220,000		Walgreen Co.		9,341,200
				9,756,400

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Shares			Value
		Semiconductor 14.5%
670,000		Analog Devices, Inc.	$	26,223,800
858,300		CEVA, Inc. (a)		26,143,818
1,500,000		Intel Corporation		33,240,000
900,000		Mindspeed Technologies, Inc. (a)		7,200,000
				92,807,618
		Software and Services 5.6%
1,700,000		Convergys Corporation (a)		23,188,000
1,190,000		Xerox Corporation		12,387,900
				35,575,900
		Technology Hardware and Equipment 17.9%
720,000		Agilent Technologies, Inc. (a)(f)		36,799,200
801,000		Coherent, Inc. (a)(f)		44,271,270
630,000		Flextronics International Ltd. (a)		4,044,600
62,500		Motorola Mobility Holdings, Inc. (a)		1,377,500
220,000		Motorola Solutions, Inc. (a)		10,128,800
1,190,000		RadiSys Corporation (a)		8,675,100
3,000,000		Sonus Networks, Inc. (a)		9,720,000
				115,016,470
		Telecommunication Services 3.4%
200,000		AT&T Inc.		6,282,000
145,425		Primus Telecommunications Group, Inc. (a)		2,181,375
500,000		Vodafone Group Plc. ADR		13,360,000
				21,823,375
		Total Common Stocks
		(cost $322,052,917)		639,458,694
		PREFERRED STOCKS 0.4%
		Energy 0.4%
223,598		GeoMet, Inc. Series A Convertible Redeemable
		Preferred Stock (b)(d)(cost $2,027,220)		2,515,478
		SHORT-TERM INVESTMENTS 0.0%
		Money Market Fund 0.0%
222,736		Fidelity Institutional Money Market
		Government Portfolio (cost $222,736)		222,736
		Total Investments (cost $324,302,873)(e)
		(100.2%)		642,196,908
		Cash, receivables and other assets
		less liabilities (.2%)		(1,063,983	)
		Net Assets (100%)	$	641,132,925

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(a)	Non-dividend paying.
(b)	Affiliate as defined in the Investment Company Act of 1940.
(c)	Valued based on Level 3 inputs – see Note 2.
(d)	Valued based on Level 2 inputs – see Note 2.
(e)	Aggregate cost for Federal tax purposes is substantially the same.
(f)	A portion of this security is pledged to cover outstanding borrowings at June 30, 2011.

See accompanying notes to financial statements.

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STATEMENT OF ASSETS AND LIABILITIES

June 30, 2011
(Unaudited)

ASSETS:
Investments:
General portfolio securities at market value
(cost $306,200,999)	$	462,348,694
Securities of affiliated companies (cost $17,879,138)
(Notes 5 and 6)		179,625,478
Short-term investments (cost $222,736)		222,736		$	642,196,908
Cash, receivables and other assets:
Cash		76,714
Receivable for securities sold		184,597
Dividends receivable		573,558
Office equipment and leasehold improvements, net		145,200
Other assets		128,776			1,108,845
Total Assets					643,305,753
LIABILITIES:
Bank borrowings		2,000,000
Accrued expenses and reserves		172,828
Total Liabilities					2,172,828
NET ASSETS				$	641,132,925
NET ASSETS are represented by:
Common Stock $1 par value: authorized
30,000,000 shares; issued 22,779,391 (Note 3)				$	22,779,391
Surplus:
Paid-in	$	287,582,722
Undistributed net gain on sales of investments		10,004,814
Undistributed net investment income		2,871,963			300,459,499
Net unrealized appreciation of investments					317,894,035
NET ASSETS				$	641,132,925
NET ASSET VALUE PER COMMON SHARE
(22,779,391 shares outstanding)				$	28.15

See accompanying notes to financial statements.

