Selling US Stamps

I just joined this forum.I have collected US Stamps since my youth. I mostly have sheets of 50 in albums from the 70's and 80's. I never look at these stamps and am having financial problems. I have tried to sell them to local dealers but they only want gold and silver coins. As a kid, I was told that my collection would be worth a small fortune one day but the local dealers laugh and tell me to throw the sheets in the garbage. I won't do that but somewhere somebody would love my collection. How do I find such a collector? I have no account on e-bay to post my dilemma. I forgot exactly which sheets I own and I also have blocks; none with postmarks. I also have a collection of British Empire stamps as well; but no sheets. Any suggestions? I live in the New York City area. Thanks.

Dear Myron,
It sounds like you were collecting stamps during a time of great interest and activity in the stamp collecting world. While I wouldn't in any way say to throw the stamps away, these days such stamps from the 1970's and 80's are considered some of the most common stamps around. As a result most dealers are going to treat such stamps as postage. Most are not going to pay more than 50% of face value for them. Selling them on ebay as a discount postage lot might bring up to 70% of face value if you are lucky. I am sorry to be the bearer of bad news, but that is the state of things right now.

Unlike some other areas of collecting stamps can be used for postage and a 50% off face value is going to get some interest but require some work on your part. Quick cash needs to be searched out in other ways.You'll need to go to the library and get a Scott catalog so that you can list what you have. The sheets need to be in individual envelopes/glassines. Perhaps you have a friend who is on ebay and would help you sell them. ebay is safe for you and the buyer and really is the best way to go. How many sheets do you have?
Tom

if the sheets are in perfect - and I mean PERFECT -condition they are worth more sold that way. If there is any gum disturbance, curling or perf separation you would be better off making up sets of all different - by year - and selling them that way - and yes, on-line is your best bet.

If you want the quickest and easiest money possible, your best bet is to total up the face value of a bunch of sheets and put them up on ebay as a 1-day (yes, 1-day) auction, starting at around 60% of face. You'll probably get somewhere around 75-80% of face value, minus any ebay and PayPal fees. Make sure you list exactly how much the total face value is because bidders will base their bids on this. Registration for ebay and PayPal are both quick and easy. You could have money in your account within 48 hours by doing this.

If you can wait a little longer and don't mind a little more effort on your part, listing them individually or breaking them up into year sets or the like will probably get you more money, but it'll take longer to sell them all and of course it's a lot more work on your part listing them and doing multiple mailings, etc. Depending on various factors, it could take months or more to sell them all. You'll get more money, but it won't be a lot more (probably not much over face value, if even that).

If a local dealer in your area isn't interested, ebay is easily your best bet.

Sadly, this is a common theme. A lot of people were sold on the idea of buying postage stamps as a means of investment. Nothing could be further from the truth! Most dealers are paying LESS than 50% of the face value of most stamps from WWII forward. The smaller face values (less than .10/stamp) are even harder to sell because it takes too many of them to use on a letter. The best advice I have heard here is to add up the total face value of everything and list it on ebay. I would start at 50% of face value and let the chips fall where they may

Brian

My brother's father-in-law, a retired mail carrier, passed away 3 or 4 years ago, leaving him & his wife $1800+ in unused postage, most of it from the late '40s thru the early '70s. After perusing the stash, I advised him that, to get the most out of it, he should use it for postage. He took my advice. I do remember a Linn's advertisement at the time offering 69% of face for mint US postage, but I suspect the price may have slid a bit since then.

Sounds like Myron got the advice he needed.
Tom

I have a stamp and coin shop not to far from me. They pay 40% of face value for sheets/panes of stamps and sell for 60% of face value. I too have watched ebay and 60% is about the going rate at auction. So I think 80% of face value is way to high to expect. Also remember the seller has ebay's commission to pay and postage to mail the stamps to buyer.

Something very wrong with our hobby if we can only get 40-60% face for our modern mint US stamps? Seems our Country's stamps have fallen to United Nations status. Makes one to start to think twice about buying modern stamps from dealers at 160-200% face plus s&h. A 46 cent stamp sells for 70 to 92 cent - knowing you may only get 21 cent at some time in the future ??? Sure stamp collecting is fun but I always assumed one could always get at least face value. Modern catalog value must just be set up for dealers benefit-surely not for collectors. Very sad commentary.

The issue has nothing to do with nation or status. Stamps are a commodity and commodities - unless they are rigorously controlled - are subject to the laws of supply and demand. Simply stated too many people bought and hoarded too many stamps and now they are all unloading them. Basically in Canada or the USA a sheet of first class postage from 50 years ago is almost worthless unless you can find a keen sheet collector.

"Something very wrong with our hobby if we can only get 40-60% face for our modern mint US stamps? Seems our Country's stamps have fallen to United Nations status."

Dealer buy prices for most UN stamps is more like 20% of face.

Makes one to start to think twice about buying modern stamps from dealers at 160-200% face plus s&h. A 46 cent stamp sells for 70 to 92 cent - knowing you may only get 21 cent at some time in the future ???

If they are buying the stamps at face from the PO, they have to sell them for more than face. The future price will depend on supply (suplly of US stamps from the 40's or 50's to 80's or 90's is HUGE)and demand, and part of the demand for modern mint US is the discount postage market (selling stamps to mailers at a discount below face) andthat maket is is decline due to the internet.

Sure stamp collecting is fun but I always assumed one could always get at least face value.

You couldn't even get face before the discount postage market went into decline.

Modern catalog value must just be set up for dealers benefit-surely not for collectors

The catalog values reflect dealer selling prices, not dealer buy prices. Always been that way.

All about supply and demand. I think some people thought stamps were an investment either talking themselves into it or advice from investment company.
Tom

I sold a few postage lots about 6 months or so back. I parceled them into $50 lots and generally got right around $40 for them, probably kept about $35 after fees.

So the reality separates the collectors from the investors. It sounds like the investors have made a poor investment and collectors just keep on trudging along collecting. The difference between a business and a Hobbyist. I collect stamps as a Hobby not a business. It's true it would be nice to know you would at least get back what you have put into your collection and maybe someday our Grand-kids will profit from what we have collected after the flooded market has settled down. But the reality of it is. Do not to expect to make a profit for many more years.

While I believe the true collector is somewhat concerned about getting the best price he isn't into buying and reselling to make money. I think we have some people on this forum who are trying to sell on ebay as a part or full time job with the profit sometimes going towards enlarging the collection. I honestly don't worry at all about stamp prices. I generally use the Scott catalog to get a very rough idea of the price and what I should pay. But I'm a true collector. I frankly don't care what happens to my stuff when I die. I plan on being cremated with no announcements or funeral. I just want to disappear. It's selfish but I've been giving all my life.
Tom