money

Inherited stamp collection? - What to do!

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from touch time I get asked some form of

this question hi I just inherited this

stamp collection what should I do

firstly sorry for your loss there's no

need to rush into making a decision and

if you can afford taking up the space

for a while look to storing it safely

until you are ready to make that

decision keeping it safe means keeping

it away from potential water damage all

from getting eaten by moths and other

paper loving creatures store it in cool

dry places so that humidity does not

affect it so don't place it in your

basement or attic garage outside tool

shed you get the point for any stamp

albums keep them upright don't store

them on top of each other because

pressure can make some stamps stick to

the album

now when you're ready to make a decision

the number one thing that will help to

decide on the best way to move forward

will be figuring out how much the stamp

collection is worth but I hope to not

disappoint you because the answer is

probably not a lot there are many

reasons why your loved one may have

collected stamps it's educational a fun

way to pass time it's therapeutic it's

exciting it's challenging and it can be

an investment so unless the collector

was purchasing high value stamps as an

investment then your collection is

probably not worth much value but don't

be discouraged from watching the rest of

this video so how do we determine how

much your collection is worth firstly

it's possible that the collector left

instructions if they were serious

philatelist they may have left guidance

on how to move forward with an inventory

list and maybe even an appraisal Oh a

philatelist is what we call ourselves

philately is the study of postage stamps

look for receipts like these they would

have a listing of the prices that the

collector paid there may also be an

insurance policy or maybe an inventory

list you may not even realize that there

is an inventory list because it's a

scribbling of numbers that look like

this these are catalog numbers and you

can find the appropriate catalog in the

reference section of some library's

catalogs such as these Scot catalogs

list and value every stamp ever issued

if you are gonna refer to catalog vens

just keep this in mind catalogs list and

Esper a tional price for the dealer so

if the dealer had a perfect stamp one

that was in great condition and was a

number of other factors including the

watermark postmark how else entered it

is and much more then maybe the dealer

could sell it for that price also the

dealer will have to purchase the stem

from you at a lower price and what they

could sell it at for profit and there is

a level of risk associated with

purchasing stamps from you you're not a

reputable dealer so there is a rule of

thumb out there that you should probably

assume less than ten percent of the

value that a catalog lists one of the

things you could do is get advice from

dealers look for and contact dealers

near you if you are located in the

United States the American philatelic

Society provides an online list of

reputable dealers if you are located in

the UK the philatelic trader Society

provides

an online list of dealers both of those

links are in the description of this

video if you are located anywhere else

look up what society or Association may

be in your country and contact them for

further information on dealers if you do

contact the dealer they may initially

ask you to send some photos to them just

so they can get an understanding on what

type of collection you have the more

likely you can arrange for an

appointment with them where you can take

your step collection to them and then

they can give you the advice as well as

what they would be willing to pay for it

just remember to take the entirety of

this 10 collection and not what you

think is a small sample of the more

valuable stamps to them because they

have a much better eye for identifying

what is and is not valuable also make it

clear that this is not an appraisal

those get charged by the hour you're

just looking to understand what somebody

would be willing to pay for your

collection if your collection is fairly

large they may be willing to travel out

to you but maybe for a cost also their

stamp shows they are organized by an

italic clubs and societies you can meet

dealers there and discuss your

collection with them contact clubs and

societies in your area to find out when

the next one is and I've made a couple

of videos where I visit step shows check

them out for an idea of what to expect

when visiting one I have linked them in

the description below just don't feel

pressured to sell the collection to any

one of them immediately in general they

are fair and unlikely to rip you off but

always recommend getting the opinion of

two or maybe three dealers before making

a decision also you could request for an

appraisal but it's not really necessary

unless is for legal reasons and it

doesn't even guarantee that you'll be

able to sell the steps for the prices

given just make sure you discuss the

cost of the appraisal upfront in general

if the collection looks to be a mix of

stems from countries all over the world

mostly issued after 1960 and not stored

in any elaborate way it's probably not

worth much

if you do see lots of old stamps it

still doesn't mean it's worth much value

depends on so much more and it's the

rarest stamps that have the value but I

cannot insist that this is always the

case because there are true stories of

amazing finds hidden in attics so now

that you may have an understanding of

what your collection is worth let's run

through some options on what you can do

with it first option is to keep it and

become a philatelist there's so much to

enjoy an experience with stamp

collecting it's a brilliant hobby to

pick up and enjoy I've made a channel on

YouTube dedicated to the history thrill

excitement and fascination of stamp

collecting check out my videos watch the

playlist and I'm certain that you'll

consider taking part in the exciting

world of philately

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if you're not looking to keep the stamps

and they're of insignificant value

consider giving them to a friend or

family member their clique stems or even

to an organization the American

philatelic Society accepts donations and

they're a non-for-profit organization so

you can claim a tax deduction from them

if you're in the UK you can donate to

Oxfam Great Britain they accept stamps

this is great because it puts the stamps

back in circulation and ultimately helps

them find a new home another option if

there is still of insignificant value is

to make something from them this could

be something that is displayed in your

home and a way to remember the loved one

by you can make it yourself or send your

stamps to an artist who can work with

you to create something beautiful I've

made a video about stamp on well visited

stamp artists such as Suzanne from are

stamped and explored the world of stamp

art that video link as well as the

contact info for art stamp is in the

description below if you are looking to

sell your stamps you could do it in a

number of ways firstly you can sell the

stamp to yourself on a platform such as

eBay this takes a tremendous amount of

effort especially if you're gonna list

the steps individually you'll need to

research the stamp and its value and

it'll take a long time to sell the

collection off but warning you may

actually fall in love with philately as

a result of doing that and not want to

sell your collection or after all you

may also want to break up your stamps in

bulk and sell them that way instead of

individually but I recommend seeking out

the advice from a dealer before doing

that you could sell your stamps directly

to a dealer for what they offer this is

the quickest way to receive payment you

may have more interest in seeing how

they sell their stems and arrange for

portions of your collection to be

purchased by different dealers for

example a dealer that specializes in

South American stamps will be more

interested in well your South American

stamps so you would sell them those and

then break up the rest of your

collection to sell to other dealers if

you truly have something of high value

maybe a public auction

is the best way to proceed as long as

it's well publicized collectors receive

a catalog with a picture of the stamp in

on it look bid on it keep in mind though

that public auctions can take three

months or more before payment is

received whatever you choose to do make

sure you consult with your family before

acting

oftentimes these stamp collections have

more sentimental value than fine

for value and never feel pressure to

sell the collection take your time I

hope you found this video helpful I put

a number of other useful links in the

description below thank you for watching

and good luck

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