Selling an Old Stamp Collection: Get a Fair Look Before You Sell
An album of stamps in a closet can feel like treasure or like clutter, and it is hard to know which. The honest answer is that most collections are worth less than people hope, while a small part of some collections is worth quite a bit. This guide helps you find out which you have, without being rushed or taken advantage of. A sale could help cover a bill, such as one month of a $60 internet plan, but how much you get depends on what is in the album.
Start with storing it safely
The American Philatelic Society (APS) is the national group for stamp collectors. Its advice for anyone who has inherited or found a collection is to keep it in a cool, dry place, not an attic or basement, and to store albums upright. Damp and heat can harm paper and glue, and they can hurt the value.
Look for clues before you call anyone
Papers can save you a lot of guessing. The APS suggests looking for notes from the owner, an insurance policy or an inventory list. Many collectors kept receipts, price lists or a handwritten record of what they paid. Put these in a folder with the album.
Know what is usually worth money
The APS notes that most collections are made up mainly of fairly common stamps, and that most of the value usually comes from a small portion of the collection. So a large number of stamps does not by itself mean a large payout. A few single items may matter far more than thousands of ordinary ones. This is why a quick look by someone who knows stamps is worth more than your own guess.
Getting a fair look
- Find a dealer near you. The APS keeps a dealer directory and a local club directory on its website. A club member may also help you decide whether a formal appraisal is worth paying for.
- Ask for an in-person look. The APS says that descriptions over the phone or by email are not very useful, because condition and small details matter.
- Settle any fee first. If you ask a dealer to come to your home, agree on any charge before the visit.
- Check the dealer’s membership. The APS suggests confirming that a dealer belongs to a group such as the APS, the American Stamp Dealers Association or the National Stamp Dealers Association.
- Get more than one offer. A stamp show can be a good place to hear from several dealers in one day. The APS says an honest offer should reasonably stay open for about 30 days.
Do you need a formal appraisal?
Usually not. The APS says an appraisal is generally unnecessary unless you need one for legal reasons, such as settling an estate. It also says appraisals often cost $75 to $250 per hour and do not guarantee that anyone will buy at that price. If you do pay for one, agree on the cost beforehand and ask whether the value is for resale or for replacement, since those can be very different numbers.
Where to sell
- To a dealer. The APS says stamps in the roughly $1 to $100 range are typically sold to dealers. It is quick and simple, though a dealer needs room for profit, so expect an offer below retail.
- At public auction. For individual items worth hundreds or thousands of dollars, an auction may suit better. The APS cautions that auctions often take three months or more to pay out.
- Keep, give or donate. The APS lists these as real choices too. Some families find that handing a collection to a grandchild feels better than a small check.
Take your time
The APS observes that heirs often regret a hasty sale. If the collection came from someone you loved, talk it over with family before you decide. No honest buyer will mind waiting a few days. Be wary of anyone who pressures you to sell today, offers to buy “by the pound” without looking, or wants payment details before you have agreed on a price.
Taxes and benefits
Money from selling a collection can sometimes have tax consequences, and income can affect certain benefits such as SSI or Medicaid. Rules differ by situation, so ask a tax preparer or check irs.gov and ssa.gov before a large sale. This is general information only.
A quiet, steady plan
Sort the albums, gather any papers, and let two or three knowledgeable people look in person. A careful sale is a better plan than a fast one, and it can make the first step toward covering a bill.
