We can remember a trip we made to visit the stamp dealers on Yonge Street in Toronto as a young collector. Their showcases highlighted the best they had to offer and we were delighted to see such excellent stamps.

But our delight was somewhat crushed as we surveyed the prices. They were well above catalogue. Some were two times catalogue, others four times and even ten times. We looked at the dealers behind the counters and would have had them arrested if we had the power.

Little did we know at the time about what the prices should be for investment grade stamps. It was only when we began to keep track of the prices realized at auction that we appreciated how very scarce some of the Canadian stamps truly were, even the low value ones, and consequently how fierce the competition would be to obtain them.

But nothing prepared us for some of the prices we have seen in the U.S. market. At the end of this commentary we give an example we came across recently. We have no way of verifying this information, but, knowing the auction firm involved, we have no reason to doubt it either.

What follows is a number of examples of extraordinary prices paid over the past 5 years for investment grade Canadian stamps. Next comes the above mentioned U.S. example that makes the Canadian ones look tame.

The Canadian Experience

Classics

Charles G. Firby Nov. 1, 2007	Colonial Stamp Nov. 15, 2007	Eastern Auctions Mar. 1, 2008
Lot 29 Scott 4ii Catalogue $400 Realized $2,137	Lot 350 Scott 1 Catalogue $950 Realized $6,615	Lot 1194 Scott 15 Catalogue $450 Realized $2,500

Eastern Auctions Mar. 1, 2008

Lot 1199 Scott 17b Catalogue $900 Realized $5,250

Large Queens

Spink Shreves Galleries Jan. 29, 2009	Shreves Philatalic Galleries Apr. 12, 2007
Lot 990 Scott 21 Catalogue $100 Realized $1,220	Lot 1626 Scott 29 Catalogue $75 Realized $1,661

Small Queens

R. Maresch & Son Mar. 2, 2004	Eastern Auctions Jun. 14, 2008	Spink Shreves Galleries Jan. 29, 2009
Lot 1915 Scott 34 Catalogue $9 Realized $220	Lot 456 Scott 36e Catalogue $1,800 Realized $4,000	Lot 1047 Scott 38 Catalogue $925 Realized $5,490

Charles G. Firby Jan. 24, 2004	Shreves Philatalic Galleries Apr. 12, 2007
Lot 239 Scott 44 Catalogue $90 Realized $1,572	Lot 1624 Scott 44b Catalogue $180 Realized $986

Other Sets

H. R. Harmer May 22, 2008	Shreves Philatelic Galleries April 12, 2007	Eastern Auctions Mar. 1, 2008
Lot 2097 Scott 53 Catalogue $45 Realized $470	Lot 1697 Scott 75 Catalogue $45 Realized $458	Lot 1304 Scott 76 Catalogue $60 Realized $425

R. Maresch & Son Feb. 28, 2006	R. Maresch & Son June 17, 2008
Lot 2491 Scott 89 Catalogue $37 Realized $380	Lot 842 Scott 97 Catalogue $47 Realized $525

Note: The above catalogue prices are those that were in effect in the year of sale. The prices realized for the auctions that took place in the U.S have been converted to Canadian dollars at the exchange rate prevailing on the date of sale.

Please click here if you would like to see our 10 year list of prices for over 800 investment quality Canadian Stamps

The United States Experience
(Figures below are in $U.S.)

Spink Shreves Galleries January 29, 2009

Lot 287 Scott 236 Catalogue $215 Realized $19,000

As a general rule, we do not review the prices realized for U.S. stamp auctions and only came across this unusual price by chance. But once we saw it and realized it was not a typo, we couldn’t get it out of our mind, it was so extraordinary. It is possible U.S. collectors will tell us this happens all the time but we doubt this.

The people at Spink Shreves would certainly get passing grades for their use of flowery English when you look at the description of the stamp shown below. They heap superlative upon superlative. And who can blame them, as they go on to explain that a year ago an even better copy sold for $47,500. Perhaps someone will write to advise us that we misunderstood the whole thing, but until then we will accept things at face value and just marvel at what we have seen.

Here’s how they described the stamp:

"8c Columbian, an incomparable mint example of this value, which is widely regarded as the most difficult of the lower denomination Columbians to find in true gem quality, this spectacular copy even surpasses the gem category, being one of the very finest in existence, boasting perfect centering amid gigantic jumbo margins unlike any other one can imagine, brilliantly fresh as well, with sumptuously rich color on bright paper, immaculate o.g., never hinged, superb; a breathtakingly beautiful Eight Cent Columbian; 2001 PF certificate and a 2007 PSE certificate (Superb 98 Jumbo; SMQ $9,100.00 for 98); this is the sole example in the PSE population report to receive this exalted grade, with the only higher example being the phenomenal 100 Jumbo that was in our September 2008 auction of the Westchester Collection, where it hammered down for $47,500, plus the buyer's premium."

Well done, Spink Shreves!