Next Step For My Scott No. 554d.

Congrats on the find.

I realize this is a little off topic, but I was surprised to hear that some expertizing companies charge based on a percent of perceived market/catalog value.

As mentioned, this creates a real temptation to over-grade if the value is much higher in a higher grade.
Or, if they describe it properly, base the cert. cost on a grade that their description does not justify.

I only deal with Canadian stamps and the only real credible company doing expertizing is VVG Greene. They charge a flat rate (usually $40)
no matter what the actual catalog/market value.
Indeed, they are a non-profit organization run by recognized experts that meet every couple of weeks.

This seems to me to be the best way to avoid any conflict of interest in the expertizing process.

One of the great ironies of expertizing is, while the cost of expertizing is based upon the value of the stamp/cover, they do not give you a value estimate of part of your cert.

Wow, this is such a cool story! Good for you @IBFS!

I too would sell the 554d, and for the same reason IBFS stated; its just not my area. Funny enough, I too would put the money towards a Zepp set.

This is such a great story. You did what most if not all of us dream about. TheSwedishTiger stamp identifier had this to say about your stamp:

"The chances of finding one of the rare examples without a certificate are about the same as being struck by lightning...twice."

I think it was George himself who said, "Never tell me the odds!"

I read that. Since then I never go outside if there are clouds in the sky.



-IBFS

Neat story, Great Find ! I can't wait to hear what happens at the auction.

How rare is the stamp? How many are supposed to be out there?

Refer to the original scanned post on page 1 and the answer is right there ... total of 29 (none are known unused).

Went to my local stamp store the other day. The owner is providing me with materials for a stamp collecting merit badge project I'm doing in December. He gave me a container with over eight pounds of used US stamps. On the way out the door, he remarks, "If you find a 554d in there, don't tell me about it." Yeah, I'm now at home digging through an endless pile of US stamps looking for that one "diamond". Anybody need a couple of hundred extremely common #554s? Though I'm slowly going blind searching through this mega-kiloware, one curious thing I've discovered is that I no longer need to use a perf gauge to visually tell a perf 10 from a 12. Well, back to the pile. There's just gotta be a 554d in here somewhere - if I just keep looking!

Historically, 554d's only bring a fraction of Cat. value at auction. You can go to Siegel Auction Galleries and do a power search for 554d right here to get an idea of realized values...

http://www.siegelauctions.com/lot_l...sionvars=yes

Just enter 554d into the "Catalog #" field and hit the green search button. My stamp is right at the top. It hasn't sold yet, the auction is on the 20th (November), so the display is void of pricing info at this time, but you can see all the other realized values of other lots sold. I found the addition of this paragraph interesting in my description...

"The Perf 10 on One Side varieties span both the 1917 Washington-Franklin and 1922-23 Issues. It is interesting to note that, apart from the 2c, there is no duplication of denomination between the issues. This would seem to indicate that the improperly repaired wheel was in use for only a short period of time, as there was little overlap in production of the issues. Based on dates of issue of the basic stamps, this probably occurred early in 1923".

Here is the census of the 554d perf 10 (top or bottom)...

http://www.siegelauctions.com/dynam...54d/554d.pdf


-IBFS

My stamp sold yesterday. I'm satisfied, having regained all my expenses and having a chunk of change left over that I didn't have before. The stamp was Lot No. 4003.

I think I will pursue new binders for my collection with what I have left over. It is 200 pages long, and just has to be split up into several books, which really need to be "D" ring binders. I'm thinking about the Light Impressions' 1" D-Ring TrueGuard™ Black Album & Slipcase Sets which are archival safe and large enough to hold the page size of the Minuteman albums. I would rather do this than re-mount hundreds of stamps.

Figuring out how to divide it up into different volumes will be the hardest part.

I watched and listened to the auction online for a couple of days. I was astounded at how some of the absolutely gorgeous blocks of four and plate blocks of different sizes sold for way too much less than what I would consider fair prices. The stamps that did the best overall, seemed to me to be the post office fresh perfectly centered singles, which, in my humble opinion sold for ungodly sums of money. There is more or less a topic on this here...

https://goscf.com/t/35108

Those collectors with the deep pockets sure think differently than the peon class of which I am unavoidably a permanent member of.


-IBFS

Sold for $1150? Congrats!

That can buy a lot of Kiloware to find another one :)

Congrats from me also. I love the success stories!

Way to go ! I'm sorry it didn't sell for 10,000.00 but 1100.00 isn't chump change. I would be tickled to find a 100.00 stamp in my little shoe box. :)

Stamp on !

Thanks Guys.



-IBFS