Collecting For Money Or Fun ?

I found one store in our City that buys/sells/trades stamps. Yesterday I stopped in to introduce myself and talk stamps. I walked away with more knowledge then I ever expected. There was a old Gentleman behind the counter, reserved-far from friendly. I told him I was just starting to collect stamps, he replied "don't bother- they are all worthless".
I said, I know the new ones aren't worth anything but I have a few older nice ones that might be worth something. He continued to slam/put down and discourage stamp collecting. I finally asked why do you have this store if you don't like stamps? He said because he gets to visit with 2 or 3 people a day who come through the door- he didn't like sitting at home in a rocking chair getting old. I asked what kind of collection he had- and he said none- he sold it. His eyes filled with anger and resentment when he said he had a 500,000 dollar collection-book value and sold it for 15,000 dollars. At this point, I begin to understand his bitterness. It sounded like he had collected stamps for the money- intending to cash out with a fortune in retirement and it didn't happen. How sad that his love of stamps came down to a dollar value. Today I have a little more appreciation for these pretty little pieces of paper, and a better understanding of what it means to sell your happiness. Yes, I plan to go back and visit, and take a few stamps next time. Somewhere within that angry old man, is a little boy who loved stamps.

He probably made the mistake of selling all of his stamps at one time to one dealer. If he had broken down his collection separating the valuable stamps from those not so valuable and had sold them separately to collectors, separating sets or countries then he may have done better, especially if he used an auction. Also, if he bought new issues over many years, then they would sell later at a discount. A dealer makes money if he knows what to buy, for who to buy it for and how much to pay for it to buy it and then what to sell, who to sell it to and at what price to sell it for.

If one collects for fun, there is usually no money to be gained from it. If one collects for money, there is usually no fun to be gained from it.

You can't past judgment on that poor fellow without knowing the details. Maybe he purchased his $500,000 inventory from firms like CAMPBELL-HALL , which I also did back in the 1970's .They would sell $5,000 catalog value for $100.00 .But I used them to increase the value of mixture lots that I sold in ads thru the stamp newspapers .This poor guy could of purchased those same lots for long term investment or he was on a subscribtion service for new issues.

I think we all have heard a version or two of this story before. And it isn't just stamp collecting, for its also in other "collecting" hobbies (i.e. postwar Lionel trains, antique cameras, figurines, etc.).

I got back into the hobby mainly because I could afford to put together a nice collection at today's prices. So obviously I'm back in for the unlimited enjoyment - and certainly not as an investment.

Like someone wrote on another thread........ they would have done better if they spent all their money on Dennison hinge packages.

I spent my life in the photography business until I retired recently and the situation is very similiar with the dramatic change that took place when we switched directions and went digital. Today the average person on the street uses his phone as a camera and they really do a credible job. Your Canon AE1 system you bought in the 70's for a $1000 by the time you got done isn't worth $50 today. This is a case where the person didn't buy for investment. If he used his equipment well over the years and got some nice photos, the purpose of buying it in the first place, it was an okay purchase.

My modest collection of stamps and FDC Covers over the years was all done for fun. I've never thought for a moment that it has any value at all. Though it is selfish I don't care after I pass away. I have a close friend who enjoys it as much as I do and being younger she will outlive me so I hope she enjoys it.

Perhaps the old stamp man is doing people a favor by saying what he does about the hobby.
Tom

Sometimes turning a hobby into a business will suck all the fun out of what you love. But I encourage you to revisit this fellow as you say; he well may have a wealth of great information.

Years ago my wife and I had rented a retail store front and a few doors down was the most charming Miniatures/Dolls house hobby store owned by a older couple. They literally had a sign on their front door notifying customers that they paid for the air they would breathe in the store, paid to heat and cool the air, and were not a museum, unattended children were not allowed, and that they were there to make a buck. The sign was worded so negativity that even as a retail neighbor I avoided even making eye contact with them as I passed each day. But one day I mustered the courage to step into their store and introduce myself. They were really a wonderful couple and with a massive amount of knowledge of their hobby and life in general. The sign, while certainly not the greatest ambassador of a good hobby or retailing in general, served as their 'hard outer shell'.

Surely philately's biggest sin is that we have hobbyists taking a lifetime of experiences and knowledge to their grave before communicating it to others. I wish you luck on your revisit.
don

Years ago I talked to the sole proprietor of the local model trains hobby shop. His words...... "if you want to kill your love for a hobby, turn it into a business".

Stamp collecting should not be expected to be an investment by any means, as has been stated in many topics here. I do it for the fun.

Interesting that this topic and the Collection Value topic are sitting one above the other at this point. I just gave a long and wordy view about not letting "Value" affect "Pride". I am not going to repeat it here but I think interested people might read both threads as the reflect similar views taken from a slightly different perspective.

https://www.stampcommunity.org/topi...35093#296548

I will indeed go visit him again, and I will let you all know how it goes. I intend to enjoy my stamps, trade a few, sell a few, buy a few and win the Lottery. I enjoyed your share backroads, I feel the same way- when I am buying it certainly matters what the value is, but not so much when it is just a thing of beauty in a book. I spend hours in front of this computer trying to identify what I have. What makes that crazy, is that I have never had so much fun at something so frustrating. Stamp On !

Nice topic betty0513,
I haven't collected stamps for money. I like the old style trading stuff kinda hobby like we did in the day with sports cards, which I also collect. As I get older I find the research and identification processes of stamps keeps my mind active. It becomes frustrating at times, but it keeps me challenged to accomplish the goal of finding out what I have. Plus having forums like this to assist. There are very few "hobbies" that can compare. I'd love to sit down with that man and hear his life story. Maybe some of his anger comes from no family to care about him. Especially if he has to pursue social interaction at a store. Respectfully, Gary

The $500,000 figure was probably catalog value and I'm betting he had low quality stamps (poorly centered and/or damaged). So few collectors seem to understand that Scott catalog values are for VF centered stamps with no faults. And catalogs like Brokman list inflated values and catalogs like Michel list very inflated values.

It also matters what areas his collection covered. Some countries will generate offers of a much lowerr % of Scott value than others.

I had a similar experience with a guy trying to piece out an inherited collection ... he listed several nice sets on ebay which I bid on and purchased at just a dollar or two per set. So I was pleased ... they were of no great value really but they were sets that I was missing and I was glad to find them. Until we talked about shipping. He was asking $4 shipping, and had no real specified policy in his description. I had no problem with paying $4 once (although I thought it was high for around a set of 10 stamps) ... but I thought I diluted the cost by purchasing 4 or 5 sets from him. He wanted $4 shipping for each set and became quite shirty when I questioned it ... saying that his stamps were worth far more than I bid for them and he had to make his money somehow. Long story short, I paid around $15 for the stamps and around $20 for the shipping.

When I received the envelope, it had meter postage for $2.78. I didn't leave negative feedback but I did leave neutral feedback with a description of why. He seemed very bitter in his emails about the matter ...

I thought that there was a button on ebay that one can press to report very high shipping charges.

eyeonwall wrote: "Scott catalog values are for VF centered stamps with no faults......." I go about that a little differently when I check out old albums for friends.

Right now, I'm reviewing an old album of mostly classic Russian (as an aside, I'm in process of updating my "R" Scott catalog and will get a new Classic catalog next month after I return from a trip, so I can do this right). I've told the owner that the Scott catalog is for retail values; what dealers offer will be wholesale prices, and generally a lot below Scott values. Her late husband was an avid collector of US, so she does understand the concepts.

you can and I did ...