Warren Buffett’s Favorite Stamp
Pictured is a stamp that young Warren Buffett and a friend tried to corner the market in. If you knew Warren in the 1950s, much of the mail he sent out was franked with these stamps. It was one of his rare unsuccessful investments.
Collecting stamps is a hobby for millions of people and an investment for a small number of them. I personally do not recommend investing in stamps – rare or otherwise, but I highly recommend collecting them as a hobby.
My main philatelic hobby activity is collecting first day covers, with the chance of any return on my expenditures being very little, if anything. I collect because I like it, have many hours of pleasure, relaxation and camaraderie when I attend stamp shows and club meetings and talk to fellow collectors in my specialty areas. Very few hobbies provide a monetary return and none is expected, yet, there are many hobbies people engage in. Stamp collecting is a hobby, not an investment activity.
For fellow collectors or the curious, there will be a meeting of the Collectors’ Club on Wednesday, Nov 6 from 5:00pm to 7:00pm at 22 East 35th Street, New York City. The meeting is their annual members’ exhibit where 20 members show their stuff in 16 page frames. I will be exhibiting there for the first time showing my first 14 years of collecting covers. My blog readers are invited to come as my guest to the meeting. Afterwards, we will go Dutch treat to a local Italian restaurant. If you want to join us, please let me know. I will need to know a few days earlier so I can include you in the reservation at the restaurant.
In any event, if you think you want to get started in stamp and first day cover collecting, send me an email with your mailing address and I’ll send you some first day covers and a mint copy of Warren Buffett’s favorite stamp. [email protected]. This offer will expire when my supply is exhausted, so send for them soon!
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