Quote:
... Collecting First Day Covers, thinking they're really valuable, or will be valuable ...
There certainly has been a sea change in the market for FDCs, but maybe this is the case where we get to give ourselves a break?
(Let's exclude 'Real FDCs' or EKUs from what follows.)
Borrowing from Prof Tuchman's rules for what qualifies as folly, was the collapse in FDCs foreseeable?
What, at their core, was fatally wrong with FDCs all along?
Was this fault openly discussed at the time?
I remember much (ultimately futile) wailing against the Original Gum Tyranny fifty years ago.
And, I remember a widespread (and ever-spreading) disgust with CTOs.
I don't recall the same broad discussion about FDCs.
And, if there was not an open discussion of a fatal flaw underlying the FDC market, maybe we can give ourselves a break?
Rather than an underlying flaw, I think that it might be fair to say that FDCs were a victim of their own success.
The core of the hobby remains filling designated album spaces, with the principal goal being completeness. But fill with what?
The plain vanilla FDC looked pale next to the cacheted FDC and, as soon as there were more than a handful of cachet makers, completeness went flying out of the window. Limited edition hand-painted cachets - the lovely work of Mr Collins comes to mind - slammed that window shut, once & for all.
And once completion became impossible, you lost a lot of folks. Stamps were a government monopoly; cacheted FDCs were a free market, which anyone could enter at any time, making for a proliferation of FDCs akin to the proliferation of new issues.
I do not think that anyone who had been sending three pennies (okay, five pennies in my case) and an SASE to the post office could have foreseen a day when a collection of cacheted FDCs would be just like a collection of shot glasses from the gift shops of national parks: fun to buy, but you'd better enjoy them, because you'll never see that money again.
Cheers,
/s/ ikeyPikey