Collectors Stuck on Priceless Rarities in Book Form

For more than a century, many people have paid as much attention to what was on their mail as in it. Direct marketers know a compelling postage stamp or two will make a plain envelope stand out.

A complete list of next year's U.S. stamps hasn't yet been released, but it's a safe bet that well over 100 will be produced. And, as much as collectors and letter-writers enjoy anticipating what's to come on new stamps, peering into the past is even more compelling.

Of the roughly 5,000 different U.S. stamps issued since the first one appeared in 1847, a select handful entices collectors and investors for their beauty, engraving and rarity. Just how one might go about selecting 100 "best of the best" might seem daunting, but authors Donald Sundman and Janet Klug have tried in the new book, "100 Greatest American Stamps."

The 144-page, full-color coffee-table book is a collector's dream of the most sought-after that stamps hobbyists would die to own. But, it's not just a pretty picture book. Detailed research offers fascinating and fun stories behind the issues. From George Washington mania of the 1860s to the Elvis Presley stamp — known to be the most popular issue of all time — "100 Greatest American Stamps" is a treasure trove of information.

While not intended to be a price guide, included with the profile of each stamp are market values from the past and present, auction results and collecting tips. An illustrated introduction also offers an insight into the history of stamps in America.

As a last-minute gift for a collector or historian on your list, "100 Greatest American Stamps" could be the ideal way for them to vicariously enjoy these miniature pieces of art without spending the fortune it would cost to own them. It sells at major hobby and bookstores for $29.95 or can be ordered online from the publisher at www.whitmanbooks.com.

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History again appears to be repeating itself. In 1980, gold hit its zenith of $850 an ounce. It's not far off that now. (However, consider that adjusted for inflation, gold would have to be way north of $2,000 to even break even right now.) At that same time, rare stamps had a similar meteoric rise with the classic Graf Zeppelin stamps issued in 1930 soaring to upward of $8,000 for the set of three.

By the mid-'80s, prices settled back to realistic levels. Today, the set has a catalog value of between $1,500 and $2,600 depending on whether or not they had been mounted in an album with paper "hinges" on the back. Yes, collectors pay close attention to the reverse of the stamp too.

Obviously, with any collectible — be it a vintage car or rare book — condition is key. The nicer it is, the more money it brings. But, just as in 1980, some prices can seem somewhat preposterous.

A recent ad in a hobby publication advertised sets of the Graf Zeppelin stamps in various grades. Some were better centered than others. All had been graded by the Professional Stamp Experts organization. For a fee, PSE examines stamps and gives them a numbered grade (between 1 and 100) depending on how crisp, clean and nicely centered they are.

As I've mentioned before, some of the prices for higher-graded stamps seem borderline crazy. A set of the Zeppelin stamps in "85" condition was selling for almost $3,000. In "90" grade, the price jumped to just under $4,000, and at a "95" grade, the value was more than $5,000. But, wait! In a grade of "98," the asking price was a staggering $16,000.

I can't recommend spending that kind of money for a philatelic stocking stuffer. On the other hand, while prices such as this last, I again encourage taking a second look at any old stamps you may own. If you discover any really nicely centered ones, it could be worth getting them certified. Then, I'd sell. Maybe I'm wrong — I have been many times before — but whether with gold or stamps, if 1980 taught us anything, it's what goes up will more than likely come down.

(Editor's Note: A JPEG visual of "100 Greatest American Stamps" book is being sent for your use with this week's column.)

To find out more about Peter Rexford and to read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate Web page at www.creators.com.

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