"Stamp Game"

[sisco50]

"PIPS is dead, but I've just found what might actually be the largest Ponzi schemes ever, by a large margin.

Take a look at this Financial Times article:

http://www.thinkfn.com/forum/viewtopic.php?t=2727


Maybe we ought to get together and try to take on this one. I'm already onto it. 5000 million Euros ... and scamming 3 million or so per day. Huge, with hundreds of offices."

The above cut and paste was taken from the TG forum. The subject matter is very interesting for those following these types of programs. Incognitus seems to think it is the next big one coming down the pike. :) Stamps and a ponzi just seem to go together. lol

[jokach]

Hmm, investing in stamps, I think your right that that Ponzi and stamps just go together ever since Charles Ponzi got in trouble back in the 1920's.... :)

jokach

[SANDSTER]

At least when the stores were giving out Gold Bell and S&H Green stamps
you got something for your money heh?
Sandster :bow:

[Dreamer]

Stamps are interesting. Unfortunately, that is what I did for like 5 years out of my life. I was in the "collectables" business where alot of people put their hard earned money buying crap hoping they will increase in value. I wonder if they were the same people what would buy stocks and bonds as collectables, since they dont know what the difference between a collectable and a true investment.

A quick diversion to baseball cards, since I think it shows what they are talking about being the case. If a card has a price guide value of $50, that means it sells for an average of $50. Some places might sell it for $25, if the player isnt hot there, or part of the rivals team there, and some places might sell it for as much as $75 or more, because he is the local hero, or was born in that city, etc. So, a price guide is just an estimate of what u can expect to pay for a card if u bought it at a store.

But, thats an ungraded card. The grading card industry is such cut throat, that that $50 is about the price of an 8.5 or a 9 out of 10 graded card. Now, if its a 9.5, it might fetch $120, and if its a perfect 10, it might fetch a couple hundred or more. Of course, it also depends on who graded the card and the confidence of that company.

Now, for stamps, condition plays a major role in it. Is the gum still on it? How many sides is it perfereated? Does it have some of the master block on it (if its a sheet of 20 stamps, is it just the stamp, or part of the outside perimiter?) If it has part of the master block on it, does it have a number on it? My boss had this set of 3 stamps with the block still on it and the numbers on that, and the stamps seperatly were face value...like $.25 or whatever. That set of 3 stamps is worth $500 in that condition.

So, its possible its legit. However, when you use collectables as investments, u r making a mistake. The price of stamps and baseball cards flucuate monthly. And, if u bend that $500 stamp, u lost most of its value since its no longer in mint condition.

Personally, I never got involved in collecting stamps. I collected coins, my brother collected stamps. I found it to be a boring hobby, but its kinda interesting.