Why Is This 238 So Cheap?

I am really starting to get paranoid about this stuff.
Any opinions on why this is so cheap? it has a BIN of $32.00

described as mint light hinge

What's going on in the lower right corner there? Perhaps a repair with a piece of hinge? Gum looks really shiny . . . but I don't know squat about 19th century gum.

LRC is the hinge remnant according to description.

I may be wrong, but is this stamp regummed?
I thought the the gum of the period had a yellowish color to it.

I'm no expert, but I would agree the gum looks suspicious (too good). Also the pulled perf at the bottom center will detract from its value. Maybe I'm the one that's paranoid, but the side perfs don't look quite right. I maybe wrong on that, but I'm looking at it for a couple of minutes now and the left side seems to have "deeper" perfs than the right. (I know some of the lower value Columbians were notorious for having straight edges, so it just makes me wonder.)

Daryl,

Current SMQ market value for a graded Fine OGph is $110 and that is without any short perfs.

I agree with the others that the reverse looks a little too clean for the issue. I've got seven OG of that series and they all have a yellowish tint.

Lastly, I find the lower right corner a bit odd for hinge placement and have to wonder why it was placed there.

Take it for what it's worth but remember that I'm the guy that fell for the altered 114!

Steve

EDIT: The SMQ value for a fine used 238 is $38.

Steve,
I agree that the gum looks suspicious.. it is too clean... I don't know of any mint stamp from that era with white gum

I guess I will pass on this as well..

I think for now, I will just stick to VF-Used versions of the stamp series...

Two brown spots on top edge. Definitely regummed. Also looks like it may have been reperfed and repaired, and likely any other re- that you can think of. You are wise to pass.

thanks Kim

You are welcome, Daryl!

If I may, I would like to suggest a book to all who are purchasing classic US stamps with catalog values of $100+: "How to Detect Damaged, Altered, and Repaired Stamps" by Paul W. Schmid.

It is a very inexpensive book that has pretty decent coverage over the basics. The book will more than pay for itself over the course of the years by helping to weed out quite a few altered/repaired stamps. The early US stamps (especially mint), are unfortunately a real minefield. There were (and unfortunately still are) dealers churning out fake/altered stamps. Take the time to learn the info in the book (thin paperback, not a novel). It is well-written and has a decent number of illustrations and tables.

Just a thought.

k

Thanks for the suggestion Kim.

Daryl, good luck on that 239!

I see a crease across the lower right corner just below the Y following the line of the outer edge of the Y. Perhaps the hinge is there to strengthen that corner.

Thanks khj,

Just checked Amazon and was able to order one for $11.47 used.

My problem now is that my stamp library and albums are growing faster than my stamps!!

But you are SO right. Even for small buyers like me, $12 is nothing.

Steve, I got the 239

I didn't make it very clear in my earlier post. The book provides general info, but does focus primarily on US stamps.

Kim,
Of course you made it clear, it was clear to me..

I really didn't think the 238 was right, which is why I posted here... Why buy a book when there are so many detectives and knowledgeable people here?