I Inherited a Stamp Collection...

This article could have just as easily been titled, "I just found some stamps in an old desk..." or "I found my old stamp collection up in the attic from when I was a kid..." or some similar theme.  This is intended for someone who knows next to nothing about stamp collecting, has come into possession of some stamps and wishes to know what they are worth.  As with all collectible items, stamps are worth what someone is willing to pay for them.  Learning what that might be will require doing your homework. It is highly unlikely that you will instantly find someone who will give you enough for your retirement, but by searching through the philatelic world for the best place to sell your stamps, you could do very well.

The first step in educating yourself should be to check your local public library for a Scott or Minkus (or other) stamp catalog.  Check the catalog out from the library, take it home, and compare your stamps to the listings.  Read the introductory paragraphs in the catalog to see how stamps' values are determined and how you should judge the stamps.  Remember that stamp catalog values are for excellent examples of each given stamp and that stamps with heavy cancels or tears or pieces missing will bring much less, if anything at all.  And remember that most unused stamps released since 1940 aren't worth much more than face value if you're trying to sell them; a lot of those you can use for postage.  Also be aware that a dealer will likely pay less than half catalog value, since he has to make his profit margin and cover his expenses to stay in business selling stamps.

After you've consulted a catalog, if you don't know any stamp collectors to ask, check your local yellow pages for stamp dealers.  Find three or four if you can and ask them to take a look at your stamps.  This process will take time, and you will have to go to their locations to get them to look at your stamps.  Or if a stamp show is held in your area, go to the show and ask dealers there.  In the stamp business, as in any collectibles area, you need to find the right dealer for the material you have.  The "right" dealer will know to whom he can resell your material.  As you "do your homework" by asking several dealers about value, you will begin to get an idea of the true worth of your stamps.  You will have to use your own judgement to evaluate the honesty of those you ask, but you will find that most are honest, even if they're not knowledgeable.

If your stamps turn out to be fairly valuable (hundreds or thousands of dollars), it might be worth your while to offer the material at auction.  As with finding a dealer, you'd need to do your homework on auction houses to find the best place to offer your stamps.  The point of all this is that the more time you spend "doing your homework," the better price realization you are likely to get for your stamps.  You may find that after only a short search for information you will learn that what you have isn't worth much.  That is the most likely outcome.  However, if the collection was put together by a knowledgeable collector, it may well have "goodies" that have appreciated tremendously over the decades.  There's only one way for you to find out if that's true: Do your homework!!

After doing your homework, you may find yourself fascinated to the point you will not only be the owner of an old collection but a builder of a new and better collection!

For additional viewpoints on this topic, visit the following web pages:

Happy Collecting!!