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STATEMENT OF OPERATIONS

For the six months ended June 30, 2011
(Unaudited)

INVESTMENT INCOME
Income:
Dividends from affiliated companies (Note 5)	$	3,899,000
Dividends from unaffiliated companies (net of
foreign withholding taxes of $31,015)		3,004,487		$	6,903,487
Expenses:
Administration and operations		553,202
Investment research		514,876
Occupancy and office operating expenses		248,559
Directors’ fees		75,500
Legal, auditing and tax preparation fees		65,169
Franchise and miscellaneous taxes		47,759
Software and information services		44,373
Stockholder communications and meetings		44,005
Transfer agent, registrar and custodian fees and expenses		36,003
Interest on bank borrowings		22,324
Travel and related expenses		16,005
Miscellaneous		37,702			1,705,477
Net investment income					5,198,010
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Net realized gain from:
Unaffiliated companies		9,817,010
Affiliated companies		291,000
Written options		45,749			10,153,759
Net increase in unrealized appreciation of investments					36,812,867
Net gain on investments					46,966,626
NET INCREASE IN NET ASSETS RESULTING FROM
OPERATIONS				$	52,164,636

See accompanying notes to financial statements.

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STATEMENTS OF CHANGES IN NET ASSETS

For the six months ended June 30, 2011
and the year ended December 31, 2010

	Six months ended June 30, 2011 (Unaudited)			Year ended December 31, 2010
FROM OPERATIONS:
Net investment income	$	5,198,010		$	10,211,569
Net realized gain from investment transactions		10,153,759			11,269,517
Net increase in unrealized appreciation of investments		36,812,867			83,824,721
Increase in net assets resulting from operations		52,164,636			105,305,807
DISTRIBUTIONS TO STOCKHOLDERS FROM:
Net investment income		(2,505,733	)		(10,098,352	)
Net realized gain from investment transactions		(2,050,145	)		(10,125,556	)
Decrease in net assets from distributions		(4,555,878	)		(20,223,908	)
FROM CAPITAL SHARE TRANSACTIONS: (Note 3)
Distribution to stockholders reinvested in Common Stock		—			6,668,364
Cost of Treasury shares purchased		—			(2,255,839	)
Increase in net assets from capital share transactions		—			4,412,525
Total increase in net assets		47,608,758			89,494,424
NET ASSETS:
Beginning of period		593,524,167			504,029,743
End of period (including undistributed net investment income
of $2,871,963 and $179,686, respectively)	$	641,132,925		$	593,524,167

See accompanying notes to financial statements.

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STATEMENT OF CASH FLOWS

For the six months ended June 30, 2011
(Unaudited)

CASH FLOWS FROM OPERATING ACTIVITIES:
Net increase in net assets from operations				$	52,164,636
Adjustments to net increase in net assets
from operations:
Purchase of securities	$	(32,807,612	)
Proceeds from securities sold		33,951,133
Net sales of short-term investments		454,274
Net realized gain from investment transactions		(10,153,759	)
Increase in unrealized appreciation of investments		(36,812,867	)
Depreciation and amortization		22,986
Changes in operating assets and liabilities:
Decrease in receivable for securities sold		1,132,763
Increase in dividends and interest receivable		(362,113	)
Increase in office equipment and leasehold
improvements		(11,924	)
Increase in other assets		(25,626	)
Decrease in accrued expenses and reserves		(411,970	)
Total adjustments					(45,024,715	)
Net cash provided by operating activities					7,139,921
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends and distributions paid		(4,555,878	)
Net decrease in bank borrowings		(3,000,000	)
Cash flows used in financing activities					(7,555,878	)
Net decrease in cash					(415,957	)
Cash at beginning of period					492,671
Cash at end of period				$	76,714
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid on bank borrowings	$	27,352

See accompanying notes to financial statements.

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NOTES TO FINANCIAL STATEMENTS — (Unaudited)

     1. Significant Accounting Policies — Central Securities Corporation (the “Corporation”) is registered under the Investment Company Act of 1940, as amended, as a non-diversified, closed-end management investment company. The following is a summary of the significant accounting policies consistently followed by the Corporation in the preparation of its financial statements. These policies are in conformity with generally accepted accounting principles.

Security Valuation — Marketable common and preferred stocks are valued at the last or closing sale price or, if unavailable, at the closing bid price. Written options are valued at the last quoted asked price. Investments in money market funds are valued at net asset value per share. Securities for which no ready market exists are valued at estimated fair value by the Board of Directors.

Federal Income Taxes — It is the Corporation’s policy to meet the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute all of its taxable income and net capital gains to its stockholders. In addition, management has analyzed positions taken on the Corporation’s tax returns and has determined that no provision for income taxes is required in the accompanying financial statements.

