Found Treasure In A New House And Need To Know Where To Go

I recently purchased a new house and found a stamp collection hidden in the basement. What would be the best course to have the value determined by an expert? Most of them seem to be from the 60's in full sheets. I live in Minneapolis.

You could post more pictures or give us some idea of condition. I can't imagine there aren't some condition issues. Unfortunately, they were probably worth more the day they were bought at the post office, regardless of condition.

Take them to a local dealer / shop and get him to value the lot. Its worth doing in case there is any valuable stamps there.

All mint in Wax envelopes. It looks like she used one stamp and saved the rest. Way too many to post

You could also contact the seller and determine if she perhaps unknowingly left the collection there and if so, would she want it back?

If she declines, then you could comfortably keep it.

Listen to your conscience.

There is a stamp dealership in Golden Valley ... which I think is just a few miles west of Minneapolis. Perhaps they could advise you.

What happened to the previous owner of the home? There seems little value, but I would try to give it back. If they have passed maybe their children would like it.

There is a stamp show at the Maplewood Community Center on October 14-15. There will be 10-15 stamp dealers in attendance, at least some of whom might be able to give you a quick estimate.

If everything is like what you've posted, this amounts to a discount postage lot - most US stamps of the last 75 years haven't appreciated in value. They can still be used on mail but sell in bulk at a discount from face value because of the time and effort required to use them now. Dealers might be a group at 50% of face value and sell it at 60 or 70%, or break it up and sell it at a slightly higher price in small bits.

Interesting stuff, just not necessarily valuable (though face value can add up in quantity...)

barleypops--
We see this all the time, unfortunately. A collector buys a sheet or a plate block of everything from the post office for 50 years, and spends a lot of money, and then his/her widow/widower finds out that the stamps aren't worth anywhere near what their loved one paid for the stamps. Remember that these things are printed in the millions and in some cases hundreds of millions of numbers--

It's kind of like my dad and his proof sets and mint sets with his coin collection. I've told him that most of them aren't worth in any way what he thinks they are. Bottom line is that for most collectors, it's best to collect for the enjoyment and love of the hobby, and not to do it for an investment for later.

Good luck-- sorry you're not getting very good news here.
Ray

Still very exciting nonetheless ;)
If it was in the UK, I would sell them for postage as they seem to be worth more that way most of the time.

Just a quick observation from the second photo: It appears these were purchased as a group of 5 with a plate Block number thus being able to have a PB. It would seem that PB of 4 were consciously purchased (or just a block of 4?? )

Do the right thing, contact the seller if you can. I'm very sorry to see most are telling you to sell the stamps. Just a sign of the times.

As on the other thread about returning old mail, the "right thing" isn't obvious. If I sell my, or a relative's, house, it's up to me to sort out what I want to keep and clear the rest. For a new owner to decide that stuff dumped in a cellar or a loft must be returned to someone seems presumptuous. If course, lots of us would try to get away with leaving some of our junk, rather than clearing it!

Apparently the OP has already tuned out.

No offense intended here, but some of you are thinking like renters. The OP had purchased the house. HUGE difference.

Real estate transfers in most states and municipalities require various inspections and legal searches prior to the final closing. Sellers can negotiate for more time to vacate the property, but once the sale of a house "closes" all contents not specifically excluded by agreement prior to closing become the legal property of the new owner.

Since we don't know the circumstances of this sale, but assuming it was done legally, I don't see any justification for dumping on the OP if he treats the collection as his own property. We weren't there and he did not come to us admitting a moral dilemma. He wants to know if it is worth the time and trouble to sell it, trash it, or - maybe - become a collector himself.

The material I am seeing is too good to just throw away. Best advice I've seen: Take it to a nearby dealer and see what he will give for it. If it's a pittance, then either start a collection with it or donate it to a charity or local stamp club (if there is one nearby). If you have reason to believe that the seller might still want it, you certainly could offer to sell or give it back to them. Entirely your call.

Barleypops, I also live in Minneapolis. If you check back in here let me know as I'd be happy to look at what you've found and point you in the right direection.