So you have just inherited a stamp collection from Great Aunty Jane or Grandpa Bob. For most people, the first thing they will need to decide is whether or not to keep the collection or dispose of it. If you decide to keep it, great!
However, if you decide that you want to dispose of it, you need to be aware that there are a LOT of myths surrounding stamp collecting.
Am I now rich?
90% of inherited stamp collections are nothing more than childhood collections that have more sentimental value than real value. They are often in poor condition with many defects. Those collections which hold material of real value are usually outlined in wills to be disposed of by a specific auction house.
Also, as with anything, there needs to be a demand for what you own. Many stamps can now be easily obtained, and often very cheaply, from places such as Ebay. This means those stamp catalogue values are rarely true values.
In other words, don’t expect to quit your job and retire on a private island in the Caribbean.
But these stamps are antiques!
People often believe that the age of a stamp determines its value. Unfortunately, stamps were produced in quantities of hundreds of thousands – if not millions. Prior to the digital age, most people communicated via ‘snail mail’ and Postal Services ensured they had enough stamps printed to meet this demand.
Age itself, is not an indicator of value.
How can I find out more?
The first step is to contact a recognised stamp dealer or philatelic association who can value your collection. Most people are charged a fee for a valuation, so check with the dealer or organisation what this fee is. Sometimes those fees are worth considerably more than what you will be offered for the collection.
Also, keep in mind, dealers won’t spend a huge amount of time checking each stamp for any potential variety. They will generally give a ‘first-sight’ value. If they feel there is some value, they will make you an offer.
What if no one wants it?
If you have been given professional advice that the collection has no value, or you just can’t be bothered with the process or expense, there are other avenues such as selling the collection on Facebook, Ebay or any other online selling website.
You may also like to donate the collection to a stamp collecting association for Youth. They often need material and always welcome donations. Many people feel that donating to youth keeps their loved ones’ memory alive. Warm fuzzies.
Any last minute tips?
Yes!
- Don’t soak stamps, cut them off envelopes or throw away their contents. You could inadvertently destroy their value.
- Don’t cut up an album. There are collectors who collect albums.
- Have very clear pics, or even better, good quality scans! Potential buyers with experience will be looking at all aspects of a stamp or cover. One small dot in a good quality scan can create demand and drive up a price.
- Check out the Exploring Stamps video below on how to store the collection until you are ready to dispose of it.
Articles
- 4 Most Important Factors that Determine Stamp Collection Value
- Evaluating and selling an inherited stamp collection
- Help! I’ve Just Inherited a Stamp Collection
- Selling an Inherited Stamp Collection
Blog
- How to Sell a Stamp Collection
- Inherited Stamp Collection
- Inheriting a philatelic collection
- Suggestions for an Inherited Collection
- What to do when you inherit stamps
YouTube
- Exploring Stamps: Inherited stamp collection? – What to do!
- Ourdadsstamps: What Can I do With Grandad’s Stamps?
- Paul Fraser Collectibles: “I’ve inherited a stamp collection – what should I do?”
- Postal Pleasures: What are my stamps worth? An Introduction to Stampworld.com