Is it Trash or Treasure? And What's the Worth? by Peter Rexford on Creators.com

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Is it Trash or Treasure? And What's the Worth?

All over the news last week was one of those, "Wow, if only it were me" stories. It involved a woman in Louisiana who purchased a painting at a garage sale for $2. Admittedly, the painting isn't my cup of tea — sort of a cubist/abstract look. But who cares? After she bought it, the name "Picasso" was found to be painted onto it.

The FBI now has it and confirmed it's not on a list of stolen artwork. If genuine, the value would naturally be in hundreds of thousands of dollars or possibly more.

The seller was reportedly distraught at the prospect of having sold an invaluable piece of art for next to nothing. But it all may be moot as reports are now trickling in that the painting is probably a reproduction. Whichever way it goes, it always makes sense to check out anything in question. You never know if you have an item of great value or simply a novelty.

That brings us back to my continuing recommendation of possible holiday gift ideas for a collector you may know. This time, it involves some reference guides that can tell you if you may have a fortune or a flop.

The first is one of the best books I've seen for intermediate to advanced coin collectors. It's a substantially expanded version of the familiar "Guide Book of United States Coins." Also known as the "Red Book," this is the professional edition. In large format, the 384-page volume showcases every U.S. coin type enlarged in full color.

Moreover, additional information includes population reports for every date and mintmark, auction records, key varieties (which can make an ordinary looking coin worth a small fortune), a detailed primer on modern counterfeit coins, research on coin types and grades, and more. It is the most complete guide to U.S. coins available.

The book is not meant to replace the original Red Book, which can be found in most bookstores, but designed for serious collectors.

Even so, the information inside can help anyone determine if they may own a true rarity.

The "Guide Book of United States Coins — Professional Edition" retails for $29.95 and is available from hobby dealers and major booksellers nationwide. It can also be obtained directly from the publisher at www.WhitmanBooks.com.

The same is definitely true for vintage postage stamps. Say you find a used 90-cent stamp from the late-1800s between the pages of an old book. If it was produced in 1869 and has an image of Abe Lincoln on it, the value — even in used condition — can be as high as $2,500. But what if that same stamp is on an envelope? Then, the value skyrockets to $375,000. The latter value is because only one of those stamps is known to exist still attached to an envelope and recently sold for just that price. So, how do you find out about this stuff?

The "bible" for stamp values has long been the Scott catalogs. There are seven volumes that cover virtually every stamp ever issued by all countries. For U.S. stamps, the "Scott Specialized" catalog is the most comprehensive resource. It covers everything from regular postage and commemorative stamps to revenues and even embossed stamps from the colonial era when the "Stamp Act" helped foment the Revolution. Best of all, detailed full-color photos showcase each stamp.

At $79.95, the catalog isn't cheap. They are available from most major hobby shops, however through a program called "Amos Advantage" purchasers can save $20. The trade-off is subscribing to one of the Amos Press hobby magazines or newspapers. It turns out to be a good deal that saves even more — certainly something to consider for the collector on your list.

For more information on the catalog and the discounts, call toll-free 1-800-572-6885 or go online at www.amosadvantage.com.

Editor's Note: A JPEG visual of the new "Guide Book of United States Coins — Professional Edition" has been sent with this column.

To find out more about Peter Rexford and to read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate Web page at www.creators.com.