Use of Estimates — The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported. Actual results may differ from those estimates.

Other — Security transactions are accounted for as of the trade date, and cost of securities sold is determined by specific identification. Dividend income and distributions to stockholders are recorded on the ex-dividend date.

     2. Fair Value Measurements — The Corporation’s investments are categorized below in three broad hierarchical levels based on market price observability as follows:

• Level 1 — Quoted prices in active markets for identical investments;

• Level 2 — Other significant observable inputs obtained from independent sources, for example, quoted prices for similar investments or the use of models or other valuation methodologies;

• Level 3 — Significant unobservable inputs including the Corporation’s own assumptions based upon the best information available. Investments categorized as Level 3 include securities in which there is little, if any, market activity. The Corporation’s Level 3 investments consist of The Plymouth Rock Company, Inc. and Aerogroup International, Inc.

     The designated Level for a security is not necessarily an indication of the risk associated with investing in that security.

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NOTES TO FINANCIAL STATEMENTS — continued (unaudited)

     The Corporation’s investments as of June 30, 2011 are classified as follows:

	Level 1			Level 2			Level 3			Total Value
Common Stocks	$	464,293,494			—		$	175,165,200		$	639,458,694
Preferred Stocks		—		$	2,515,478			—			2,515,478
Short-term Investments		222,736			—			—			222,736
Total	$	464,516,230		$	2,515,478		$	175,165,200		$	642,196,908

     There were no significant transfers of investments between Levels 1, 2 or 3 during the six months ended June 30, 2011. The following is a reconciliation of the change in the value of Level 3 investments:

Balance as of December 31, 2010	$	168,455,000
Net realized gains and change in unrealized
appreciation of investments included in net
increase in net assets resulting from operations		7,008,200
Sales		(298,000	)
Balance as of June 30, 2011	$	175,165,200

     The change in unrealized appreciation of Level 3 investments held at June 30, 2011 included in the above table was $6,950,200. In valuing Level 3 investments, the Corporation considers the results of various valuation methods, which may include comparable company valuation analyses, discounted cash flow models and recent private transactions. Consideration is also given to corporate governance, marketability, independent appraisals obtained from portfolio companies, company and industry results and outlooks, and general market conditions. The determination of fair value involves subjective judgments. As a result, using fair value to price a security may result in a price materially different from the price used by other investors or the price that may be realized upon the actual sale of the security.

     In May 2011, the Financial Accounting Standards Board issued Accounting Standards Update No. 2011-04 (the “ASU”), which clarifies the application of existing fair value measurement and disclosure requirements and changes certain accounting principles or requirements for measuring fair value or for disclosing information about fair value measurements. The amendments in the ASU are effective at the beginning of the Corporation’s 2012 fiscal year. Management is assessing the effect of the ASU on the Corporation’s financial statements but currently believes the impact principally will result in increased disclosures about the Corporation’s Level 3 securities.

     3. Common Stock — The Corporation did not purchase any shares of its Common Stock in the first six months of 2011. It may from time to time purchase its Common Stock in such amounts and at such prices as the Board of Directors deem advisable in the best interests of the stockholders. Purchases will only be made at less than net asset value per share, thereby increasing the net asset value of shares held by the remaining stockholders. Shares so acquired may be held as treasury stock available for stock distributions, or may be retired.

     4. Investment Transactions — The aggregate cost of securities purchased and the aggregate proceeds of securities sold during the six months ended June 30, 2011, excluding option transactions and other short-term investments, were $32,805,662 and $33,893,035, respectively.

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NOTES TO FINANCIAL STATEMENTS — continued (unaudited)

     As of June 30, 2011, based on cost for Federal income tax purposes, the aggregate gross unrealized appreciation and depreciation for all securities were $351,943,013 and $34,048,978, respectively.

