Legendary Stamp Collectors - Ferrary
Philipp von Ferrary, probably the world's foremost stamp collector with the possible exception of Queen Elizabeth II, assembled the most complete stamp collection in the world. A member of the French nobility, he eventually renounced his titles and asked to simply be known as "Ferrary," which is how most stamp dealers and collectors refer to him even today.
Stamps were Ferrary's passion, and he began collecting at a young age. Eventually it became so large that he hired people to maintain it. His worldwide stamp collection was amazingly complete, and included true stamp rarities such as the unique Tre Skilling Yellow of Sweden, the 1856 one cent "Black on Magenta" of British Guiana and an unused copy of the two cent Hawaiian
Missionary stamp of 1851, for which its previous owner had been murdered by a fellow stamp collector.
After the outbreak of World War I, Ferrary willed his stamp collection to the Berlin Postmuseum in hopes that it would be made accessible to the public after his death. Late in the war he moved from France to Switzerland, leaving several hundred stamp albums in the safekeeping of the Austrian embassy in Paris. He died shortly after moving, so he was fortunate to not witness what happened next. After the war's end the French government seized his incredible collection, claiming it as reparations for the war. It was broken up and sold off, bit by bit, over the next several years for a total of around 30 million francs.
His legacy lives on, however: many rare stamps proudly bear an "ex-Ferrary" in their provenance. Ferrary compiled an unequalled collection, and his name will live on in philatelic history for as long as the hobby exists.
Showing posts with label valuable stamps. Show all posts
Showing posts with label valuable stamps. Show all posts
Tuesday, April 28, 2009
Invert Stamp Errors - Collectible and Valuable Stamps
One of the attractions of stamp collecting is its potential for profit down the road. Stamps as investments are currently outperforming the stock market by a wide margin.
We've already discussed some of the most valuable stamps in the world, including the one cent British Guiana black on magenta, the Treskilling Banco Yellow stamp and the US Benjamin Franklin one cent Z Grill. But many other stamps are valuable too. Some of the most interesting valuable stamps are invert errors.
Invert stamp errors are stamps where part of the image is accidentally printed upside-down. They occur (very rarely, hence their high value) in multi-color stamps that are printed by passing the stamp paper through the printing press more than once. After one or more passages through the press (each passage prints a particular color used in the stamp), someone accidentally feeds the paper through the wrong way for the next color, and that part of the image is then printed upside-down relative to the other image components. The invert stamps are usually caught almost immediately and destroyed by the printer before they ever reach the public. But every so often a glorious moment (for stamp collectors) occurs, and invert stamps are purchased by the public before the mistake is ever noticed. Because they're so rare, many are worth a small fortune.
A few famous invert errors include the US "CIA Invert," Scott 1610c, the Canadian "St. Lawrence Seaway Invert," Scott 387a, and the US "Inverted Jenny," Scott C3a, but there are others.
One of the attractions of stamp collecting is its potential for profit down the road. Stamps as investments are currently outperforming the stock market by a wide margin.
We've already discussed some of the most valuable stamps in the world, including the one cent British Guiana black on magenta, the Treskilling Banco Yellow stamp and the US Benjamin Franklin one cent Z Grill. But many other stamps are valuable too. Some of the most interesting valuable stamps are invert errors.
Invert stamp errors are stamps where part of the image is accidentally printed upside-down. They occur (very rarely, hence their high value) in multi-color stamps that are printed by passing the stamp paper through the printing press more than once. After one or more passages through the press (each passage prints a particular color used in the stamp), someone accidentally feeds the paper through the wrong way for the next color, and that part of the image is then printed upside-down relative to the other image components. The invert stamps are usually caught almost immediately and destroyed by the printer before they ever reach the public. But every so often a glorious moment (for stamp collectors) occurs, and invert stamps are purchased by the public before the mistake is ever noticed. Because they're so rare, many are worth a small fortune.
A few famous invert errors include the US "CIA Invert," Scott 1610c, the Canadian "St. Lawrence Seaway Invert," Scott 387a, and the US "Inverted Jenny," Scott C3a, but there are others.
