1862 Encased Stamp

I have an 1862 encased stamp that I want to sell. My problem trying to find a "fair market" value for this civil war currency. There is a dealer in Charleston SC who specializes in encased stamps. He offered me $600 for the stamp which to me means its worth a lot more.

"Fair Market Value" Their is none! Most are far to rare!
The "Common" ones have only 2-3 dozen known to exist. This one is probably less than a dozen.
Assessment wise this has Intense Color, not washed out as usual. The case looks excellent, but with minimal to no silver wash left. No wrinkling of the stamp. Or mica crazing or mica faults. A SUPERB Example. I wouldn't even consider less than $1000.00
The last one of this type with "Long Arrows" That I am aware of at auction was in 2009. I think it went for around $1500.00

Me, I wouldn't sell it...it's much too beautiful and rare, it can only increase in value. Maybe you could use it as collateral if you need the cash?

Hey I just got this and it sort of goes with that encased postage stamp currency. Ayers proprietary stamp US Revenue.

That is a very nice piece and well worth keeping. If you did decide to sell it I would recommend one of the more recognized auction houses as these items are very sought after and don't come along very often. Yours as stated by Rev. has everything going for it and there are believed to be less than 3500 Encased postage stamps in existence according to the Smithsonian Postal Museum. I'm not in front of my Scott's specialized catalog but perhaps someone can tell you what the catalog value of your piece is. As far as encased Postage goes, I would expect no less than full catalog value.

1geo,

Scott identifies it as EP3, valued $425.00 on page 890 2011 Scott Specialized. Then there is condition. Yours, as indicated by others, is very fine so it would be significantly in excess of that number.

Art

BTW, You certainly know how to start off your post with a bang! Your 1st post is a beauty.

Scott is way off base on most of these. Most of these go for 2-4 times cat. It is the old law of supply and demand. Many of these come up for auction so rarely that a correct valuation is near impossible. They have gotten far better over the last 10 years or so. Most of the Scott values on these are based on the 2008 Siegel sale of "The Summit Collection" which contained 128 lot's of Encased postage. The EP3 in the Summit Collection was not as nice as this one. Once you go beyond F-VF in terms of grade Catalog Value becomes useless. All of Encased Postage in XF or EX are VERY RARE and HIGHLY sought after! Most of the EP3's in the last few years barely make the VF grade if at all.

I appreciate all those who took the time and effort to give me great information. I decided to list it on ebay for $1695 or best offer and see what happens. The picture does not do it justice. There is 60%of the silver on the stamp side and 80+% on the back side from the picture it looks worn but the only part worn is the high points of the lettering. From what I've seen of the grading at auctions, specificly the 2008 Seigel sale, mine would be graded at XF-AU. Thanks again, 1geo

My catalog (2009) lists it at $425.00 catalog value. I'd imagine it might bring that or a bit more, if you get a bite on it @ $1600.00 please post here and let us now as for 4 times catalog value, I'll throw mine up for sale.

I saw a couple of these at our local annual coin show on father's day.
They caught my attention, but I didn't ask a price. They are one of
those things that if you gotta ask, you can't afford it.

stallzer, we had this discussion already. You are not allowed to sell yours.

btw.. is that by any chance "pink"?

I probably will never sell it, but for over 2 times catalog value.....I'd be tempted.