Is Modern Stamps, Inc. A Legitimate Stamp Auction Firm?

rogdcam - Would "Modern Stamps, Inc seems to be selling some dubious stamps." be a better title?

Let's talk about Bardo Stamps. You know how they can sell modern issue stamps without suspicion? Because they charge double the face value for a sheet of them. If somebody wants to spend $32 for a sheet of Jimmy Carter stamps that they could buy from USPS for $15.60, that is their own poor decision, but I would trust Bardo's stamps to be authentic and legitimately acquired. The same goes for overpriced Mystic Stamp selling them for $34.95.

On the other hand, I still haven't heard your opinion of how genuine, legitimately acquired Forever stamps could be selling for such a deep discount at Modern Stamps? Take for instance Lot #136. 30 sheets of current issue Compass Rose global forever stamps. $510 face opening for $300. Bardo's is selling them for $32.50 a sheet, Mystic for $37.50 a sheet, while Modern is willing to let them go for $10 a sheet. That doesn't seem suspicious, or at least very odd to you? It is extremely unlikely they came from some leftover subscription service of a deceased collector.

So even if 98% of what Modern sells is totally legit, should they get a free pass on everything? Maybe this will be a wakeup call to do what some other dealers have done and stop purchasing bulk lots of Forever stamps. It's sad that a bunch of fraudulent sellers on places like ebay and Facebook Marketplace have done this to the Forever market, but that is the reality we are living in.

Edited: "definitely" to "extremely unlikely" to describe the likelihood of these stamps coming from a deceased collector's subscription service.

The auction house is legit. Whether the stamps are "hot" or the consignment is dubious for tax reasons… well that's gray area to me.

Even the best and most famous auction houses (stamps, artwork, sports, jewelry) deal with material that was obtained or being sold for reasons that are very gray. When you walk into Siegel offices with a 250000 stamp collection to auction, do they ask for receipts or proof of where you obtained it. ???

My opinion is that it is the auction house responsibility to their buyers to make sure the listing is accurately described, not forgery/counterfeit (and if it is they need to tell us), and be transparent on previous expert opinions if available.

Bardo's is a retailer. Modern is an auctioneer. Pretty simple. The point is that the stamps are out there. There are around 50 listings on ebay for them right now. You use the word "definitely". Ok, prove your statement or stop this. Prove what is really going on. The burden is on you since you are the one making accusations. Where did they come from? Are they real? You say you "definitely" know what isn't true. How so?

"The point is that the stamps are out there. There are around 50 listings on ebay for them right now."

The fact that they are being offered on ebay right now says absolutely nothing about whether the ones Modern Stamps is offering are legit or not.

"Take for instance Lot #136. 30 sheets of current issue Compass Rose global forever stamps"

No collector would have had a subscription for 30 sheets, and you can't convince me there were 30 collectors in the Detroit area that had subscriptions and all just died and their heirs all rushed to Modern to dispose of them. While some are brought out quickly, because of grief and uncertainty as to what to do, it is often years before collections are brought to market by heirs.

As I stated before, buy the lot and prove it. Or prove it wrong. There is nothing wrong with having suspicions, but that is all you have.

As a dealer that does many shows per year throughout the country - you will be amazed on what face material walks thru the door....

I promise you.....Modern stamps can make a profit @ 60%!! and have happy buyers.

StampSlacker ---
Below is a listing I am selling currently on my site.....
Are these legit???
People do buy large quantities....

-------------------------
1973 8c Postal People
x10 DIFF DESINGS
#1489-1498
---------------------
UNOPENED POST OFFICE PACKS of 100 SHEETS ea.
This lot has 4 packs - 100 sheets x$4 sheet = $400
x4 packs = $1600 FACE VALUE
They appear to be each from all 4 positions
UL - LL - LR - UR --- w/plate# ending 34081
TOTALLY UNCHECKED FOR BACK PLATE #s
CONDITION: XF og NH - PO FRESH!!!
buy all 4 packs - $1600 in face for.....32% FACE!!!
$500

I think the question I want answered is who is buying large numbers of sheets of current Forever stamps and selling them at less than face?

I assume 1973 sheets were purchased by collector or investor or business, socked away for many years and now current owner is taking a hit (or they were inherited)

I think auction house has nothing to do with the question proposed as auction house is legit business

I agree that we should not infer auction house is not legit and upstanding business

Rev - there is no way I am going to buy something I suspect is counterfeit.

Sheetguy - 50 year old sheets have nothing to do with current forevers.

rgstamp - I agree. Who is selling large quantities of Forever stamps at a substantial loss? I asked Modern Stamps and posted their response on how they are acquiring so many current issue stamps. People can choose to believe or not believe their answer.

Like you posted earlier, what is the responsibility of an auction house when it comes to selling stamps? As long as they aren't knowingly reselling criminally acquired or counterfeit stamps, is that good enough provenance? I guess it would depend on who you ask.

In my mind, the simplest answer to would be for Modern Stamps to just stop buying Forever stamps from the public. They said they are the only dealer in the Detroit area buying large quantities of "Postage", so just stick to non-Forever stamps. If that policy is too strict then they could say there are only going to buy Forever stamps at least five years old. That would at least cut off any potentially shady sellers of current issue Forevers.

so This is in Detroit, is it ?
people Turning up dead, you say ?
money Laundry, tax Evasion ?

Start your own auction house and get back to us.

eyeonwall - my point is the larger quantities in 1 lot at super discount from face...

stamp slacker - counterfeits go back way longer than 5 years....they around also.
Have you seen the Specialized Catalog of US Counterfeits??? Scott sells it separately than list in Specialized because of the vastness of the body of work.

Time to end this topic. Unfortunately, the title questioned whether or not Modern was legitimate which was never a real question if you just looked at their history of 40 years. On top of that I added that I have been a customer. This entire thing is about a "suspicion". Silly