2,3, Or 4

I had saved up enough to get either U.S. Scott 2, 3, or 4. Which of the three, in your opinions, would you purchase first? Seems like the two reprints are scarcer...looking at the auction sites, I see quite a few of the #2, but the reprints are not well represented.

You are absolutely right! In fact, I regard #3-4 as being highly undervalued by Scott. This is likely due to the quantity printed of each, however they are both in high demand, so prices are generally strong, so Scott should raise the prices for that reason. #2s are (as you noted) always available. I would go after a nice #4 first.

Thanks, Bill, that was what I was thinking as well.

Totally agree with Bill...

Go with a 4, then 2, then 1, then 3

Randall

Great, thanks for the input!

Good luck, Josie...

I have also begun searching for the 1875 reprints. Are they as clearly different from the 1847s as the Specialized seems to indicate, or are the re-issues something for which I need to look exclusively at certified copies? StampSmarter indicates that neither gets misidentified, albeit a VERY small sampling is represented. Are there some suggested sites for further research and study so that a better informed decision can be reached?

I guess it depends on what you are trying to achieve with your collection. The 1875 reprints are official reprints made from different plates that were never valid for postage. I don't own #3 or #4 and don't intend to buy them because I don't consider them to be real postage stamps. The Scott Catalog and the album makers include the reprints as stamps. I personally would buy the #2. Financially, Bill W. is probably correct that the #4 would be a better purchase.

Bill made the observation that #3&4 are in high demand, but the reason that is so brings up a factor not yet considered here. Are you looking for used or unused? The cat on #3&4 is akin to the cat on #1&2 USED.

The rest of the story - for those who want more.
Lots of collectors would like to own #1&2 unused to get a clear look at the design, but few unused originals have survived. They catalog in four and five figures respectively. Enter #3&4. The reprints were produced in 1875, long after the original issue of #1&2 had been demonetized. Like the originals the reprints were not valid for postage. So, you will not find a cancellation on #3&4. They look enough like the originals that they can stand in for unused originals for most collectors. Apart from that, they are official imitations and would not fare any better than proofs.

For the past year I have been closely following #3&4 at public auction (not ebay). The stamps sell for more than their proofs, but not by much. [The actions of a certain prominent dealer notwithstanding.] My inference from this is that people are buying these based on how well the stamps present. Defective examples, including sound stamps cut into the margins, sell for peanuts. But solid examples fetch about the same as moderately high grade used originals. Seldom do examples fetch four figures at auction.

While I have the floor, I wish to address a misconception that seems to be more prevalent than it should. The pricing for classic US in the Specialized catalog is not set in an arbitrary manner by Scott. The present editor of the Scott Specialized follows pretty much the same policy as his predecessor, who still happens to be working on the catalog as well. The pricing base begins, but does not end, with performance at auction. Fluctuations in catalog values follow the trends in auction realization. Auction is regarded by many in the industry as the wholesale market. To make the catalog reflective of the retail market, fluctuations and adjustments are based on their survey of retail pricing by active sellers. But those inputs only make percentage adjustments to the auction base numbers. Many sellers chafe that Scott does not follow the retail sector more closely, but the present system is less arbitrary, and in my opinion more justifiable, than it would be if we followed the dealers. Most dealers in high grade classics start with a 100% markup over their buy price as a minimum. Many mark up to 3x 4x and even more if they know of certain clients who will compete for it.

Nothing is perfect, but in general you should take the complaints you hear about Scott pricing with a large grain of salt. Items that frequently appear at auction generally have more accurate pricing in Scott. It is the items that rarely appear at auction that are harder to track. Do I think that Scott is woefully behind on the market for #3&4. Well, you tell me. Most sound examples of #3&4 are going to grade VF or better. (They were always handled with care.) Most of these stamps that sell at auction garner less than catalog. Often much less. That seems about right to me.

I agree with SPQR. I have #1 and #2, but #3 and #4 are low on my priority list for the same reasons that SPQR mentions. All the issues contrived for collectors, including the high-value Columbians, are low on my list.

I also agree with SPQR; it really all depends on your collection scope. I collect classic U.S. postage stamps, so special printings are not in scope for me. Therefore I have no interest in #3 and #4; others may have a different scope and be very interested in them.

Thanks for all the input, guys. After much debate, I decided to go with an expertized #2. At these prices, I really wanted to have an expertized copy, and the one #4 that was available had no certification, so, with peace of mind, I am going with a nice, four-margin used #2! As soon as I pull the plug on it, I will post pictures.

I picked up this beauty this morning! PSE certified as a VF-80. Super excited about it! Thank you all for your valuable input over the last few days.

Great stamp - I love the look of red cancels on these black stamps! Good decision in my opinion to go with a certified example.

That is an excellent appearing stamp with a face free cancel, four full margins, and fresh color. Does a rating of VF-80 imply that it is without faults. Most of that number concerns centering, but I don't really know how PSE handles faults.

Others can share their experience, but in my limited experience for a fault free stamp in this grade you are looking at $400-500 at auction. So if you came in below that you did very well for yourself, and still not bad for the $400-600 range.

Very nice acquisition, Josie... enjoy !

Randall