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
Related Posts -
U.S. Air Mail Stamps Stamps -> United-States -> Postage Collecting US Airmail stamps has become such a popular hobby, by both those who collect all sorts of stamps and those who are just interesting in United States airmail stamps, that there are clubs and associations based on just that hobby. The American Air...... -
US Stamps Stamps -> US Stamps : 19th Century Unused, 19th Century Used Collecting stamps from around the world is a popular hobby for many, but there are also many valuable stamps that are hard to find. US Stamps in particular can be very rare, and there are quite a few that...... -
Collectible Stamps Stamps -> United States -> 19th Century - Unused Finding the best collectible stamps can sometimes be difficult, especially if you don’t know what to look for. It’s never easy to guess when it comes to stamps, and if you are a serious collector, it pays to subscribe to stamp...... -
Swiss Soldier Stamps Stamps -> Europe -> Switzerland Some people, even those who have been collecting stamps for years, may never have heard of Swiss soldier stamps. That’s because these stamps weren’t actually postage stamps for use at large, they were created for the Swiss soldiers who were activated to full duty to...... -
Benefits of Collecting Old Stamps Collecting old stamps, especially vintage postage stamps can bring great value. Collecting old stamps can be fun and educational, it can be affordable, and it can bring about understanding of history, art, travel and many other areas of culture as well. Here is an explanation of why collecting old stamps......
Related Websites -
What's the Purpose of a Concrete Stamp A concrete stamp gives poured concrete the appearance of almost any type of surface you can imagine will from cobblestone to brick to wood, depending on the design of the stamp. A sidewalk, patio or driveway can be poured and made to look like something else with a concrete stamp....... -
Why It is Important to Get Your Currency Graded by the Paper Money Guaranty As a collector, you are sure to be aware of all of the different pieces that you have in your collection as well as what their value is. You know this because you know what their grade is above all else. If you do not know what their grade is,...... -
Get to Know the American Collectible Gold Coins Gold has always been a highly valuable commodity. It caused a rush in the west when it was discovered and has been valuable throughout time. This is why so many civilizations used it to create their currency. The gold coins which were created have been used throughout time either because...... -
Get to Know the Most Collectible Coins in the World There are quite a few people in the world collecting coins. The coins which are being collected range from the ordinary to the extremely rare. The kind of people collecting coins also range from the child collecting the coins they find in pocket change to the serious collectors spending millions...... -
Earn a Profit Collecting Rare Coins If you are looking to earn a profit with a unique type of collection, then one of the collection options that you may want to consider is rare coins. When you are collecting coins for the purpose of an investment, then it is probably going to follow that you are......
Knowing the meanings of certain stamp terms is an important part of 
