Marking or overprinting the stamps

Should the stamps be marked or overprinted with "NPM" or "Specimen" or "Smithsonian" or something similar? This is a remedy that has been suggested by a number of people as a way to release all of the stamps while "protecting" the owners of valuable stamps that stand to be impacted if all the stamps are sold.

My reaction to this is that it must not be done. It is just another form of destruction that would greatly impact the value of the stamps.

First is the cost of marking the stamps. There are probably at least 100,000 sheets of stamps in various perforations and roulettes, so this will be a rather expensive process.

Second, how does marking the stamps impact the value of the stamps? The museum originally estimated that they could obtain between $1 million and $2 million dollars for the stamps. Frankly, the holding is worth more, as it is. Marking the stamps will reduce the market value of the stamps considerably downward to the point that there will be minimal dealer support for them in the marketplace. In essence, they would be a drug on the market, assuming the museum, after spending the money to mark them, could even recover the cost of marking the stamps. Since the goal of the museum is to raise money, why take a step backward by marking the stamps?

Let's face it, if the stamps are to be sold successfully, it is going to require support of the dealers to make a market. With the quantities involved, it is important for a healthy market to be established and that means the stamps are going to have to be saleable at a profit. If not, the dealers will abandon that market and go where he or she can earn a living.

We are all stamp collectors and/or dealers and it is in our own best interests that a strong and healthy markeplace exist for our stamps. The museum is going to sell the stamps and we are going to feel the impact. It is unavoidable. But if done properly, it can be a very positive situation for all of us. Destruction of stamps and manipulation of the marketplace to benefit the museum is not in the best interest of philately as a whole. Organized philately, through the American Philatelic Society, can and should send the message to the National Postal Museum that since they are going to do something that is going to impact us, it should be done in a manner that will benefit all of us in the long haul. This means no destruction, no manipulation of the market, and no marking of the stamps.

On the rare stamps that stand to be impacted in a big way, those in collectors hands are in used condition. The museums stamps are in mint condition. Those rare stamps will always distinguishable from the museums stamps because they are "marked" by a cancel. It is unknown how the market will treat the used stamps when they come on the market, but in my opinion they will trade at a good premium over the mint stamps. But here is something to think about: If you are the owner of the unique used RE182D, is it going to make any difference to you if there are 50,000 mint copies of the stamp in the market or 50,000 marked mint copies in the market? Marking the stamps protects nothing.

I own a very large inventory of stamps that includes a number of stamps that will be impacted downwards in value when the stamps are released. I probably stand to lose as much, if not more, than any other individual. Financially, in the short term, I am better off if the stamps are all destroyed and never come on the market. But long term, I believe the interest in revenue stamps can be increased substantially and all of us who currently own large holdings of revenue stamps will benefit in many ways, including financially.

The philatelic market is a resilient market. Large hoards coming to market disrupt the market in exciting ways, causing attention and bringing new collectors into the fold. Let the market work and we are all winners.