Monday, March 16, 2009
Stamp Condition: Another Attribute Important to the Value of Stamps
Just like a stamp’s grade, the condition of a stamp can vastly affect its value. Although different than the stamp's grade, once again a stamp's condition does not refer to its subject matter, rarity or age: it refers to the physical characteristics of the paper the stamp was printed on.
Stamps in great condition are crisply printed with vibrant colors that appear to be just off the presses. Condition faults detract from the value of a stamp and include any type of alteration, damage or change since the stamp was printed, other than cancellations or other postal marks. Common faults include creases, tears, folds, holes, stains, missing corners or perforations, thins, and dirt or fingerprints on the gum, if the stamp is mint.
When looking at stamp condition, keep in mind that between two otherwise-identical stamps, the stamp in better condition will always be worth more. But also keep in mind that even stamps that are not in perfect condition can be worth a lot of money if they're scarce or if perfect-condition examples are extremely expensive. That's why some stamp dealers, like The Stamp People, offer severely marked-down vintage stamps for sale in addition to their perfect-condition stamps - to let stamp collectors buy stamps that they wouldn't otherwise be able to afford.
Just like a stamp’s grade, the condition of a stamp can vastly affect its value. Although different than the stamp's grade, once again a stamp's condition does not refer to its subject matter, rarity or age: it refers to the physical characteristics of the paper the stamp was printed on.
Stamps in great condition are crisply printed with vibrant colors that appear to be just off the presses. Condition faults detract from the value of a stamp and include any type of alteration, damage or change since the stamp was printed, other than cancellations or other postal marks. Common faults include creases, tears, folds, holes, stains, missing corners or perforations, thins, and dirt or fingerprints on the gum, if the stamp is mint.
When looking at stamp condition, keep in mind that between two otherwise-identical stamps, the stamp in better condition will always be worth more. But also keep in mind that even stamps that are not in perfect condition can be worth a lot of money if they're scarce or if perfect-condition examples are extremely expensive. That's why some stamp dealers, like The Stamp People, offer severely marked-down vintage stamps for sale in addition to their perfect-condition stamps - to let stamp collectors buy stamps that they wouldn't otherwise be able to afford.
Stamp Grades and Their Importance to Stamp Values
If you're serious about stamp collecting and want to have the best stamp collection that you can, be aware that the most important factor in any stamp's value is its grade.
Stamp grading is determined by a variety of factors, but those factors do not include a stamp's subject matter, rarity or age. To the contrary, a stamp's grade is determined by how its design is centered between its perforations or, if it's an imperforate stamp, its margins. Both horizontal centering and vertical centering are taken into account. Grade also refers to the condition of the stamp's gum (if it's a mint stamp) or how the cancellation of a used stamp affects its design.
Grading stamps takes some experience - looking at a lot of stamps in a variety of different grades. After you've looked at just a few stamps you may be able to distinguish between stamps with a high grade and those with a low grade. Given enough time and experience, you'll begin to be able to tell differences in grading in most stamps.
Stamp grades are somewhat standardized, ranging from superb at the high end, to poor at the low. If you are going to become a serious stamp collector and invest some serious money, it's crucial when buying a stamp to know what grade of a stamp you are getting. The better the grade of stamps in your collection, the better and more valuable your collection will be.
If you're serious about stamp collecting and want to have the best stamp collection that you can, be aware that the most important factor in any stamp's value is its grade.
Stamp grading is determined by a variety of factors, but those factors do not include a stamp's subject matter, rarity or age. To the contrary, a stamp's grade is determined by how its design is centered between its perforations or, if it's an imperforate stamp, its margins. Both horizontal centering and vertical centering are taken into account. Grade also refers to the condition of the stamp's gum (if it's a mint stamp) or how the cancellation of a used stamp affects its design.
Grading stamps takes some experience - looking at a lot of stamps in a variety of different grades. After you've looked at just a few stamps you may be able to distinguish between stamps with a high grade and those with a low grade. Given enough time and experience, you'll begin to be able to tell differences in grading in most stamps.
