Some tips from an experienced collector and dealer on what to do when you think you've found a valuable stamp ~ Published: 2008-08-24 15:01:48

Think You've Got a Valuable Stamp? - Well, Maybe....

By Jeffrey A. Walker

Stamp collecting has it's many benefits, which includes relaxation and taking your mind off troubles. It satisfies the need for collecting and organizing that gives us a sense of inner joy. There is also the aspect of learning about other cultures and history. But there are others, to the uninitiated to the hobby, and the beginning collector, the lure of making money collecting stamps, as well as finding a rarity among a collection of old letters, or maybe a huge box of stamps. Fun things to dream about, and it is subject that collectors often turn to in conversation, because it IS fun to discuss, and sometimes does happen.

When I was a young collector, I made some mistakes along these lines. Be wary of easy finds, like the Powerball, winners exist, but not in the quantity we'd like. It's very embarrassing to get excited and tell your friends about a new discovery, (like I did) only to find that you "rarity" was actually quite common. If you're with friends, they'll treat you fairly, because they've been there too... but let's look at some thoughts that might help you from making a mistake.

Make the stamp catalog your friend

It is almost impossible to sanely collect stamps without a stamp catalog, Scotts being on of the more popular ones. If you don't have one, as a fellow collector. I have several older catalogs I provide to collectors, just ask! A stamp catalog is not just for looking up stamps though, there is a wealth of information on watermarks, perforations and other things that will make you a better collector. Spend the time educating yourself. It will pay for itself in helping you enjoy your hobby more.

If you find a stamp that lists as valuable...

...keep looking down the list – There are a lot of ordinary stamps with valuble "sisters and brothers". The variations between these can be very subtle and technical. I made this mistake myself with a stamp from Ceylon, I was figuring out how to spend my "treasure of cash" when I called a friend, who sadly informed me that my $27,000 stamp was actually down the page at 75 cents his wise advice to me was this... "If you have a stamp with two possible values" assume it is the least valuble, until you can prove otherwise" - good advice!

Seek a local expert opinion, but beware!

This is the beauty of a stamp club (River Valley Stamp Club included). Here you can find knowledgeable collectors that can give an seasoned opinion. A good fellow collector will never try and make a profit from you. If you find an experienced collector making you an offer on a item, it may be a good indication that it might be more valuble. Covet their friendship, but go to step the next step.

Employ the power of the Internet to find a specialized collector

The Internet can be an awesome resource for you to find experts in a niche area. A couple of years ago, I was working through a box of material I obtained from a stamp show. Imagine my excitement when I started digging through some album pages with some back of the book overprinted issues.... $2100, $1300, $750, $5000. The notations on the page showed the previous owner from years ago thought the same... Wow! I can pay my house off! I was so excited! But fortunately, I sought the help of an expert in that field. I scanned the pages and emailed them to him. Within a short time, I got a response. These particular issues had forged overprints... guess what mine were? Without the expert, I would have looked very silly. Make use of them, they usually enjoy looking at such things, it helps them grow as well.

Leave the stamps on their envelopes

If you find a horde of covers avoid the temptation to soak the stamps off them! - I've seen this SO many times. Collectors, or the uninitiated, find a treasure-trove of cards and letters in an auction or attic. Few realize, until it is too late, that even common inexpensive stamps can be very valuable in the context of the envelope they are on. As I look through piles of stamps for my collection, I come across stamps with cancels that I wish someone had left on cover, because the cancels show there might have been potential value. Be careful to leave them intact, until you know for sure what you have.

Take the next step

If, after all the local experts have been consulted it has passed the muster of the local and internet experts as a strong candidate, it may be time to "crank it up a notch" and contact an expertizing service, but once again, avoid the temptation to sell to the appraiser. Take it to the APS expertizing service, it will cost something usually less than $100, but if it passes this test, you will receive a certificate, which is equivalent to a "dog with papers". Having a valuble stamp can actually be a burden, you may want to consider contacting several auction houses and dealers before you sell.. remember Mr Robley, who sold the entire sheet of inverted Jenny's for $5000. If you make it to this step, seek help in disposing of your valuble asset (I'm dreaming here).

Avoid collecting for profit

This is, unfortunately a common mistake of young collectors. There can be money to be made in stamps, but usually stamps are a poor investment for the masses. People that have made money in stamps have bought them to complete collections and normally don't care about the value, till years later. If you look to stamps as investments, you'll find yourself buying stuff that you really don't enjoy because you think it will pay off in the future. It can lead to greed, and greedy people often get taken to the cleaners by scoundrels. "Collect what you enjoy, enjoy what you collect". Leave the "investments" to the bankers and others.