Collectors cash in big on perfection
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While listed in Scott's with catalog value of only $2.25, last month one of those common 9-cent stamps was auctioned for more than 1,000 times its catalog value - a staggering $2,900.
According to Rexford, "The reason for the stratospheric price is a relatively new certified grading standard for stamps. Previously, the only certification available for stamp collectors was for authentication and opinions as to whether they had been altered. Now, a numeric grading system similar to that of collectible coins rates the attractiveness of a stamp based on its centering, printing and color."
He goes on to say, "Similar to the dot-com bubble, baseball cards in the 1980s or, my personal favorite, the outlandish prices for Beanie Babies a dozen or so years ago, enormous prices for top-grade common stamps may well prove to be short-lived. Sure, they'll always bring a premium over less well-centered examples. But 1,000 times more? I can't see that in the long term."
To read his entire article, click here.
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