Encased Stamp

Hello everyone. I am trying to gather information this stamp. it is a 1862 encased stamp, J. Gault. I am trying to determine the numbers thought to exist. I believe this to be the rare ribbed variety. I am also trying to determine it's value, based on condition and rarity. There is some ripping in the front plastic. Is this common? Any help is greatly appreciated. Thank you!

It's not plastic, it's mica, and that hole seriously affects the value in a negative way. It catalogs $600, but in this condition it is worth much less. Such a relatively low catalog value would indicate it is somewhat common as these items go, although no encased postage is really common.
There are also counterfeits, it's possible the stamp was replaced, etc.

It may come as a surprise to some, but not if you think about it, that encased postage is more highly sought by numismatists than philatelists if you can use auction realizations as an indicator of interest. As for the problems with the mica, I agree with what has been said, that cracks obstruct and lower interest (value) but that a hole, which also obstructs at its edges, actually endangers the stamp within, which is now exposed to wear and tear. That's unfortunate because this is otherwise a very nice piece, and a good denomination.

As for being on ribbed paper, I am trying to imagine how you determined that, or for that matter what it means. Certain denominations of the 1861-67 issues were printed on LAID paper, including the 5c in brown. But that is not an easy paper to spot even when the stamp is able to be held to the light.

Or do you mean something else by "the rare ribbed variety?" If it is the paper, what gives you that belief?

Thanks to all so far for the info. I believe the ribbed part is in the casing, as you can see the lines in the metal. The normal ones are flat, I believe.

I think he means the metal casing is ribbed. See the last attachment.

edit: OP beat me to it.

The last photo does show the ribbing. It's a great piece but as mentioned earlier the mica condition will affect it's value. Scott does mention that since it was meant to be handled, signs of wear are to be expected but the mica is stil a negative.

Simthsonian ( Postal museum) estimates less than 3000 encased postage pieces are left in existence. If you search the site here for encased postge you'll find some great infomation

Thanks again. I found some information that says only 30-40 of these ribbed ones are still in existence. There is one in the bay for sale now, asking $1100. I will post mine tonight as an auction, I guess we'll see its true value in a few days. Thanks again for the help. This is a great board, I am always learning here!

stoogeco..If the information your say you got suggested between 30 - 40 are the only ones left in existence and 10% to 13% of all remaining in the world is being sold on ebay..that is not too smart, I would never let it get out of my hands..There are 4 on ebay right now..Just my opinion.

Robert

ebay is *not* the place to sell this stamp...

But if you are determined to sell it there,
wait until the other auctions for them are
complete to allow yourself an estimate of
what people are willing to pay.... *AND*...
do not... repeat DO NOT list it without a
reserve price...


There's only 2 auctions running, and a number
of others at very healthy fixed prices...


http://www.ebay.com/sch/Stamps-/260...ased+postage

Thanks disi. Where do you think the best place to sell it would be? Thanks again!

Live auction at one of the major auction houses...

Not in that condition. No major house would take it.

That's an opinion...

wert and disi, I do not understand why you think that ebay is "*not* the place to sell this stamp..." disi, your further explanation makes some sense, but stoogeco is the only person that can make the decision that best fits their desires.

Obviously a specialized auction house COULD bring the highest realization of value. However, that method of selling has its own caveats, including the possibility of long delays.

".... *AND*...do not... repeat DO NOT list it without a reserve price..." That is a statement fraught with logical fallacies that are time and again proven to not be the only approach that results in the highest selling price. An opposite approach that starts with a non-reserve price of one cent often realizes much higher selling prices due to the increased attention of hopeful buyers.

I appreciate your willingness to help, but you both speak in absolute terms that don't take into account the seller's intentions nor the many possible "ideal" approaches to selling a stamp in any particular manner.

I do not discount that there is some wisdom in your replies. I just want to point out that your statements are not absolutes and that they are not "always" the best practices for a seller.

"That's an opinion..."

That's an opinion of someone who spends a lot of time breaking down and cataloging large lots into smaller lots and individual items that wind up in auctions.....this is simply not so rare that a major house would take it in this condition. That is the way it is.

Thanks for the input. I am a seller of many things, mostly collectibles. I have sold on ebay for many years and agree that ebay is not the place for some items. I sold a piece of art through Sotheby's in December that definitely qualified as a "not for ebay" type of item. But this stamp will sell for in my opinion between $400 and $1000 (on its best day). This is a good price point, in my opinion, for an ebay item. Also, in selling on ebay, I have found that pricing an item low and having the sellers bid the item up is often the best way to maximize the price on a rare item, as I believe this to me. There is a seller selling the IDENTICAL item currently with a buy it now price of $1100. He will not get close to that number, in my opinion. And as for auction houses, I have also found that off-condition items often disappoint when sold through that venue. In any event, I don't think I'll have a problem getting a profit on my original investment. Any other opinions? I appreciate any feedback.