Inheriting a Stamp Collection

So you inherited your grandfather's stamp collection, now what? The first thing you must decide is whether or not you wish to keep the collection. If the collection holds special meaning for you, it may be something that you want to hold onto.

Keeping the Collection: If your collection has already been sorted, organized, mounted, and placed in a safe location, then your only responsibility is to enjoy it. If not, it is a good idea to get it organized. First, decide if your album is large enough for the stamps you have. Most stamp albums can be added to with the aid of supplements and blank pages, a good investment if your album requires adding only a few stamps. If your album looks as though it couldn't possibly hold all your newly acquired stamps, you may need to purchase a larger, more comprehensive, album. This may cost more, but it will be well worth it in the long run.

Sorting Through the Collection: Once your album is purchased, or expanded upon, you should begin to sort through your stamp collection. It is a good idea to first sort your stamps by their issuing country, then by their issue date, and lastly by their catalog number. If you are unsure how to do this, you may wish to consult the Guide to Identifying a Postage Stamp.

Placing Stamps in your Album: Once you have organized your stamps in this manner, you are ready to place the stamps in your album. It is recommended that you use hinges or hingeless mounts, as opposed to, tape or the lick-em and stick-em method. Mounts can be purchased at any hobby store and relatively inexpensive. Once your collection has been sorted and mounted, you may either continue to add new stamps to your album or keep it as is. Either way you should always properly store your collection in a cool dry place. Stray away from attics and basements for the humidity and moisture could damage your collection.

Letting Go of Your Collection: If you would rather not keep your newly acquired collection, you have two options: give it away or sell it. Your collection may not be very valuable or you may know someone who would value the collection more than you do. Perhaps you have a small child or know of a 4-H group in need of a collecting badge. Giving away a collection can be rewarding in itself, and you may find it suitable to do so. If you would rather sell the collection, there are a number of options available to you.

Selling to a Local or Retail Dealer: Selling to a local or retail dealer is perhaps the most convenient way to dispose of your collection. Most dealers will sort through your collection and make you an offer based on current market prices. Be aware, however, that most offers will be a considerable amount lower than what the actual collection is worth. Most dealers are trying to turn a profit on your collection, so they will not offer you full retail value. It is best to get two or three offers from a few licensed stamp dealers before settling on one price.

Selling to a Private Collector: If you would like more for your collection than a dealer is willing to pay, you may want to consider selling your collection to a private collector. Private collectors are individuals who collect stamps for fun or profit. They are usually willing to offer you a higher price for your collection, but because they are not certified dealers, you may not have the sales protection a dealer could offer. consulting a local stamp club for a list of potential buyers, is a good way to find a reputable collector to purchase your stamps.

Selling Through a Stamp Auction House: There a quite a number of world renowned auction houses that sell higher value stamp collections. If you are quite sure your collection has a significant value, contacting an auction house may be the best way to let go of your collection. Most auction houses have clients from areas all over the world, so your odds of getting close to market prices for your stamps are greater. Keep in mind, however, that auction houses do charge a commission for selling your items, a price that may be as high as 30%.

Final Decision: Stamp collecting can bring a lifetime of enjoyment to any collector, but ultimately, the decision to keep or sell your collection lies solely in your hands. Whatever your decision, it is always best to weigh your options beforehand and make the best informed decision possible.