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Posted 10/09/2018   5:39 pm  Show Profile Check wheelman's eBay Listings Bookmark this topic Add wheelman to your friends list Get a Link to this Message
I am assisting my son-in-law with selling an inherited collection of stamps. We have worked our way through the many cartons of albums, plate blocks, stock books and misc US along with WW. There are thousands of US first day covers, and a few WW, quite a few topical FDC and misc. I see many FDCs on eBay at just over $1.00. I have no idea of real world value of these. If there is anyone who resides in NW Georgia, Atlanta to Chattanooga area,(too much to ship economically) that may be interested in purchasing a large lot of FDCs, I will drive to meet you. I expect these will be a great deal for someone who appreciates them. Please let me know if there is interest and I will post pictures not of the individual FDCs but of the many albums etc. Also please advise what additional info you may need.
Trying to determine if this would be better donated to APS.
Thanks for looking.

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United States
4052 Posts
Posted 10/09/2018   9:48 pm  Show Profile Check revenuecollector's eBay Listings Bookmark this reply Add revenuecollector to your friends list  Get a Link to this Reply
As a general rule, unless the cachet makers are scarce, most FDCs from the 1940s to present are of nominal value. Both the APS and AFDCS (American First Day Cover Society) will accept these as donations. If you itemize, you can take a tax deduction for the contributions and the shipping costs.
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United States
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Posted 10/10/2018   1:12 pm  Show Profile Bookmark this reply Add ikeyPikey to your friends list  Get a Link to this Reply
Large lots of modern American FDCs often sell for as little as ten cents each.

Over the years, I've built a places-to-donate-stamps list that is available as a PDF; just PM me for the current version.

Cheers,

/s/ ikeyPikey
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United States
256 Posts
Posted 10/11/2018   12:33 pm  Show Profile Check wheelman's eBay Listings Bookmark this reply Add wheelman to your friends list  Get a Link to this Reply
ikeyPikey: PM sent. I checked with my son-in-law and they do itemize, so if that is the route taken on this, what value per cover is allowed on the donation?
At a very quick glance, this collection appears to be complete starting in the late 1930s until early 2000s. All that I have looked at, very limited knowledge here, are common cachets and most are addressed. Having added that additional info are there any specific issues that I should look for that may have value out of the ordinary?
Thank you all for your assistance on this project.
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United States
184 Posts
Posted 10/31/2018   5:22 pm  Show Profile Check ggreve's eBay Listings Bookmark this reply Add ggreve to your friends list  Get a Link to this Reply
Did you already donate these?
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United States
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Posted 10/31/2018   8:48 pm  Show Profile Check Battlestamps's eBay Listings Bookmark this reply Add Battlestamps to your friends list  Get a Link to this Reply
If you have the 1939 New York World's Fair stamp as a FDC with the ArtCraft cachet, that's a better cover as it's the first ArtCraft cachet.
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Posted 11/01/2018   12:25 am  Show Profile Bookmark this reply Add ikeyPikey to your friends list  Get a Link to this Reply

Quote:
... what value per cover is allowed on the donation? ...


US practice is that you value your donation, and you are on the hook for penalties & interest if the authorities ever disallow the deduction, in whole or in part.

The recipient will usually give you a letter, on their letterhead, acknowledging the donation, and that's about it ... You might get them to specify the scale of the donation (N pounds of stamps, etc), but don't expect them to stick their neck out, or for their opinion to count for a lot if your deduction is challenged.

You can search this site for earlier, authoritative posts on this subject.

Cheers,

/s/ ikeyPikey
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Canada
240 Posts
Posted 11/01/2018   10:03 pm  Show Profile Bookmark this reply Add No1philatelist to your friends list  Get a Link to this Reply
As for donating the collection, it is too bad that the person who originally purchased the covers did not retain receipts with the purchase price. That way you would have a solid base price to work from. No doubt some of the covers face values are high with $5, $8 and $10. Airmals.

As well the inherited collection might have had an estate valuation done on it, which would also give you a base price to work with.

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Edited by No1philatelist - 11/01/2018 10:16 pm
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Posted 11/02/2018   10:20 am  Show Profile Check wheelman's eBay Listings Bookmark this reply Add wheelman to your friends list  Get a Link to this Reply
ggreve - In answer to your question. No. They are at the bottom of the to do list on this huge collection that I am working through. Son-in-law is not in any rush so it will likely be after the first of the year before anything is done on the FDCs.
No1philatelist - I actually did come across a number of receipts. None for first day covers though. I think he saved everything. There was one box of nothing but Mystic ads and promotions and receipts. This guy was a HUGE fan of Mystic stamps. It looks like he budgeted between $250 and $300 a month with just them. Also ran across a large stack of Mystic Profit sharing certs. Waiting now for an answer back from Mystic as to whether I can use those myself. The general collection is slowly, over many months and months to come working its way down. His US was collected only MNH and I have added a lot of that to my personal collection.
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United States
184 Posts
Posted 11/02/2018   7:56 pm  Show Profile Check ggreve's eBay Listings Bookmark this reply Add ggreve to your friends list  Get a Link to this Reply
PM sent. My grandpa was in love with Mystic too. He probably sent $100's a month as well. On the profit shares, when I called them they said they are not transferable.
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Canada
240 Posts
Posted 11/02/2018   10:04 pm  Show Profile Bookmark this reply Add No1philatelist to your friends list  Get a Link to this Reply
Mystic Stamps, I have personally never used them.

I searched "Mystic profit share plan" on google to find out more and got an eyefull. 401k and more.

As for the profit share certificates or merchandise coupons, whatever they call them, I did not read anywhere or see anything about them that said they could not be used by anyone. They obviously have gone digital though, and you would have to have access to the past owners account to use them now.

Mike
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