Back in 1840, when the first postage stamp appeared in Britain, chances are no one would have guessed that stamps would become a collector’s item. Millions of people around the world collect, preserve, and trade or sell stamps. If you are considering becoming a “philatelist,” A.K.A. a stamp collector, as a hobby or an investment, there are a few things you should consider before you get started.
One of the first things you’ll need to decide is what kind of stamp to collect. Stamps can be:
You may want to focus on a specific type of collecting as well:
You can find stamps almost anywhere:
If you’re collecting used stamps, you’ll need to know how to get the stamps off the envelopes without harming them. Here’s what to do: Tear or cut the envelope around the stamp, leaving a small margin. Then, according to the Smithsonian National Postal Museum, soak the stamp, face down, for 15-20 minutes in cool water. Once the stamp floats free, remove it from the water using stamp tongs, dry it between paper towels and put a heavy book on it for a day, so it doesn’t curl.
You can store stamps in an album or on loose-leaf paper in a binder, by using stamp hinges, glassine strips with gum on one side, or stamp mounts, which are clear plastic sleeves. Transparent glassine envelopes can also protect your stamps from grease and air.
Get yourself a stamp catalogue. That will give you an idea of how much different stamps are worth, based on how rare they are. Whether your stamps are mint or used, and what condition they’re in (if they are faded, stained, or torn) will also affect their price.
There are lots of stamp clubs around – both online and locally. Ask your local postmaster or librarian or visit The Royal Philatelic Society of Canada for a listing of organizations.
If you have more than a few stamps or are collecting rare stamps, you may want to protect your investment with the right type of insurance. Look for an insurance company that specializes in fine art and collectibles and will provide you with all-risk coverage.
Contact a broker today.