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Europe/Great Britain : Value of Penny Reds

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cocollectibles
20 Sep 2015
03:21:22pm
Over the years I have accumulated through bulk purchases or inheritance, several sets of penny reds; they must number in the thousands. Some are in sets by plate number, some in reconstructed corner letter sheets without regard to plate number, a few by plate number AND reconstructed corner letter sheets (see example below), and then loose ones (most with plate numbers identifiable). I really don't want all these varieties; I may keep a collection of cleaner issues with plate numbers, multiples, and on-cover.

So what do I do with the vast majority of these penny reds? I no longer sell on eBay. So any suggestions on what to do with them?

Thanks.

Peter


Plate 206, partially reconstructed corner letter sheet

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"TO ERR IS HUMAN; TO FORGIVE, CANINE."
thebiggnome
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20 Sep 2015
04:16:42pm
re: Value of Penny Reds

Offer them for trade or sale here, give them to kids at the stamp club, give them out at Halloween instead of pencils, wallpaper your stamp room, or send them to me!

Chris

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cocollectibles
20 Sep 2015
04:55:16pm
re: Value of Penny Reds

Quote:

"Offer them for trade or sale here, give them to kids at the stamp club, give them out at Halloween instead of pencils, wallpaper your stamp room, or send them to me!"



So if you're serious in your answer, you're basically saying these are not worth the trouble posting for sale.
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BobbyBarnhart
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They who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety. -Benjamin Franklin
20 Sep 2015
05:40:05pm
re: Value of Penny Reds

Peter

I am sure Chris was speaking tongue in cheek. Such things have substantial value, as you know, but would find a buyer only among those who specialized in this area. I suggest you assemble a complete inventory supported by photos and contact a major dealer/auction house who handles Victorian era stamps (I do not know who they are, but I'll be someone here will).

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"The only thing necessary for the triumph of evil is for good men to do nothing. -Edmund Burke"

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thebiggnome
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20 Sep 2015
05:41:28pm
re: Value of Penny Reds

Not knowing your level of wealth, I cannot speak to whether they're worth your trouble. I bet you could get a fair price if you offered them here! I also bet I could not afford them, so that part about sending them to me was tongue-in-cheek.

Chris

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cocollectibles
20 Sep 2015
06:49:23pm
re: Value of Penny Reds

Quote:

"Such things have substantial value, as you know"



No, I don't know; that's why I posted this. I can quote the CV of these stamps but I know that's a fantasy with respect to selling them. Upon asking a Brit Comm dealer locally, he basically said that these are very common and was very discouraging about such sales; he would not pay more than, literally, pennies for each penny red. Hence, my post.

@Chris, I do thank you for a response but I have not had success selling these here (have tried in the past with a handful of views, let alone any bids).
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thebiggnome
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20 Sep 2015
07:06:49pm
re: Value of Penny Reds

We've been discussing ways to increase traffic in the auctions, it's not just you. However they could also be offered in the classifieds, as a trade, or perhaps even in the approvals. Maybe there are even more ways to sell on StampoRama?

I'm wondering how much you were asking for them. I routinely buy stamps for about 10% of catalog (Mitch seems to be able to find them for 2 or 3%). These mostly cat for $2-3 anyway; at ten percent they'd only be twenty to thirty cents each (for Mitch, apparently, they'd be four to nine cents each). What were you expecting?

Chris

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BobbyBarnhart
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They who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety. -Benjamin Franklin
20 Sep 2015
07:19:09pm
re: Value of Penny Reds

The catalog goes "out the window" for material such as this. IMHO a better way to research value would be prices realized in auction and on ebay. Chris, you are correct that pricing them as individual stamps would not justify much above 10% of cv, if indeed that much. But the time and effort of assembling the reconstructed sheets adds a uniqueness to its value which cannot be assessed on cv alone. That is why I suggested what I did (and still believe it would be the best way to go).

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"The only thing necessary for the triumph of evil is for good men to do nothing. -Edmund Burke"

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cocollectibles
20 Sep 2015
07:30:42pm
re: Value of Penny Reds

I honestly do not have expectations of how much these will sell; I am doing research to see what various venues would value these. Previously I offered the full sheets for less than 10% CV. I now have a good idea from one dealer (that they're pretty much without value), and hope to ask a couple of others from feedback on dealers that I got from another post. I was hoping someone here might have a general idea of potential sales value too as we have a good cross section of collectors here, including many GB collectors. I thank you both for your replies; it adds to my information base.

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"TO ERR IS HUMAN; TO FORGIVE, CANINE."
Anglophile
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RPSL, APS, EPA; US, GB, Ireland, British Europe, Italy, Mauritius Classics
20 Sep 2015
11:56:48pm
re: Value of Penny Reds

If you have a set of the same SG or Scott number stamp in all plates except the rare plates 77 and 225, attractively mounted on pages, I have seen such things sell on eBay for about $200. In fact I bid on one and lost at $225. The buyer is basically paying for the work involved in plating all the stamps and collecting them, rather than market value for each stamp.

Reconstructed sheets are more common and a guess at retail price would be $50.

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"If this message contained legal advice, it would be followed by a bill."
cocollectibles
21 Sep 2015
06:31:11am
re: Value of Penny Reds

Thanks Nelson and Chris. This gives me a good perspective on the values.

Peter

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"TO ERR IS HUMAN; TO FORGIVE, CANINE."
Tregeor
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30 Sep 2015
06:36:33am
re: Value of Penny Reds

If you have a look at the Approvals section (on this board) you will find (I think) 20 Penny reds for sale by a seller called StampCellar. Each one is for sale at $2.25 if I remember correctly.

I myself bought a MINT Penny Red last week from E-Bay, and I paid £7.60 including post and packing from someone in the UK.

For stamps costing more than £10 I nearly always buy at an auction house I trust, here in the UK that would be Universal Philatelic Auctions. If you go to their website they have a lot of their catalogues on-line so you can see many Penny Reds (often illustrated) and the prices they are offered at and ultimately the prices they actually bring.
The thing I like about UPA is that if a stamp isn't sold it goes in the next auction until it is sold, often it appears 4 or 5 times and is reduced by 10% each time which I think gives a very good indication of what the market is prepared to pay.

Hope this helpHappys.

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malcolm197
30 Sep 2015
10:19:00am
re: Value of Penny Reds

It is unlikely that anyone here would be able to afford to buy your collection as one lot ( or am I being pessimistic or unwarrantably intrusive about our members wealth!! ).

Plate reconstruction is popular in the UK,and sizeable collections of the same plate number would probably best be offered over here.Small selections of mixed plate numbers could be sold or traded on Stamporama. Identifiable numeral postmarks might be another way of "lotting", particularly if there are any scarce offices - there might even be some GB used abroad examples.

Penny plates is one of these areas where knowledge is crucial and the first thing you need to do is identify what exactly you have in your possession.

As has been said already catalogue value is to some extent a myth, however what is certain is that provided you can identify your target market every undamaged 1d red is saleable somewhere.Unless there is anything really special selling individual copies is probably not a good use of time, but varied quantities to suit the anticipated size of your potential customer's pocket should repay your efforts.

Malcolm

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