Olympia, Wa, 1c Postage Due $100?

Does anyone know whether there is any justification for charging $99.99 for a 1916 postage due, Olympia WA, perf 10, unwatermarked?

J59-461

http://www.ebay.com/itm/15083404061....m1438.l2649

Scott lists J59 as "1c Rose, Perf 10, unwatermarked, value $550 used, $4,000 unused".

The Olympia, Wa precancel does not appear to impact the value one way or another.

If authentic and sound, this is a good deal at less than 20% catalogue value.

Brian

If it's a true J59, perf. 10 and unwatermarked (as advertised) the 2011 SCV for a non-precanceled stamp is $4500 (mint) and $725 (used).

Unfortunately, I don't have a precancel catalog that would cover the stamp in precanceled form, but since stamps of this caliber are typically reduced in value when precanceled, my guess is the price is not out of line. Someone with a precancel catalog would be better able to assess its current value.

EDIT: Checkout this link. Is this not a similar stamp (at a much higher BIN price of $600)?

http://www.ebay.com/itm/ws/eBayISAP...t_1676wt_982

But, this is one of those unwatermarked types that can often be wrong (by the seller) so a wise buyer would ensure that full refunds are allowed if the stamp is sent away to be certified and it come back as something other than a true J59.

As always, buyer beware.

Kurt

Could the original link posted by JanS may be reduced in price v. catalog value because of the recognized pulled perf on the left side of the stamp?

Certainly possible but I'd still be cautious with listings like this unless I really had some knowledge about the seller and their reliability of dealing with early U.S. issues (and watermarks). It's just too easy to assume it's a non-watermarked variety when it "appears" that way on first glance when truly searching for one often reveals that it's there (and now a much less valuable stamp). Same goes for a lot of Washington/Franklins.

It's not that the seller is necessarily trying to cheat someone - just one of those "a little bit of knowledge can be a bad thing" kind of scenarios.

Kurt

Want one for a lower price???

Seriously though... veteran precancel collectors know that one of the cities that used J59's was Olympia WASH [with the PSS-461 style]. There is a good possibility the stamp offered is a J59 for that reason - and these stamps are all of the proper rose colour. Not a definite identification however so I would get a certificate if paying that much. I doubt a precancel collector would pay 99$ even at 725 SCV and most 'normal' collectors downgrade precancels.

BTW -the ebay seller 'precan' is well respected in the community. The stamp may sell for 99$ it looks better than most.

The other city known for using J59's is Newton KANS.

Hmm, I think I'll just take the Tacoma, chasa.

the ebay item did sell for 99.99 - sign of a healthy market in precancels

I was rooting through my WA precancels, and just came across an inverted 1c J59 etc from Olympia as we were discussing here, a few years back.

I don't collect inverts (unless that stamp is not available the right way up), so I'd like to get rid of it.

Anyone got an opinion on what I should ask (it's pretty good condition/centering/etc, but it does have one pulled perf on the right), since cv is well over $500 for a better condition / not precancel version?

I am looking for a ball park -- would it be worth $5 or should I ask $99 like the other seller did before? -- I just want to get it out of here; I don't want it sitting there unsold for months!

If you put it up for 5.00 let me know lol but really I would try an auction starting at the 100.00 and see, there is more people buying those odd expensive postage dues than you would think. you can always try lower if it doesnt sell but you cant get it back if it sells for nothing.