Stamp grades are somewhat standardized, ranging from superb at the high end, to poor at the low. If you are going to become a serious stamp collector and invest some serious money, it's crucial when buying a stamp to know what grade of a stamp you are getting. The better the grade of stamps in your collection, the better and more valuable your collection will be.
Tuesday, January 20, 2009
Selling an Inherited Stamp Collection
As stamp dealers we often get emails that ask about that very question. The emails are often like the one below:
"About a year ago I inherited an old stamp collection from my father. We spent a long time trying to figure out what the stamps were and what they're worth, but we've given up because there are just too many stamps. After looking at your website I decided to contact you. We'd like to sell this old stamp collection, get some money for ourselves and at the same time find a home for the stamps with someone who will enjoy them."
Here are some of our thoughts on this situation:
Trying to value your stamps by using a stamp catalog is a logical first step in selling an inherited stamp collection, but it can often be very time-consuming and frustrating. It can also lead to disappointment - you need to be aware that peopple selling a stamp collection almost never get anywhere near the catalog value of their stamps. Here's why:
The value listed for a specific stamp in a stamp catalog represents what a dealer would charge you if you went to them to purchase that stamp. It is their selling price, not the price they pay when buying. And their selling price doesn't take into account any volume discounts, discounts because of past business dealings, or any other factor that might cause a stamp dealer to sell their stamps for less. For example, most of the 20 cent catalog values that you see in Scott's Standard Postage Stamp Catalog, for example, exist to compensate the dealer for his or her time and effort to secure that one stamp. In reality, many of these minimum value stamps are worth much less. But a dealer has to find them, identify them and stock them, even though they're not worth much. For stamps that have a higher catalog value, a dealer's selling price will be closer to the catalog value, simply because their catalog value is due more to their rarity than for recouping the dealer's time and overhead.
Extremely rare stamps that are in great condition can and do yield a premium value over the catalog value: they sell for more than the value listed in the catalog. But these types of stamps are very rare, and although it's possible, they aren't likely to be in Aunt Fannie's old stamp collection.
A reputable stamp dealer won't take advantage of your lack of knowledge of stamps and offer a ridiculously low price for your stamp collection. Most stamp dealers, especially those that have been in business for a long time, will offer you a fair price. But remember, the name of the game when you're a stamp dealer is to buy low and sell high when you can.
Another factor that works against a non-collector who tries to sell a stamp collection is that they tend to over-estimate the age and condition of the stamps they are trying to sell. Many stamps have to be in absolutely perfect condition to be anywhere close to their catalog value. That would include things like how well-centered the stamp is, if there are any damaged perforations, if the cancellation mark on a used stamp is light, etc. A stamp can quickly lose half of its value, if there is the slightest disturbance of the gum on the back of the stamp. Condition, condition, condition: it's everything in stamp collecting. We can't tell you how many times we've seen stamps where the person selling them has said they're in "good condition," but when we actually see them, they have tears, missing corners, holes, missing perforations, etc.
There are, however, a few thngs you can do to maximize the value of your inherited stamp collection.
1. Consider using the collection as a starting point for your own stamp collection. Stamp collecting is a hobby that can fit just about anyone's budget, and you can usually collect stamps well into your senior years because it is not physically demanding.
2. If you are determined to sell the collection you inherited, you can accept the price that was offered by a dealer. If the collection was inherited, you don't have anything invested in it, so any amount you get will be better than nothing. But try to get quotes from at least two stamp dealers before you sell.
3. If you think the collection has one or more rare stamps, meaning a stamp with a catalog value of more than $250 or so, you could send them off to be expertized. Expertizing is the process by which a philatelic expert will evaluate the stamp by determining if it is genuine and give a definitive opinion on exactly which stamp it is (some stamps have many, many different varieties, in which case it can be very difficult to determine which variety a particular stamp is. Some of those varieties may be valuable, but others may be very inexpensive, even though the stamps may look the same to a non-expert.) Some services will also grade the stamp by evaluating key aspects of the stamp: is it centered on the paper, is the paper in good condition, are the colors bold, etc. But most expertizers will not give an estimate of the stamp's value, they just look at its condition and whether it's a forgery or not. Expertizing services are not free, so you don't want to have it done for every stamp you own. Typically you'd want to expertize only those stamps that may be of significant value.
