How to check value of stamps?

Catweazle

Greenie
Jul 4, 2023
10
9
Australia
Primary Interest:
All Treasure Hunting
Another choice is to use (say, 50%) of the value shown on the Stamp World site then donate the collection to a 501 (c) 3 entity and take a tax write off. Using 50% will show conservatism in your evaluation should the IRS audit.
Don...

Can you explain further what you mean here? Do the tax folks in the States accept donations of stamps and, if so, what do they do with them? What's the point of the process? I read something about this over on another forum not so long ago. How do they value stamps if the typical catalogue prices are miles over regular retail?
 

Mackaydon

Gold Member
Oct 26, 2004
23,905
22,441
N. San Diego Pic of my 2 best 'finds'; son & g/son
🏆 Honorable Mentions:
2
Detector(s) used
Minelab Explorer
Primary Interest:
Shipwrecks
See my posts #4 and #20. You can also contact a Boy Scouts of America Stamp Collecting Merit Badge Counselor and get a receipit from him of your collection valued at 50% of the Stampworld.com value.
You may still be challenged by the tax people, but at least you have a noted source/reference for your evaluation.
The counselor then uses the stamps to teach the Scouts how to pass the requirements for the BSA Stamp Collecting Merit Badge.
The same goes for Boys Town in Nebraska. They have a stamp collecting club as part of their educational and recreational goals.
Don in SoCal.
 

Top Member Reactions

Users who are viewing this thread

Top