     5. Affiliates — The Plymouth Rock Company, Inc. and GeoMet, Inc., are affiliates as defined in the Investment Company Act of 1940 due to the Corporation owning 5% or more of these companies’ outstanding voting securities. During the six months ended June 30, 2011, the Corporation received dividends of $3,899,000 from Plymouth Rock and sold 100 shares of Plymouth Rock at a gain of $291,000. The Corporation also received as dividends 13,345 additional shares of GeoMet Preferred Series A stock. Net unrealized appreciation related to affiliates increased by $7,156,359 for the six months ended June 30, 2011 to $161,746,340. The President of the Corporation is a director of Plymouth Rock.

     6. Restricted Securities — The Corporation from time to time invests in securities the resale of which is restricted. The Corporation does not have the right to demand registration of the restricted securities. On June 30, 2011, such investments had an aggregate value of $175,165,200, which was equal to 27.3% of the Corporation’s net assets. Investments in restricted securities at June 30, 2011, including acquisition dates and cost, were:

Company	Shares	Security	Date Acquired	Cost
Aerogroup International, Inc.	20,000	Common Stock	6/14/05	$	11,719
The Plymouth Rock Company, Inc.	60,000	Class A Stock	12/15/82		1,500,000
The Plymouth Rock Company, Inc.	9,900	Class A Stock	6/9/84		692,986

     7. Options Written — From time to time, the Corporation writes option contracts to generate additional return. When the Corporation writes an option, a liability is recorded in an amount equal to the premium received and is subsequently marked to market in the Statement of Assets and Liabilities, with any related change recorded as an unrealized gain or loss in the Statement of Operations. Upon the exercise of written call option contracts, premiums received are added to the proceeds from the sale of the underlying securities in determining whether there is a realized gain or loss. Upon the exercise of written put options, premiums received are subtracted from the cost of the purchase of the underlying securities. On the expiration date, premiums received from unexercised options are treated as realized gains.

     When writing a covered call option, the Corporation forgoes, during the option’s life, the opportunity to profit from increases in the market value of the security underlying the call option above the sum of the option premium received and the exercise price of the call, but has retained the risk of loss should the price of the underlying security decline below the exercise price minus the option premium received.

     When writing a put option, the Corporation has the obligation during the option’s life to purchase the securities underlying the option at an agreed-upon exercise price. The Corporation’s obligation is secured by segregating with its custodian liquid investments with a value at least equal to the amount the Corporation would be required to pay if the option were exercised. The Corporation will lose money if the securities purchased decrease in value below the exercise price by more than the premium received by the Corporation for writing the option.

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NOTES TO FINANCIAL STATEMENTS — continued (unaudited)

     The Corporation’s activity in written options during the six months ended June 30, 2011 is summarized as follows:

	Number of Shares		Premiums Received
Options outstanding at December 31, 2010	—			—
Options written	55,000		$	58,099
Options terminated in closing transactions	(25,000	)		(15,500	)
Options exercised	(10,000	)		(10,400	)
Options expired	(20,000	)		(32,199	)
Options outstanding at June 30, 2011	—			—

     8. Bank Line of Credit — The Corporation has entered into a $25 million uncommitted, secured revolving line of credit with UMB Bank, n.a. (“UMB”), the Corporation’s custodian. All borrowings are payable on demand of UMB. Interest on any borrowings is payable monthly at a rate based on the federal funds rate, subject to a minimum annual rate of 2.50% (2.75% prior to March 18, 2011). At June 30, 2011, outstanding borrowings under the line were $2,000,000 at an annual interest rate of 2.50%. These borrowings were secured by portfolio holdings that had an aggregate value of $10,638,000 as of June 30, 2011. During the six months ended June 30, 2011, average borrowings outstanding (based on the days when there were borrowings outstanding) were approximately $2,949,000, and total interest expense was $22,324. The average interest rate paid on these borrowings was 2.67% per annum.

     9. Operating Expenses — The aggregate remuneration paid during the six months ended June 30, 2011 to officers and directors amounted to $713,000, of which $75,500 was paid as fees to directors who were not officers. Employees also participate in a profit sharing retirement plan. Contributions to the plan are made at the discretion of the Board of Directors, and each participant’s benefits vest after three years of employment. No contributions were made to the plan for the six months ended June 30, 2011.

     10. Operating Lease Commitment — The Corporation has entered into an operating lease for office space which expires in 2014 and provides for future minimum rental payments in the aggregate amount of approximately $1.0 million as of June 30, 2011. The lease agreement contains escalation clauses relating to operating costs and real property taxes. Future minimum rental commitments under the lease are $170,903 remaining for 2011, $341,806 annually in 2012-2013 and $170,903 in 2014.

