Stamp Collecting on a Budget - Some Do's and Don'ts


Stamp collectors generally want to acquire as many stamps as possible for their collections, but not being made of money, most of us need a few practical guidelines to keep the costs down.  This post is intended to share a few of the do's and dont's I use to be able to collect stamps while staying within my budget.

To collect stamps on a budget,

Don't:

• Buy unused new issue stamps from the postal administration or a new issues stamp dealer.  This might be the most convenient way to enhance your stamp collection, but it's also the most expensive.  And worst of all, it's too easy - there's no challenge and no "thrill of the hunt" when you buy your stamps this way.  It's much more fun and rewarding to look for the same stamps in used condition, and buying them used is almost always cheaper too.
• Buy single stamps or complete sets from stamp dealers or at stamp auctions unless the stamps are scarce or you need them very badly for your collection because they're key items.  You might think this is bad advice, but this is usually a somewhat expensive way to fill out your stamp collection. 
• Don't visit stamp auction sites such as Stampwants or eBay more than a couple of times per month.   This will help you avoid temptation and reduce impulse, spur-of-the-moment purchases.  
• Pay more than you originally intended.  It's easy to get carried away and pay more than you want, especially with online auctions.  Stick to your guns and don't pay more than you really want to.

Do:

• Buy stamps and other philatelic items in large lots.  Usually the larger, the better.  Stamp lots that include hundreds or thousands of stamps provide hours and hours of fun and generally are very inexpensive.  Even better, buy stamps by weight, in lots measured by ounces, pounds or kilograms.  Because you never know what you will find, there's nothing that will juice you up like buying unsorted on or off paper stamp mixtures, kiloware, old stamp collections or similar stamp lots on a regular basis.  Some of the stamps will be duplicates, but they're good fodder for trading.  There's no cheaper way to buy stamps and build your collection on a budget, because each stamp in a lot like that will probably cost only a tenth or two of a cent.  And you never know, people find valuable vintage stamps and scarce varieties that way all the time.  There's no reason why one of those people can't be you.
• Educate yourself about your stamp collection and the stamps that you're interested in.  This helps to prevent you from overpaying, but it also helps you know that sometimes, a stamp you may think is just "junk" or a duplicate may actually have a lot of value due to being a scarce variety or having a scarce cancellation, precancel or perfin.  This is how the real bargains in large stamp lots are found.

If those of you reading this have additional suggestions about how to collect stamps on a budget, we'd be pleased if you'd share them here by posting a comment.