Selling a Stamp Collection From an Estate: What It's Worth, What Not to Touch, and Where It Goes

First, Look for the Collector's Own Notes

Before anyone values anything, search the desk and the albums for an inventory list, a want list, receipts from dealers or auctions, a separate insurance rider or policy covering the collection, and any written instructions about what the collector wanted done with it. The APS lists those exact items as the most useful starting points for heirs. A collector who insured the stamps separately probably had material worth insuring, and dealer invoices show where the better pieces came from. If you find nothing, the next step is getting someone qualified to look at it in person; the APS is blunt that descriptions over the phone or by email are not productive.

Catalog Value Is Not What You'll Be Paid

The Scott Standard Postage Stamp Catalogue, which many public libraries keep, lists and values postage stamps by country and number. It's a useful reference, but the APS's own FAQ warns that you should not expect to sell stamps for the listed values: many dealers sell below catalog, and to stay in business they have to buy for less than they sell. Age is also a weak guide. The APS notes that a number of U.S. stamps issued in the 1800s list at the Scott catalog's minimum value of 20 cents, and that Scott values are based on stamps with Fine to Very Fine centering, so off-center or damaged copies are worth less than the listing. Most collections are mostly common material, and the APS says most of the value usually sits in a small portion of the collection.

Mint U.S. Postage Is Still Postage

Sheets and booklets of unused U.S. stamps are common in estates, especially from the 1940s through the 1980s. According to the APS, all U.S. stamps issued since the Civil War are still valid for postage, and dealers often sell stamps from that era at or even below face value. The APS also says most U.S. stamps issued since 1940 sell today at or around their original face value. In practice, that means a stack of mint postage is often worth about what it says on it, and its most useful job may be paying the postage on the estate's own mail. Non-denominated letter stamps (A through H) also remain valid at set values the APS lists. Stamps that were already used are not valid for postage, even if they missed a cancel.

Getting Help Without Getting Taken

The APS recommends contacting a member dealer or a local stamp club, or going to a nearby stamp show, and it keeps searchable directories of all three. A club member can often tell you whether a collection is worth the cost of a formal appraisal. If you take the albums to a dealer, say clearly that you are not asking for an official appraisal unless you are prepared to pay for one. If you ask a dealer to come to the house, the APS notes that they may expect to be paid, so agree on that in advance.

The APS says the vast majority of dealers are trustworthy, and it suggests checking that a dealer belongs to the APS, the American Stamp Dealers Association or the National Stamp Dealers Association, which have codes of ethics. A stamp show is the easiest way to compare: you can show the same albums to several dealers in one afternoon and see who pays what. Get more than one offer and take your time; the APS says it has seen too many heirs sell in a hurry and regret it.

When a Formal Appraisal Is Worth Paying For

A paid appraisal makes sense when the estate needs a documented value, for example for an estate inventory, a dispute among heirs, an insurance claim or a charitable donation, or when the collector's notes suggest serious material. The APS says a formal appraisal may not be needed unless it's required for legal purposes, that it could cost $75 to $250 an hour, and that it doesn't guarantee the stamps will sell at the appraised value. Agree in advance on the fee and on whether the appraisal reports resale value or replacement value, and expect the appraiser to focus on the better items rather than inventorying every common stamp.

Our guide to hiring an appraiser before an estate sale covers credentials and fee structures more generally. Collections often come in pairs, too; if the same desk holds coins, see selling a coin collection from an estate.

Where an Inherited Stamp Collection Usually Goes

• Kept or passed on. The APS suggests that if a collection has little monetary value, a child or grandchild may get more from it as a hobby than the family would get from selling it
• Stamp dealers. The APS says most mid-priced material, roughly $1 to $100 an item, is sold to dealers, either as one lot or in parts to specialists. A dealer who focuses on Latin America may pay more for Mexican stamps than a general U.S. dealer, and a postal history specialist may pay more for covers
• Public auction. For individual items worth hundreds or thousands of dollars, the APS says a well-publicized public auction is often the right venue, but payment will likely take three months or more, where a dealer usually pays right away
• Donation. Some philatelic organizations, including the APS, are IRS-approved nonprofits and accept donations. Check what the organization actually needs before you ship anything, and see what an estate can and can't deduct
• The estate sale. Low-value albums, supplies, mint postage and general accumulations can go on the sale tables. A collection with real value usually shouldn't, and a good estate sale company will tell you so

Questions to Ask an Estate Sale Company

• Do you have someone who knows stamps, or do you refer collections to a dealer or auction house before the sale?
• Will you set stamp albums and covers aside for a separate evaluation instead of pricing them for the tables?
• If a dealer buys the collection through you, is your commission taken from that sale? Put the answer in the contract
• How do you display and secure albums during the sale so pages aren't pulled or stamps removed?
• What happens to stamps that don't sell? Are they returned, donated or included in a buyout?

Red Flags

• A buyer who insists you decide on the spot. The APS says it isn't unreasonable to expect an offer to stay valid for 30 days, and that if someone demands an immediate decision you are probably better off passing
• An offer made from photos or a phone description of a collection nobody has looked through
• Someone who calls a free look an 'appraisal' and then wants to buy the whole lot that afternoon. Ask up front whether you are getting an informal valuation or a paid appraisal
• Collector products sold by mail-order promoters, such as 'gold' replica stamps or heavily advertised limited sets, presented as investments. The APS notes that gold stamp replicas are not actual postage stamps and have little resale market
• A dealer who won't say whether they belong to the APS, the American Stamp Dealers Association or the National Stamp Dealers Association, all of which the APS says have codes of ethics