Saturday, February 07, 2009

Investing in Stamps

On the Personal Money Store's blog the question is asked "Do you need a payday loan because you invested in stamp collecting?"

The anonymous "Payday Loan Writer at Large Writer" says, "I certainly could use a Payday Loan at this moment. Collecting stamps was the rage all those years ago. There were articles in the newspapers and every city had stamp dealers. Most of the collectors did it for the hobby while others thought about future values. Stamp values always increased.

"40 years later I’m sitting with a cupboard full of stamp albums. Stamp collecting went out of fashion when countries began issuing huge numbers of stamps. The hobby also faded against the competition of electronic games and computers."

He (or possibly she) goes on to lament how his/her stamp collection is now worthless along with his/her stock market investments citing "Phil, a well-known philatelist" who told them “It’s all gone down the drain. Very few stamps have any value. The whole market just collapsed."

Obviously the writer and the "well-known", unknown philatelist don't know what they are talking about. But it's kind of a fun read and you can leave a comment telling them what you think.

To read the entire article, click here.

For some helpful information about investing in stamps, click here.
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posted by Don Schilling at 12:01 AM