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FINANCIAL HIGHLIGHTS

     The following table shows per share operating performance data, total returns, ratios and supplemental data for the six months ended June 30, 2011 and each year in the five-year period ended December 31, 2010. This information has been derived from information contained in the financial statements and market price data for the Corporation’s shares.

     The Corporation’s total returns reflect changes in market price or net asset value, as applicable, and assume reinvestment of all distributions. Distributions that are payable only in cash are assumed to be reinvested at the market price or net asset value, as applicable, on the payable date of the distribution. Distributions that may be taken in shares are assumed to be reinvested at the price designated by the Corporation.

	Six Months Ended June 30, 2011 (Unaudited)			2010			2009			2008			2007			2006
Per Share Operating Performance
Net asset value, beginning of period	$	26.06		$	22.32		$	17.79		$	30.15		$	30.05		$	27.65
Net investment income*		.23			.45			.29			.39			.38			.36
Net realized and unrealized gain (loss)
on securities*		2.06			4.19			4.89			(10.29	)		2.12			4.26
Total from investment
operations		2.29			4.64			5.18			(9.90	)		2.50			4.62
Less:
Dividends from net investment income		.11			.45			.33			.36			.37			.36
Distributions from capital gains		.09			.45			.32			2.10			2.03			1.86
Total distributions		.20			.90			.65			2.46			2.40			2.22
Net asset value, end of period	$	28.15		$	26.06		$	22.32		$	17.79		$	30.15		$	30.05
Per share market value, end of period.	$	23.88		$	21.97		$	17.98		$	14.40		$	26.84		$	26.65
Total investment return, market(%) .		9.57			27.14			26.97			(39.63	)		9.86			21.31
Total investment return, NAV(%)		8.79			21.73			30.15			(32.66	)		9.35			18.55
Ratios/Supplemental Data:
Net assets, end of period(000)	$	641,133		$	593,524		$	504,030		$	397,353		$	644,823		$	617,167
Ratio of expenses to average net
assets(%)		.54	†		.78			.91			.66			.59			.53
Ratio of net investment income to
average net assets(%)		1.64	†		1.92			1.49			1.43			1.21			1.23
Portfolio turnover rate(%)		5.18			6.67			7.94			11.04			19.58			17.55

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*	Based on the average number of shares outstanding during the period.
†	Annualized, not necessarily indicative of full year ratio.

See accompanying notes to financial statements.

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OTHER STOCKHOLDER INFORMATION

Direct Registration

     The Corporation utilizes direct registration, a system that allows for book-entry ownership and the electronic transfer of the Corporation’s shares. Stockholders may find direct registration a convenient way of managing their investment. Stockholders wishing certificates may request them.

     A pamphlet which describes the features and benefits of direct registration, including the ability of shareholders to deposit certificates with our transfer agent, can be obtained by calling Computershare Trust Company at 1-800-756-8200, calling the Corporation at 1-866-593-2507 or visiting our website: www.centralsecurities.com under Contact Us.

Proxy Voting Policies and Procedures

     The policies and procedures used by the Corporation to determine how to vote proxies relating to portfolio securities and the Corporation’s proxy voting record for the twelve-month period ended June 30, 2011 are available: (1) without charge, upon request, by calling us at our toll-free telephone number (1-866-593-2507), (2) on the Corporation’s website at www.centralsecurities.com and (3) on the Securities and Exchange Commission’s website at www.sec.gov.

