Often people ask me for advice on what to do with their newly inherited or given stamp collection, usually with a bent on selling it. These are a few pointers I have slapped together. Number one: do not get your hopes up. Most people see albums or boxes full of old stamps and they think “eureka!” The boring reality is that the greater parts of the majority of stamps are fairly common, and are therefore worth next to nothing, even the really old ones. Another fact is that most collectors do so for personal enjoyment, and not for an investment.

That said, there are a few exceptions and certain collections could be worth quite a bit. How would you get an idea of the worth of a collection? Easiest method is to find records left by the original collector that details the contents of it and its value. Should the collection have been insured, the total of the insurance taken out can also be an indicator. You do need to be aware though, that collectors value all of their stamps at retail, meaning what it would cost you to buy the stamps from dealers. You also need to figure in a collector’s natural tendency to exaggerate the value a bit. If you do go and sell the collection, do not be surprised if the offers you get are only in the neighborhood of 10% to 20% of the claimed value, possibly less.

If you are unable to get an approximate value of your collection due to lack of records and such, you do have several other methods by which you could approach the problem.

Do the footwork yourself. This method will involve a lot of time as well as effort, but in the end it will be the best way to obtain an accurate idea of what all is in the collection, as well as what it really is worth. Basically, the process goes as follows. Buy a Scott Postage Stamp Catalog, which can be had in many a public library. The catalogs come in six different volumes, each of which contain listings, and pictures, and are organized by country.

You should locate each stamp you have and the catalog will have its value. This “catalog” value is, theoretically, the price you would have to pay to buy this stamp through a retail stamp dealer. Really, this value also tends to be rather inflated, and you will be able to buy stamps from a dealer for a lot less than that value. You should expect to actually get a lot less than this when selling.

Contract an appraiser. You can pay an appraiser who will then examine the entire collection and provide you with a written estimate for its value. The appraiser is not someone who is interested in buying your collection, and so has no personal motivations to value your collection too low in the hopes that they could get a good deal, in case you were worried about that. You pay an appraiser a fee, and this fee should always definitely be agreed upon ahead of time to prevent any issues.

Photo credits: Le Petit Poulailler

Originally posted 2009-12-09 03:19:50. Republished by Blog Post Promoter

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Knowing the meanings of certain stamp terms is an important part of stamp collecting because it means you have a thorough understanding of what you are doing. Here are some of the stamp terms that are well worth knowing:

Adhesive – This is, in actuality, exactly what a stamp is. A stamp is simply a piece of paper that pays for postage when it is applied to a piece of mail. A stamp is a piece of paper that has a pressure sensitive or gummed back.

Airmail Stamps – These are postage stamps that are used to pay postage rates for airmail. The United States stopped issuing airmail-specific stamps during the 1970s, which was when they began to send all mail via air.

As Is - This is a term that is often used in auctions, denoting that a stamp is being sold without any additional guarantees attached to it.

Authentication Mark – This is a tiny mark appearing on many rare and older postage stamps. What it is meant to do is to denote that the stamp has been examined by an expert, and that its authenticity has been approved.

Backstamp – This is a postmark that is applied to a cover’s reverse, indicating the transit or the receipt of mail.

Block - This is an un-separated, even numbered selection of stamps, such as a block of four stamps, six stamps, twelve stamps or so on.

Bogus - This is a fictitious label that appears like a stamp, but that is created specifically for being sold to collectors. Bogus stamps are not used for postage, but simply for displaying and collecting.

Cancel - This is a marking that indicates that a postage stamp has already been used.

Catalog - This is a comprehensive listing of revenue and postage stamps, including their illustrations and their current price valuations as well.

Catalog Value – This is the value of a particular stamp as given or indicated by a particular stamp catalog.

Centering – This is the position of the design of the stamp in relation to the margins that surround it. Centering is particularly important in the determination of a value on a stamp.

Classic Stamp – This is an early stamp issue that has the connotation of rarity.

Coil - These are stamps that are prepared in rolls from between 100 and 1000 stamps that are inserted into vending machines.

Commemorative – These are stamps that are issued for the purpose of honoring a person, a place or an event.

Condition - This is the stamp’s overall state, including the state of the gum, the centering of the stamp, the presence of damage on the stamp and so on.

Counterfeit - This describes a stamp or a cover or a cancellation that was created in order to deceive.

Crease – This is a fold indicating a weakening of the stamp’s paper.

Photo credits: karen horton

Originally posted 2009-11-11 03:57:41. Republished by Blog Post Promoter

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