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Show Your US 1847 Issue Stamps & Covers

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Valued Member
United States
465 Posts
Posted 10/22/2020   5:43 pm  Show Profile Bookmark this reply Add mootermutt987 to your friends list  Get a Link to this Reply
I don't think the market will be flooded - I think the Gross sale has high enough quality (and we collectors know that...) that it will simply be a feeding frenzy. There will still be the demand for the 'basic' 1847's - those that fill spaces. The Gross sale is for 'specialists', and I don't think you can ever flood that market. After the Gross sale, I suspect we will see a 'settling' of the better 1847's - not a lowering of the market, but people getting together and making deals on the stuff that recently came on the market. As with any sale, there will be dealers there to grab up what they can. Buyer's remorse (or more accurately, non-buyer's remorse) may kick in for some collectors that WISH they had gotten that special 'something' but passed when it came on the block - they may get satisfaction by contacting one of the dealer-buyers.

After prattling on like that... at least I HOPE the market doesn't get flooded!!

I also HOPE that this sale generates interest. The material in the Gross sale is truly spectacular. Any person who was 'on the cusp' of pursuing study on the 1847's may well find himself at the tipping-point with that decision and jump in.

I DO wonder if, by removing one multi-millionaire (billionaire???) from the stamp market, will THAT have an effect on values? I suspect it will, generally, but hope it does not, specifically, affect the 1847 market. Remember, Bill Gross collected USA, generally. The 1847 stuff is just one aspect (albeit valuable enough to have its own sale) of the larger collection.

I have HOPES, as stated, but I am not an economist with an intimate knowledge of all factors affecting the stamp market.
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2252 Posts
Posted 10/22/2020   6:12 pm  Show Profile Bookmark this reply Add txstamp to your friends list  Get a Link to this Reply
I agree, I don't see this flooding the market for 1847's at all.
It is an opportunity for many to obtain great first issue material.
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Posted 10/22/2020   7:46 pm  Show Profile Bookmark this reply Add SPQR to your friends list  Get a Link to this Reply
I think the estimates in the Gross sale are quite a bit lower than in prior sales and this is a recognition that a lot of the big '47 collectors have left the market. At the APS Stampshow in Columbus a few years ago there were 3 big '47 exhibits (Gross, Eubanks, and Mirsky) and Gross had already bought-out two other major '47 collections (Saadi and Hackmey). So of 5 major '47 collectors, I think only Eubanks still collects the '47s. The material will find buyers, but I think at price levels below what Gross paid.
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153 Posts
Posted 10/27/2020   9:35 pm  Show Profile Bookmark this reply Add widglo46 to your friends list  Get a Link to this Reply
There were very few unsold lots on the first day of the Gross sale. Several lots were bid up several multiples of the pre-sale estimates and I didn't see many stamps go at bargain prices. I did manage to pick up two stamps, including a nice 1-A double transfer from the First Printing, but I got left in the dust with most of my bids. Market demand seems to have absorbed the sale with no problem.
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Posted 10/29/2020   11:02 pm  Show Profile Bookmark this reply Add Neeskens13 to your friends list  Get a Link to this Reply
I would like to thank the OP for starting this thread. It inspired me to take the plunge and acquire my first 1847 covers today from the Gross sale at Siegel. I will post them upon receipt.

I followed the whole sale online through SAN. Only a handful of lots were passed. Bidding was aggressive and a lot of the items sold for above the top end of the estimated range. They announced a total hammer price north of $2.1 million at the end of the auction.
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Posted 10/29/2020   11:51 pm  Show Profile Bookmark this reply Add txstamp to your friends list  Get a Link to this Reply

Quote:
I would like to thank the OP for starting this thread. It inspired me to take the plunge and acquire my first 1847 covers today


Hi! I'm very happy to hear that.
One reason I post here is to try to promote the hobby by generating discussion in areas that I'm familiar with.

I trust that you've done some homework, and studied a bit about the area before jumping in. Regardless, this sale is a good entry point for a lot of people, due to the high volume of good items, many of which have been vetted repeatedly over the years by prior prominent owners.

I look forward to seeing what you got.
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Posted 10/30/2020   07:34 am  Show Profile Bookmark this reply Add SPQR to your friends list  Get a Link to this Reply
The Rush cover (lot 1228) brought $510,000 hammer - less than half of the $1,200,000 hammer that Gross paid in 2006.
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Posted 10/30/2020   11:41 am  Show Profile Bookmark this reply Add txstamp to your friends list  Get a Link to this Reply
I purchased an ex-Ishikawa cover for about 1/3'rd of what it realized in his sale in 1993, I believe it was. The cover I got doesn't have gem stamps, and isn't in extremely fine condition. Covers such as these have definitely suffered significantly in price over the years.

The Waukegan cover went for $222,500 in 1993 in the Ishikawa sale, including tip. Here it hammered for 155K, plus tip comes to about $182,900, plus tax, possibly. So that one didn't suffer as badly, but is down some. It is a 'quality' cover, however, maybe more so than the Rush cover...

Quality sells these days, as it always has.
Important material, that isn't gem quality, however, can sometimes be obtained reasonably.

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Posted 11/03/2020   2:11 pm  Show Profile Bookmark this reply Add txstamp to your friends list  Get a Link to this Reply


Siegel's shipment is quick as always. Here is the first of two covers I picked up last week in the Gross sale.

A four-margin pair of #1, carried into New Orleans by the Steamer "Hecla". Sent from there to Stratford, CT.

1847 issue stamps on cover with a name-of-boat packet marking are rare. I count 8 covers from this correspondence, with the Hecla packet marking. Additionally, Boker had one with the steamer "Fashion", and I've seen an "Uncle Sam" one as well, making 10 I've seen. I'm sure there are a few more, but these aren't common.

I'm a big fan of packet markings, so I was happy to get this one.

This is ex Emerson, Gibson, West, Haas, Garrett, Boker and Gross
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Posted 12/03/2020   5:30 pm  Show Profile Bookmark this reply Add txstamp to your friends list  Get a Link to this Reply
Attempting to revive this thread - I'll share this acquisition from the Gross sale -



Two #2 10c, and one #1 5c red-brown, with Auxiliary "Due 5c" pen marking.

The 25c in postage was intended to pay the five-times 5c under-300 miles for 2.5 ounces, but the half-ounce rate increments were eliminated in March 1849, so this was re-rated as a six-times rate letter with 5c due.

This is one of only 13 full covers with the franking of a single 5c stamp and two 10c stamps known. There is also one on-piece franking of this nature clearly paying the 24c treaty rate to Britain.

Of the covers with this franking, only 3 are domestic usages, including this one. One reason for this, which is illustrated by this cover, is that the odd-rate increments: 3x, 5x ... were eliminated with the US-British treaty, so as to establish uniform weight measurements.

Ex Krug, Ishikawa, Gross
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Posted Today  8 Hrs 16 Min ago  Show Profile Bookmark this reply Add Teaus to your friends list  Get a Link to this Reply



First photo post. Hope I did not screw this up.

Acquired in the Gross sale. What I appreciated about the item is the Louisville CDS. There is also a short transfer at the top - an added bonus.

Stay safe our there.
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Posted Today  7 Hrs 25 Min ago  Show Profile Bookmark this reply Add txstamp to your friends list  Get a Link to this Reply
Hi, your post came out fine.

That's a nice item. The short transfer at top definitely jumps out.
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