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Quarterly Portfolio Information

     The Corporation files its complete schedule of portfolio holdings with the SEC for the first and the third quarter of each fiscal year on Form N-Q. The Corporation’s Form N-Q filings are available on the SEC’s website at www.sec.gov. Those forms may be reviewed and copied at the SEC’s Public Reference Room in Washington D.C. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

Annual Meeting of Stockholders

     The annual meeting of stockholders of the Corporation was held on March 9, 2011. At the meeting, all of the directors of the Corporation were reelected by the following vote of the holders of the Common Stock:

	In Favor	Withheld
Simms C. Browning	20,440,959	856,070
Donald G. Calder	20,443,845	853,184
David C. Colander	20,446,405	850,624
Jay R. Inglis	20,420,810	876,219
Wilmot H. Kidd	20,416,095	880,934
C. Carter Walker, Jr.	20,431,239	865,790

     In addition, the selection of KPMG LLP as independent auditors of the Corporation for the year 2011 was ratified by the following vote of the holders of the Common Stock:

In Favor	Against	Abstain
20,445,422	749,809	101,798

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BOARD OF DIRECTORS

Wilmot H. Kidd, Chairman
C. Carter Walker, Jr., Lead Independent Director
Simms C. Browning
Donald G. Calder
David C. Colander
Jay R. Inglis

OFFICERS

Wilmot H. Kidd, President
Marlene A. Krumholz, Vice President and Secretary
Lawrence P. Vogel, Vice President and Treasurer

OFFICE

630 Fifth Avenue
New York, NY 10111
212-698-2020
866-593-2507 (toll-free)
www.centralsecurities.com

TRANSFER AGENT AND REGISTRAR

Computershare Trust Company, N.A.
P.O. Box 43069, Providence, RI 02940-3069
800-756-8200
www.computershare.com

CUSTODIAN

UMB Bank, n.a.
Kansas City, MO

INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

KPMG LLP
New York, NY

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Item 2. Code of Ethics. The information required by this Item is only required in an
annual report on this Form N-CSR.

Item 3. Audit Committee Financial Experts. The information required by this Item is
only required in an annual report on this Form N-CSR.

Item 4. Principal Accountant Fees and Services. The information required by this
Item is only required in an annual report on this Form N-CSR.

Item 5. Audit Committee of Listed Registrants. The information required by this
Item is only required in an annual report on this Form N-CSR.

Item 6. Investments.
(a) Schedule is included as a part of the report to shareholders filed under Item 1 of this Form.

(b) Not applicable.

Item 7. Disclose Proxy Voting Policies and Procedures for Closed-End Management Companies.
The information required by this Item is only required in an annual report on this Form N-CSR.

Item 8. Portfolio Managers of Closed-End Management Investment Companies. The information
required by this Item is only required in an annual report on this Form N-CSR.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and
Affiliated Purchasers.

Period	(a) Total Number of Shares (or Units) Purchased	(b) Average Price Paid per Share (or Unit)	(c) Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs	(d) Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs
Month #1 (January 1 through January 31)	0	NA	NA	NA
Month #2 (February 1 through February 28)	0	NA	NA	NA
Month #3 (March 1 through March 31)	0	NA	NA	NA
Month #4 (April 1 through April 30)	0	NA	NA	NA
Month #5 (May 1 through May 31)	0	NA	NA	NA
Month #6 (June 1 through June 30)	0	NA	NA	NA
Total	0	NA	NA	NA

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Item 10. Submission of Matters to a Vote of Security Holders. There have been no changes to the procedures by which shareholders may recommend nominees to the registrant’s board of directors since such procedures were last described in the Corporation’s proxy statement dated February 3, 2011.

Item 11. Controls and Procedures.

(a) The Principal Executive Officer and Principal Financial Officer of Central Securities Corporation (the “Corporation”) have concluded that the Corporation’s Disclosure Controls and Procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.

(b) There have been no changes in the Corporation’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Corporation’s internal control over financial reporting.

Item 12. Exhibits.

(a)(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit. The information required by this Item is only required in an annual report on this Form N-CSR.

(a)(2) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940. Attached hereto.

(a)(3) Any written solicitation to purchase securities under Rule 23c-1 under the Act sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons. Not Applicable.

(b) Certifications of the principal executive officer and principal financial officer, as required by Rule 30a-2(b) under the Investment Company Act of 1940. Attached hereto.

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SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Central Securities Corporation

By: /s/ Wilmot H. Kidd
Wilmot H. Kidd
President

August 9, 2011
Date

     Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capabilities and on the dates indicated.

By: /s/ Wilmot H. Kidd
Wilmot H. Kidd
President

August 9, 2011
Date

 

By: /s/ Lawrence P. Vogel
Lawrence P. Vogel
Treasurer

August 9, 2011
Date

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