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Stamps (Philately)/Louiisiana purchase stamp sets

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Question
Mike
   I have two sets of Louisiana Purchase stamps and two Jefferson error stamps that I purchased as an investment about 12 year ago.  I keep getting calls telling me these stamps have appreciated 6-8 times over the purchase price.  All the information that I can glean doesn't come anywhere near that.  Can you help me?  I think I am being scammed.

Answer
Hi Roy,
Thanks for the question,
Roy, I can understand your frustration, and your skepticism. It sounds as though it may be well warranted as in general the stamp market has somewhat decreased in the last 12 years not increased.  Although you did not say how much you paid for the sets, it is extremely doubtful, at best, that they went up in value that much. I would also be very cautious of any firm calling to sell investment opportunities. That set (Scott#'s 323-327 currently has a catalog value of $325 in very fine hinged condition, or $845 in very fine Never hinged condition. The retail value in general is usually much less, anywhere from 10-70% depending on condition, as in most collectables condition is key. If yours are in exceptional condition, front and back, (centering, original gum etc.) then it may be possible that they did increase in value some, again I don't know the original cost. You May want to do a search on Ebay or other sites to see what similar sets are selling for (not what is being asked).
Now as for the 2 Jefferson errors, I would probably need a scan to give you an idea of value. But to be honest I can't think of any off hand that are extremely valuable. By far the most common Jefferson error is Scott# 807 3c purple stampfrom what is known as the "Presidential Series". This has many misperfs (perforations out of alignment), also many inking errors (over and underinked), and other errors. Very few would be worth more than $10 and most much less.
Sorry about the bad news, but I hope it helps some. If you would like more accurate estimates of value on the sets or the Jefferson error then you would have to do a follow-up with clear pictures/scans of the stamps.

Thanks again for the question,
Mike


If you would like to find out more about EFO's (Error's, Freaks and Oddities) then please visit the site of the EFOCC (Error's, Freaks and Oddities Collectors club)

http://www.efocc.org/

Or if you would like to see examples of a lot of different EFO's then you may want to check out my Ebay or Bidstart Stores at the link below.
Ebay
http://www.mikesstamps.com
Bidstart
http://www.bidstart.com/Mikes-Stamps_QQstorenameQQ100122QQuseridQQshop

Stamps (Philately)

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Mike Stern

Expertise

My specialty is United States Errors, but I can answer most questions on United States stamps (except covers). I have been collecting U.S. stamps for about 35 years, and U.S. Errors for approximately 25 years. I have been selling both online for about 4 years. I am also a member of the APS (American Philatelic Society)

Experience

As I said above, I have been collecting U.S. stamps for about 35 years, and U.S. Errors for approximately 25 years. I have been selling both online for about 4 years, mostly on Ebay and Bidstart.com.

Organizations
I am a 25+ year member of the APS

Education/Credentials
I went to 2 years of college at Wentworth Institute of Technology in Boston, and received a degree in Applied Science

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