4. Sell the collection on a stamp auction site. You can sell the collection yourself or you can consign it to someone to sell it for you. If you sell it yourself, you'll make more money because you won't pay a consignment fee, but you'll have to spend some significant amount of time taking pictures of the collection and writing a careful, thorough and accurate description.
5. Consider donating the stamp collection to a charity. Many stamp magazines include ads from recognized charities that request donations of stamps. And local charities such as veterans' hospitals, schools and senior citizen centers might be interested. Be sure to check with a tax consultant regarding the tax implications of donating a stamp collection. Some donations are tax deductible, some are not, and some may trigger additional taxes; it all depends on your individual tax situation.
Oh, and one last thing. We get emails all the time from people who want to sell a "huge" or "very large" stamp collection they just inherited. When we ask how large it is, the person says "there must be at least a couple of hundred stamps in there, but they're too many to count." Well, no offense intended, but that number isn't "huge" or "very large" - in fact it's a very tiny stamp collection and most stamp dealers wouldn't even bother to look at it unless they knew that it contained rare stamps.
As stamp dealers we often get emails that ask about that very question. The emails are often like the one below:
"About a year ago I inherited an old stamp collection from my father. We spent a long time trying to figure out what the stamps were and what they're worth, but we've given up because there are just too many stamps. After looking at your website I decided to contact you. We'd like to sell this old stamp collection, get some money for ourselves and at the same time find a home for the stamps with someone who will enjoy them."
Here are some of our thoughts on this situation:
Trying to value your stamps by using a stamp catalog is a logical first step in selling an inherited stamp collection, but it can often be very time-consuming and frustrating. It can also lead to disappointment - you need to be aware that peopple selling a stamp collection almost never get anywhere near the catalog value of their stamps. Here's why:
The value listed for a specific stamp in a stamp catalog represents what a dealer would charge you if you went to them to purchase that stamp. It is their selling price, not the price they pay when buying. And their selling price doesn't take into account any volume discounts, discounts because of past business dealings, or any other factor that might cause a stamp dealer to sell their stamps for less. For example, most of the 20 cent catalog values that you see in Scott's Standard Postage Stamp Catalog, for example, exist to compensate the dealer for his or her time and effort to secure that one stamp. In reality, many of these minimum value stamps are worth much less. But a dealer has to find them, identify them and stock them, even though they're not worth much. For stamps that have a higher catalog value, a dealer's selling price will be closer to the catalog value, simply because their catalog value is due more to their rarity than for recouping the dealer's time and overhead.
Extremely rare stamps that are in great condition can and do yield a premium value over the catalog value: they sell for more than the value listed in the catalog. But these types of stamps are very rare, and although it's possible, they aren't likely to be in Aunt Fannie's old stamp collection.
A reputable stamp dealer won't take advantage of your lack of knowledge of stamps and offer a ridiculously low price for your stamp collection. Most stamp dealers, especially those that have been in business for a long time, will offer you a fair price. But remember, the name of the game when you're a stamp dealer is to buy low and sell high when you can.
Another factor that works against a non-collector who tries to sell a stamp collection is that they tend to over-estimate the age and condition of the stamps they are trying to sell. Many stamps have to be in absolutely perfect condition to be anywhere close to their catalog value. That would include things like how well-centered the stamp is, if there are any damaged perforations, if the cancellation mark on a used stamp is light, etc. A stamp can quickly lose half of its value, if there is the slightest disturbance of the gum on the back of the stamp. Condition, condition, condition: it's everything in stamp collecting. We can't tell you how many times we've seen stamps where the person selling them has said they're in "good condition," but when we actually see them, they have tears, missing corners, holes, missing perforations, etc.
There are, however, a few thngs you can do to maximize the value of your inherited stamp collection.
1. Consider using the collection as a starting point for your own stamp collection. Stamp collecting is a hobby that can fit just about anyone's budget, and you can usually collect stamps well into your senior years because it is not physically demanding.
