Stamps may be a investment alternative
Submitted by Stamps Blog
Written by Michael Vass
Not long ago I mentioned that collectibles are an alternative form of investment for some. It was an idea that few were familiar with. Since that time the Dow Jones Index has lost around 1000 points. So I decided to see what has been the outcome.
Barely a few clicks into my investigation and I found that a collection of rare British Empire postage stamps was recently put on auction in New York City. This auction of stamps came from Bill Gross, the founder of PIMCO – one of the largest money management companies in the world. So it would not be unfair to say that this collection of stamps was likely viewed as much as an investment as anything else.
The auction was of over 130 stamps. They ranged in time from the 1800’s to the early 1900’s. One of the most interesting of the stamps was an 1848 stamp, an unused 2 pence from Mauritius, which was sold for $85,000.
The entire stamp auction was organized to provide funds for Millennium Villages Project. The project develops health, education, agriculture and infrastructure programs throughout Africa. So the fact that $1.5 million was raised as a total of the auction is a great positive.
So it would seem that for some an investment in collectibles can be a reality and fortuitous. Still there is no mention of what price the stamps were purchased for, or how long they were held by Bill Gross. So take caution in looking at any collection for your future investment hopes. Stamp collection is a fun hobby for millions, and serious collectors are often unmotivated by financial means. Bill Gross might have sold the stamps at a loss for the benefit of the Millennium Villages Project.
Ultimately I feel that collections are best as efforts of the heart and not the pocket. But I had to check if there was another option out there. And it seems there just might be.
