Faulty Stamps

Hi,

Do many collectors in this group save faulty stamps as place
holders until a perfect copy comes along? Or do they leave empty
spaces until a perfect copy and funds come along? Or is there a price
point where a faulty stamp at a price that fits available funds is
preferred over waiting to win the lottery?

Almost 50 years ago I passed on a faulty revenue stamp at $175
and it wasn't until recently that I obtained an off center, with no
pieces missing copy at a large piece of my pension check. If I had
bought the faulty copy it would be in my collection and I would have
more ice cream & pie money.

Comments?

Have fun, Art

On 4 June, 02:03, Art wrote:
Hi,

* * *Do many collectors in this group save faulty stamps as place
holders until a perfect copy comes along? Or do they leave empty
spaces until a perfect copy and funds come along? Or is there a price
point where a faulty stamp at a price that fits available funds is
preferred over waiting to win the lottery?

* * *Comments?

Have fun, Art

I always mount them as placeholders on the grounds that (a) an empty
space is worse than no stamp at all, and (b) at least I know what it
looks like and where it goes when a better example comes along.

The only drawback is when the fault isn't immediately visible, like a
thin or small tear, which may mean that when the "goodie" comes along,
it gets passed by as a duplicate.

Price is also a consideration, either (a) a faulty example may be the
only way I can justify buying a high CV stamp at all, or, conversely,
(b) I may prefer to wait for a better example than spend a few pounds
on a faulty one which I'd be reticent about re-selling.

There's a steady flow of stamps through my collection anyway, as
better examples (e.g. lighter postmarks) come along, so where do you
draw the line as to what not to mount?

Chris

On Jun 3, 8:03*pm, Art wrote:
Hi,

* * *Do many collectors in this group save faulty stamps as place
holders until a perfect copy comes along? Or do they leave empty
spaces until a perfect copy and funds come along? Or is there a price
point where a faulty stamp at a price that fits available funds is
preferred over waiting to win the lottery?

* * *Almost 50 years ago I passed on a faulty revenue stamp at $175
and it wasn't until recently that I obtained an off center, with no
pieces missing copy at a large piece of my pension check. If I had
bought the faulty copy it would be in my collection and I would have
more ice cream & pie money.

* * *Comments?

Have fun, Art

Art--personally, I put damaged stamps into the collection. To avoid
the problem Chris mentioned, I have for 40+ years made a pencil
notation of the catalog number and the catalog price discounted for
condition below or next to the item. If discounted, I note the defect
and the decimal fraction of the remainder. For example, an off-center
stamp valued at 5% of catalog would include "0.05, centering" as a
discount explanation.

Relative to pricing, I recently spent about a year doing an inventory
of a deceased friend's collection and got a useful education on
pricing from two dealers. The inventory was of items with a catalog
value of $10 or more, discounted for condition. Any distinct defect--
tear, thin, stain, heavy cancel, poor centering, etc. drops the value
at least 90%. The two dealers were not in the market to buy the
material, and one was the APS volunteer providing estate services to
the family. My conclusion was that the family should expect dealers
to offer about 20% of the inentory total. Thus if one is buying a
stamp with a distinct defect, recognize that the dealer probably paid
no more than 2% of catalog for the item (20% of 10%). It would seem
to be unproductive to pay any more than 10% of catalog for such an
item.

BUT there are reasons why we often "overpay." If one is writing a
story about a particular stamp, or needs a particular item for an
exhibit, one has to take what one can find, and that may be faulty;
price may be a lower priority than availability. Further, although it
warps the definition of catalog value, there are times when something
special about an item means that a specialized catalog gives a much
higher price to an item than a standard catalog. A very rare cancel
or other postal marking on a damaged item may raise the catalog value
to a point that out-weighs the damage.

Stan

On Jun 4, 10:16*am, Sir F. A. Rien wrote:
Stan found these unused words:



On Jun 3, 8:03*pm, Art wrote:
Hi,

* * *Do many collectors in this group save faulty stamps as place
holders until a perfect copy comes along? Or do they leave empty
spaces until a perfect copy and funds come along? Or is there a price
point where a faulty stamp at a price that fits available funds is
preferred over waiting to win the lottery?

* * *Almost 50 years ago I passed on a faulty revenue stamp at $175
and it wasn't until recently that I obtained an off center, with no
pieces missing copy at a large piece of my pension check. If I had
bought the faulty copy it would be in my collection and I would have
more ice cream & pie money.

* * *Comments?

Have fun, Art

Art--personally, I put damaged stamps into the collection. *To avoid
the problem Chris mentioned, I have for 40+ years made a pencil
notation of the catalog number and the catalog price discounted for
condition below or next to the item. *If discounted, I note the defect
and the decimal fraction of the remainder. *For example, an off-center
stamp valued at 5% of catalog would include "0.05, centering" as a
discount explanation.

Relative to pricing, I recently spent about a year doing an inventory
of a deceased friend's collection and got a useful education on
pricing from two dealers. *The inventory was of items with a catalog
value of $10 or more, discounted for condition. *Any distinct defect--
tear, thin, stain, heavy cancel, poor centering, etc. drops the value
at least 90%. *The two dealers were not in the market to buy the
material, and one was the APS volunteer providing estate services to
the family. *My conclusion was that the family should expect dealers
to offer about 20% of the inentory total. *Thus if one is buying a
stamp with a distinct defect, recognize that the dealer probably paid
no more than 2% of catalog for the item (20% of 10%). *It would seem
to be unproductive to pay any more than 10% of catalog for such an
item.

BUT there are reasons why we often "overpay." *If one is writing a
story about a particular stamp, or needs a particular item for an
exhibit, one has to take what one can find, and that may be faulty;
price may be a lower priority than availability. *Further, although it
warps the definition of catalog value, there are times when something
special about an item means that a specialized catalog gives a much
higher price to an item than a standard catalog. *A very rare cancel
or other postal marking on a damaged item may raise the catalog value
to a point that out-weighs the damage.

Stan

A perfect example of this is a Mulready cover dated 9th May 1840 that just
sold on eBay.

It has major pasted reinforcement on the back and still a large hole on the
front. Rather 'ugly' to most viewers, until one knows that it is a
previously -=unrecorded=- usage and has a catalogue exceeding $5,000.

Sale price ....US $ 33 including shipping.

I know several GB specialists with boot marks on the seats of their pants
... G!

I suspect that the boot marks match those of their own boots.

Blair