Minneapolis Precancel

I believe this is an L-2E according to my catalog.

Yep, the L-2E is in my catalog as well. The old catalog prices it @ $1.50

That's a nice looking precancel. So if I understand this correctly, if the stamp didn't have the precancel its SCV would be $9; with the precancel only $1.50? That's less than 17% of catalog value because of the precancel.

Regardless of value, I like the precancel better than a plain old postmark, as it adds something to the history of the stamp!

I guess that's what separates precancel collectors from the rest of the US stamp collecting public.

[edit] Another example of an L-2E for sale on ebay of the 1c denomination from that series of stamps:

http://www.ebay.com/itm/U-S-Precanc...t_500wt_1059

The catalog was written in 1998. I don't explain them, I just tell you all what it says.

A precancel collector's search is really for the varieties of precancels used in a given city or town rather than for the stamp itself.

Although most precancel collectors will want the best precanceled stamps available, they are most concerned with the precancel strike than the stamp itself. That's why a collector may willingly buy a damaged stamp because of an unusual or scarce precancel type in the hope to replace it later on should a better example become available.

As you already suggested, the precancel collector is not usually in it for the value of the stamp, but for the varieties of precancels known to exist for a specific location.

A number of comments. First the underlying stamp appears to be SC280b the 1898 color changed version of the 4 cent triangle. My 2006 Scott lists this at 3$. I suspect it has not gone to 9$ since then. The precancel catalog value is based on a common denomination of the stamp. There is a new (2011) PSS catalog that lists values for all Pre-1908 precancels. I have attached the Minneapolis L-2 section below. Like all catalogs, the values shown are just a starting point for price negotiation. The $1.50 precancel value appies to the 1 cent (green) 1898 stamp. If your stamp were the 1894 (dark brown) variety of the 4-cent triangle, the value would be (theoretically) 150$.

Reading the new catalog - your stamp is valued at $15.00. I highly recommend the catalog - it is VERY complete and gives a fair estimation of what you can expect to pay for every denomination.

Thanks for clearing that up. I did misread the catalog and I was quoting a non-precanceled stamp for SC 254 (used value $9) instead of the 280b (used value $3).

After having read the detail posted on the L-2 E Minneapolis precancel, the number now make much more sense. I was almost certain that a precancel of that stamp would net a higher value than a non-precancel variety, particularly since it's a relatively unusual precancel type (almost bordering on a "fancy" precancel) that I would think would be in much more demand by collectors than the more common run-of-the-mill precancel types.

What I think is particularly fascinating about this one is the way the town name is so long in that particular font that it runs over itself end to end.

Chasa's note reminds me -- yesterday I found an 1898 4c brown Lincoln L-1 TS Var 1 from New Haven in a baggie here. Thanks to the catalog Chasa mentions above, I find the value is $5 which is pushing it pretty hard for my modest precancel collection. Woohoo!

And congrats Scanstamps on such a super find. Hooked yet?