I have not gone over $5 so far. I am more particular about being able to collect stamps from different places that I visit, more than purchasing something of high value. I do know that there are people who are willing to spend hundreds or even thousands of dollars for a very rare stamp, but I don't think I'm at that level yet.
This can be a really expensive hobbie. I guess that's why my collection is so small. Not only do I not have the money for it but I'm also so anti-materialistic personally. Hopefully those of you with the money to invest have found it profitable.
If you collect for the historic or other non-monetary value its not really being materialistic I'm with you about not having money, and yes, it can be expensive. However, there are various forms of measurement and evaluating worth beyond monetary value
I think the collection can still get big even not spending a lot. Just like receiving stamps from friends and exchanging duplicates. And yes, some stamps can be priceless.
Most I've spent or traded rather was an old chainsaw that we found at a car boot sale. I had intended fixing it up and only paid £20 for it- but the value of it was much more than that- around £300 or so I was told. So I was happy with what I ended up with. Another fine find for my collection and repair costs, zero.
I paid $100 for a 3D stamp that I liked showing a javelin throw. I saw it in the album of a stamp collector and when he offered it I bought it right away. I have never paid so much for any of my stamps.
I think it's really a matter of knowing what you want and knowing what you're willing to pay. It can be very expensive nonetheless. Of course, if you're really patient, you may be able to get something inexpensive and wait long enough to make a good amount of money from it.
It's stuff like this that makes me wonder if it's worth saving some of the more interesting stamps that I come across whenever people mail me stuff. I often wonder if those will ever be worth anything... Thoughts?
Ask yourself a question are you in it simply as a hobby or do you want to make money out of it. If it is money then you might find it rather hard work
I remember seeing a stamp in the post office for like $30. is that common for rare or collector stamps? it seems a bit high to me.
The most I have spent on a stamp was one for my Nan, who is a very dedicated stamp collector. We went onto Ebay and bought what we thought was a "Penny Black"- a not so rare, but very expensive one. We payed only £75 for it, however that is a lot considering that when it arrived we only received a piece of paper with a picture of the stamp printed on it. We never did get our money back from that, however it does make us chuckle when we think of it.
Most stamp collectors are not investors, therefore the amount of money a person spends isn't the overriding factor for them. Everyone has a budget and the prudent thing is for a collector to stay within their budget, even investors have a budget. A lot of fun can be attained by joining a club, swapping duplicates and going to shows. Everyone has stamps they cannot afford and probably will never own. The joy of completing a set is the same whether it is just a couple of dollars or a couple hundred dollars.
Rare stamps can go higher than that. The price depends on various factors like rarity and status of the stamp.
I don't have the budget to spend more than a couple dollars on a stamp. I'd go as high as 5$ for a really nice one. The most I've spent to date on a single stamp was 3$.
I can understand how some can spend a lot on their hobbies, because that's their passion. They are doing something they love, and if there's extra money to spend, why not spend it on something you love?
