"Straight Edge" (Trimmed Perfs) On Scott 120

I looked at a collection which has the above Scott 120 with a "straight edge" (apparently trimmed perfs) on top and on the upper right edge.
Is this considered a pretty major fault which drops the resale value by 50% or so?
I don't see similar examples in Sold Items on ebay (using the helpful stampsmarter.org 1847 tool).
Otherwise it seems like a nice example with a light cancellation.

It does, and it also has a tear up by the side of the S.

Yes, the top is trimmed, but look at it more ....


Beyond the short perfs at UR, there is also a tear and a stain in the marked oval
Two more short perfs and a possible small tear along the bottom.
While the cancel is light, it obscures the central image, thus losing face appeal.
And this is not even viewing the reverse side.

I would consider this at $0 for purposes of calculating a value on the lot and retail less than 10% catalog as a space filler. Sorry to be harsh, but this stamp will always stick out like a sore thumb next to its page-mates. Buy a better one to begin with.

Sure, but not everyone can or wants to spend hundreds of dollars to fill every space with a sound stamp. While not perfect, this example is still quite presentable, I'm sure we've all seen much worse. I've even seen highly graded stamps (well centered) with ugly splotchy cancels that still sell for way above base catalog value. To each his own.

The 1869s frequently have very poor centering. This particular copy has fairly nice centering. Despite the faults, I think it looks better on the page than a sound copy with perfs cutting into one or two sides. Now that would be a distraction on the page. If you can get this for $50 I think that would be a fair price. Others disagree?

There are two sides (or more) to the story. If you know 100% that you will never, ever be able to afford a sound copy for that empty space than it might make sense to throw money away on a stamp with very little demand in faulty condition (multiple faults and we HAVE NOT SEEN THE BACK) should you want to ever sell it. On the other hand if there is even a smidge of hope that you could at some point afford a nice copy do not toss money out the window but rather put that unspent money in the kitty for good stamp purchases.

Of course, this is said without knowing the OPs motivations or outlook. If an album full of faulty stamps is fine with them, makes them happy, than that is all that matters.

PS: Let's be real about how we view collections full of damaged stamps when presented for evaluation on this forum. It Ain't pretty.

Forgot to mention that the stamp is BADLY faded.

I think value has to do with your wallet, collecting goals and what appeals enough to you to fill the space. Some will be satisfied with filling the space and will not be looking to upgrade. Some will fill the space with looking to upgrade, but it's not a priority, and are OK with it remaining there. Some will be looking to upgrade, and they probable shouldn't buy this stamp and just wait.

The up-front, quick valuation by a seller buying it is that this is probably at %0-%10 for a damaged stamp or space-filler, depending upon how damaged and appearing. Then I think the calculus for selling it leads to the appearance for sale-ability. If it is well-centered, and has face-free faults, it could be at %15-%20. If it has a scarce fancy cancel, it could be much higher. As the faults and appearance impact front-side appeal, it goes down from there.

The pictured stamp, in my opinion could get a %10-%15 price, and mileage may vary. Try to find a seller that is below this percentage, and it will sell very quickly.

Those who do not have the luxury of purchasing really nice examples of sets like the 1869's (which I would be one if I collected this area), might think about getting a set of plate proofs instead. MUCH more attractive then a page full of poor examples of the actual stamps. A complete set of plate proofs could probably be had for less the a really fine used 120.

Totally agree. If I were starting over, or intended to start a 19th century U.S. collection, I would likely go the proofs route from an enjoyment perspective, for several reasons:

1. Much more affordable than the actual stamps overall.

2. Condition less a concern/consideration than with either mint or used stamps. Yes it's always there, but proofs tend not to be as mangled in general.

3. No dealing with NH vs. LH vs. NG vs. regummed

4. Impressions are much more crisp and colors "pop", creating a beautiful aesthetic presentation.

5. Expansion into trial color proofs, die vs. plate, india vs. card, etc., and essays provide natural opportunities for expansion of your collection as you progress.

Note: This is purely from an enjoyment/satisfaction perspective. If investment/ROI is any consideration, then it's a different matter IMO, as the U.S. proof/essay market, outside of specific in-demand and/or scarce items, has languished for a long time compared to other areas of the market.

Candidly, I think it's an underappreciated area.

There was a time 30 years ago and before when the opposite was true. When the members of The Essay-Proof Society would fight each other for items, and the proof market was hot. As they all passed, few have picked up the slack.

Please, keep thinking that.

There are four guys I eat lunch with each week that are hoping the same.
Don

I keep that thought for some plate varieties; it seems to work to a certain extent once certain eras are passed.

But I do think that if the average collector simply wanted a set of 1869 plate proofs, they would not be difficult to obtain.

The 1869 inverts are also a lot more affordable (relatively speaking) as plate proofs rather than their stamp counterparts.