O/T : Need Help W/Stamp Collection...

[egbeachley]

I think maybe the term face value was misused. Maybe he meant book value. If it was face value, then the collection is worth at least that much - I believe the post office will take it back and pay you at face value.

[Rob D.]

Originally Posted by egbeachley

I believe the post office will take it back and pay you at face value.

If this is true, I'd insist on cash.

[JamesGallo]

This used to be true, you could get cash or current stamps. As far as I know that all changed as on 2009 they will no longer do that.

Some stamps are damn nice, its kinda a shame no one really cares anymore.

James G

[birdman42]

Originally Posted by egbeachley

I think maybe the term face value was misused. Maybe he meant book value. If it was face value, then the collection is worth at least that much - I believe the post office will take it back and pay you at face value.

Sadly, not the case. The Postal Service has sold you (or someone) the service; it's not up to them how or whether you use it. In fact, they'd prefer you didn't use the service you just paid for. Why do you think they spend so much money promoting stamp "collecting"?

There's an active market in below-face value postage. The Post Office has no use for all those scuzzy part-sheets of 13 cent stamps with the gum missing. My dear, late father-in-law, however, delighted in the thought that he was putting one over on Uncle Sam by paying only 90 cents on the dollar for postage stamps on the secondary market.

Bill

[Rich Klein]

When I used to do card store visits for my dealings in the 80's -- many of my better friends had combo card/stamp/coin stores. A good trade off; they'd let me look through NWPS (New Purchases) and I would teach them things they might not always know.

However; I did learn a few things.

1) Stamps bought over the counter were purchased at approximately 10 percent of catalog (that is; if the dealer were interested)

2) Unused postage was bought at 75-80 percent of face. Yes; bought at less than face.

What I remember; but could not google.

Supposedly; there was a big lawsuit between Greg Manning Auctioneers (who later owned Teletrade) and Scott's catalog when Scott lowered the prices in their catalog to reflect more of the reality of the real "market" rather than a market based on this purchasing of stamps at 10 percent. I heard this a couple of times but never saw anything. A link to a story or the suit about this would be great.

A google using the terms Greg Manning and Lawsuit brings up fascinating links which are not germane to this discussion.

In other words; unless you have a real scarcity -- take a reasonable offer and move on

Rich