2. If you are determined to sell the collection you inherited, you can accept the price that was offered by a dealer. If the collection was inherited, you don't have anything invested in it, so any amount you get will be better than nothing. But try to get quotes from at least two stamp dealers before you sell.
3. If you think the collection has one or more rare stamps, meaning a stamp with a catalog value of more than $250 or so, you could send them off to be expertized. Expertizing is the process by which a philatelic expert will evaluate the stamp by determining if it is genuine and give a definitive opinion on exactly which stamp it is (some stamps have many, many different varieties, in which case it can be very difficult to determine which variety a particular stamp is. Some of those varieties may be valuable, but others may be very inexpensive, even though the stamps may look the same to a non-expert.) Some services will also grade the stamp by evaluating key aspects of the stamp: is it centered on the paper, is the paper in good condition, are the colors bold, etc. But most expertizers will not give an estimate of the stamp's value, they just look at its condition and whether it's a forgery or not. Expertizing services are not free, so you don't want to have it done for every stamp you own. Typically you'd want to expertize only those stamps that may be of significant value.
4. Sell the collection on a stamp auction site. You can sell the collection yourself or you can consign it to someone to sell it for you. If you sell it yourself, you'll make more money because you won't pay a consignment fee, but you'll have to spend some significant amount of time taking pictures of the collection and writing a careful, thorough and accurate description.
5. Consider donating the stamp collection to a charity. Many stamp magazines include ads from recognized charities that request donations of stamps. And local charities such as veterans' hospitals, schools and senior citizen centers might be interested. Be sure to check with a tax consultant regarding the tax implications of donating a stamp collection. Some donations are tax deductible, some are not, and some may trigger additional taxes; it all depends on your individual tax situation.
Oh, and one last thing. We get emails all the time from people who want to sell a "huge" or "very large" stamp collection they just inherited. When we ask how large it is, the person says "there must be at least a couple of hundred stamps in there, but they're too many to count." Well, no offense intended, but that number isn't "huge" or "very large" - in fact it's a very tiny stamp collection and most stamp dealers wouldn't even bother to look at it unless they knew that it contained rare stamps.
Tuesday, July 15, 2008
Vintage Stamps (continued)
We left off at "what is a vintage stamp?" The general consensus is, a vintage stamp is a postage stamp that's more than [x] number of years old, but the meaning of "x" (how many years back we should go) is up for some debate.
Our personal feeling is that a stamp isn't a vintage stamp until it's at least 70 or 80 years old. Many stamp collectors and stamp dealers agree with us, but a few do not.
But is it important? Is there some inherent value in being a vintage stamp?
Many vintage stamps are valuable. But just because a stamp is a vintage stamp does not automatically mean it's also a valuable stamp. We could give you hundreds of different examples of stamps that are more than 100 years old, but because so many were printed and still survive today, they aren't worth more than 5 or 10 cents.
In the end, a stamp has a better chance of being valuable if it's vintage, but that's certainly no guarantee. And it works the other way too - many recent stamps have little value because they're so easy to find, but some recent stamps buck this trend and are fairly pricey. So keep in mind that there is always more than one factor at play in the value of a particular stamp - condition, scarcity, and age.
We left off at "what is a vintage stamp?" The general consensus is, a vintage stamp is a postage stamp that's more than [x] number of years old, but the meaning of "x" (how many years back we should go) is up for some debate.
Our personal feeling is that a stamp isn't a vintage stamp until it's at least 70 or 80 years old. Many stamp collectors and stamp dealers agree with us, but a few do not.
But is it important? Is there some inherent value in being a vintage stamp?
Many vintage stamps are valuable. But just because a stamp is a vintage stamp does not automatically mean it's also a valuable stamp. We could give you hundreds of different examples of stamps that are more than 100 years old, but because so many were printed and still survive today, they aren't worth more than 5 or 10 cents.
In the end, a stamp has a better chance of being valuable if it's vintage, but that's certainly no guarantee. And it works the other way too - many recent stamps have little value because they're so easy to find, but some recent stamps buck this trend and are fairly pricey. So keep in mind that there is always more than one factor at play in the value of a particular stamp - condition, scarcity, and age.
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