Schemes Aimed at Stamp Investors
Since collecting stamps is a specialised segment for investors, there have been several attempts, some successful, to wring money out of investors by fraud. Before you buy any collection as an investment you will want to have the collection appraised by an experienced and knowledgeable appraiser.
Members of the American Philatelic Society and the American Stamp Dealers Association have high ethical standards that all dealers must follow as do U.K. societies such as the Aberdeen Philatelic Society in Scotland, and when looking for an appraiser, one that belongs to one of these organisations will offer your best choice. If someone looks at your collection and offers to appraise it for a percentage of its appraised value, it is probably best to say thanks, but no thanks.
In the recent past, people have taken them up on the offer to appraise their collection for five percent of the value, for example. After looking at the stamp collection, the appraiser congratulates them on owning such a wonderful collection and gives them a value that is typically way above the actual value. Now the collection owner, feeling pretty good about the collection, writes a cheque for five percent of the inflated value.
It isn’t until later when they hope to sell their collection they learn that they were cheated. Many other scams have haunted stamp collectors over the years and printing fake stamps and placing them in holders to deter potential buyers from removing them, have brought in a lot of money for the scammers. When interested in investing in stamps, a best practice is to buy from a reputable dealer.
The value of any stamp is contingent upon several factors including the number of that particular stamp that is available on the market. Demand from collectors in different countries also plays a role in its value and what the stamp is worth in one country may be different than it’s worth in another country.
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