How To Sell A Collection

Good morning. I apologize if this is a common theme but I'm new to this game. We recently were given a fairly large (6 boxes) stamp collection with a few coins by a friend. Her late husband was a collector and she just wanted to rid her atic of junk.

So we have boxes of the stuff and have no idea what it's worth and how to go about selling them. My concern is going to a store and getting totally ripped off by a guy who knows his stuff and we obvously do not. But there are way too many to go to the library and research.

So what are my options? Go to a few dealers, letting them know I'll be checking other shops so they will not try to low ball me? We live in Maryland if that means anything.


Thanks in advance.

Welcome Dave!

I've never tried to sell a collection so I won't offer any advice other than that you might want to consider the advice given by the American Philatelic Society ( http://stamps.org/Estate-Advice ).

Steve

Wow that was fast, thanks Steve. Actually after starting this thread I did contact them. But wouldn't you know it they are moving tomorrow so I told them not to hurry on a reply. But these boxes are taking up space and we'd like to get moving.

I hope someone else can see this and may have some knowledge as to the best way for us to go here.

Thanks again.

OK I went back to their site and found a link on what to do. But this part concerned me:

Stamp Dealers - Most mid-priced material, say from $1 to $100, is sold to stamp dealers to resell to their customers. Your collection could be sold as one unit, or if you have the time, you may wish to sell parts to different dealers. For example, a dealer specializing in Latin America would likely pay more for your Mexican stamps than general U.S. dealers, a Postal History Specialist may pay more for covers, etc. Of course if you choose to break the collection up this will require more time and effort on your part.

So dealers only deal in small collections of $100 or so? I didn't plan on getting rich here but I was hoping it was worth more than $1-$100.

I believe the quoted section is referring to the material in the collection that is valued in the $1-$100 range and not the collection as a whole.

There have been numerous threads on the forum that addressed strategies for selling inherited collections -- you might want to try the forum search function to keep you occupied until members with relevant experience respond to your post.

Here is a recent thread: https://goscf.com/t/29655#29655

You can still get a fair price from a dealer without you spending hundreds of hours studying and valueing the whole collection from books and catalogs.You should plan on haveing three different dealers give you a price for it.
Use the "CHICAGO METHOD "
This is real simple and works everytime .
Make a appointment to sell/value the stamps with a dealer.You need to go to the appointment with a older gentleman who is nicely dressed.Now he doesn't have to be knownlegable about stamps ,but he has to be with you .For this to work he says absolutey nothing and stands a few feet away and looks distracted or viewing items in the store .He can talk with you about going later out to dinner or the change in weather but the less the better.This works best with the less he says because he stays away from the conversation your having with the dealer.
The stamp dealer doesn't know who he is and what he knows,there is questions in the dealers mind ,is this guy a dealer or a expert or even if he is a fellow APS member ,the stamp dealer has to treat you fair because he is unsure of the guy.
Here is my story with the "CHICAGO METHOD" ,I buy alot of used contruction equipment for a business,that means going into some areas of the city thats a little rough with cash in hand .I show up in two heavy bulky jackets or a oversize sweather.It looks like two things im carrying heat or even a bullet proofvest. My employee comes in a seperate truck or van and stays 20 feet or 30 feet away behind me .But always in sight of my back .Then I approach the seller and make the cash transaction.
This haveing someone a few feet away makes for a honest transaction ,because the person standing a few feet away keeps the buyer and seller honest .......try it ,it helps even when selling stamps .

LOL at The Chicago Method. Problem is I don't know any old men, unless I qualify at 53. Know where I can rent one?

Thanks also for the link to the other thread, I'll look at it further when I have time. But in general terms, if this is even a fair question, what should we be looking for? Age? So far I can see he has a ton of "first pressings" or whatever they are called (I dabbbled as a kid and know there is a term for it) which is basically a block of stamps, unused, and sealed in a USPS plastic wrap. Any value?

What about coins? A few silver dollars, a few from the 1800's. Is a silver dollar worth say 10 dollars?

DAVE----we try to make this board a fun read....lol

How old are you floortrader? Wanna make a quick $100?

Wait, let me re-phrase that. Want to....


ah forget it.

63,---------silver dollars should get you better than $30.00 for bulk or junk value.....what did you have in mind ---visit a stamp dealer and "MAKE HIM A OFFER HE CAN'T REFUSE"

I don't know where you are located, but if there is a Stamp Show in your area it would be a good place to bring the collection. A dozen or more dealers all in one place !

Craigslist is another way to dispose of a collection. Or take a few pictures and put it up on ebay.

You noted that there are stamps sealed in USPS plastic wrap. You should; carefully and with clean hands; remove all these stamps from the wraps. The plastic wrapping that USPS ships stamps in, from the mail order Philatelic Center, are not intended for long term archiving.

The suggestion to take the collection; or part of it; to a stamp show is a good one. But depending on amount of attendance, dealers may not have the time to spend looking at full boxes, and you're not likely to get the best price. A better deal would be to do a Google for stamp clubs and see if there are some near where you live. Members at these Club meetings may be more willing & able to spend time with you.

Another option is to make use of a nearby philatelic library, if you live near one. Volunteers there may be of help. For example, if one lives in the Front Range area of Colorado, one could visit the Rocky Mountain Philatelic Library in southeast Denver.

1- Look for China its really hot- 2- Older is generally better but also specific and can be $0.10-$1000 (each) . 3 Condition is very important. If in albums take some pics/ scans of first page per country and post here. If absolutely no desire to figure anything out go with an add that you feel OK with worst case is someone will look and say your nuts then you know the next move.
Silver dollars as stated are approx $30 scrap value. Those if you do scans and post on ebay should get fair market value and if something special it will likely be noticed. Finding specialty coins can be as hard as specialty stamps.

"You should; carefully and with clean hands; remove all these stamps from the wraps."

I disagree; if there's any damage, it's already done, and a few more weeks won't make any difference. In the interim, the material is clean, identified, and organized.

For the MINIMUM "melt" or "bullion" value of silver coins on a day-to-day basis,
see www.Deleted4 The price changes constantly with the silver market.

Today's "melt price" for silver dollars is $23.93 each, so you might expect $25-27 each, unless you have scarce dates. Post the dates here and we'll take a look. DO NOT CLEAN or "improve" your coins in any way; if they're dirty, leave 'em dirty.

Do NOT bring a collection to a stamp show on your first visit. Period.

The dealers are busy making sales and schmoozing with new customers, and they will take a 2-minute glance at 6 big boxes and make a low offer, especially if you have a quantity of USPS-wrapped mint U.S. By all means, visit the show, about noon on the second day, when things are slow, and talk to as many dealers as will put up with you. Ask them how they would like 6 boxes to be "organized" to make an efficient offer. Comply, and take the collection to the second show. Incidentally, if they come to your house and make an offer, do not expect the same offer if they visit a second time. Their needs have changed, they may have spent their budget in the meantime, and most importantly, neither you nor they can guarantee that the collection's exactly the way they saw it the first time. If there's one good item, and you don't know what it is, it may or may not be there.

I also doubt that 6 cartons of stamps are a major impediment to your standard of living. People who get in a hurry make tactical mistakes. If you have a gut feel the stamps are worth $2000 or more, I would join a stamp club and attend for a few months, absorbing as much knowledge as you can. Let it be known that you are "thinking about" selling out, and see what kinds of reactions you get. Some clubs simply don't have any buyers; the average age is 73 and everybody's a seller, not a buyer. BTW, I've been doing this over 60 years.