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I Still Like Stamp
Here's the story behind the biggest stamp find of recent times by the
Maybe you remember me. A couple of
months ago, I bought some Dag Hammar
skjold commemorative stamps and found a
printing error that made them, worth an esti
mated $500,000.
Overnight I became the world's most famous stamp col
lector. Then the United States Post Office did something
never done before in the history of philately: it deliber
ately flooded the market with misprinted stamps. My rare
stamps were still worth more than 4 cents apiece
but not much more.
"What a hobby!" I told my wife Roslyn. "I quit! I've
skipped lunches to buy stamps, and you and the kids have
gone without things just for my hobby. And when the
97-million-to-l chance comes along and I find a rare stamp,
they change the rules in the middle of the game!" '
So I quit collecting stamps. I'd gotten into it five years
ago when my two oldest boys joined the Scouts. Roz and
I decided we weren't going to ask other people to help raise
our children we have five boys so I became assistant
scoutmaster and Roz a den mother. As Cub Scouts, Larry
and Bobby had to start some sort of a collection.
"I like stamps," Larry said. "I get to know geography
and history and famous people and I like the colors." I
shrugged what difference would it make?
I bought them a cheap album, and every time I had some
extra pocket money I'd pick up some stamps for it. Gradu
ally I began to feel the romance of stamp collecting. I'm
a guy of ordinary education who has never been far from
New Jersey and, by headline standards, have never done
much. But with stamps, the whole world opened up to me.
I started collections of U. S. commemoratives, U. N. issues,
and Israeli and other foreign stamps.
"You're wasting too much time and money on stamps,
Len," my wife would say. I couldn't argue about the time
I'd visit post offices once or twice a day and spend evenings
poring over my buys. But I had a good argument about
"wasting" money:
"Stamps are your insurance policy, honey. I can't get
regular insurance because of my bad heart. But these
stamps increase in value every year. They're like a trust
fund for you."
"Why not sell some now?" she asked.
I shuddered. A dealer sells. But a collector collects
nothing more. When you hear that a fine stamp collection
is on sale, you can bet the owner is either bankrupt or dead.
My collection would provide security for my family but
only after I couldn't provide it myself.
IN TIME, I found rarities and made good buys. Among
others, I have plate blocks of 8-cent stamps for which
I paid 32 cents; they are now worth 11.25. I have a plate
block of 3-centers which cost me 12 cents and now sell for
75 cents. Figure that out on a percentage basis and you'll
see that philately is fun and a good investment
But for me it was just fun. I still remember the day
John Glenn made America's first orbital flight I was
watching television when they announced the Post Office
had put on sale a special astronaut issue. I jumped out of
U rmUv Wttkty, January 13, 19tl
By LEONARD SHERMAN
as told to lack Ryan
I
W r hi
Sherman holds Dag stamps that almost netted him a fortune.
my chair a first-day issue to coincide exactly with an
historic event! I called my friend Stan Sussman, a collector
himself, and we camped at the post office until 11 p.m.
making up first-day-of-issue envelopes. We figure our par
ticular cancelled 4-centers are already worth $1.25 apiece.
But the really big kick was in being in on that great
moment personally.
Something like that comes rarely, so months later when
I was studying my sheets of Hammarskjolds I wasn't ex
pecting another bolt of lightning. But there it was. A line
of white ran through the yellow and tan of the stamp; the
4i lettering should have been white but was yellow; the
yellow had been printed upside-down. An inverted printing
the first in the U. S. since 1918!
"Roz! Roz!" I yelled and began babbling like someone
who has had a dream come true.
"How much is it worth?" Roz asked, practically.
I had no idea, so I called Stan. "The only way to learn
that is at an auction," he said. "Supply and demand de
termine the price. But it should be worth a good price."
Collecting!
collector who lived its triumph and its heartbreak
We had no idea of its real worth, and I
was so fascinated by having such a rarity
that I couldn't do much but study it for
days with Stan. Then a news story broke
from Cuyahoga Falls, Ohio. A collector
there, Gerald Clark, also had bought an in
verted sheet. He had only 19 left, however,
when he discovered the error. Even so, he
had an estimated $200,000 worth of
stamps. When the newspapers learned I
had a sheet of 50 in mint condition well,
I was off on the tail of a tiger.
I was answering telephone calls from
Honolulu and replying to letters from West
Germany. People with worthy causes asked
for "just one stamp you have so many"
or wanted me to buy their "rare stamps."
But most of the thousands who contacted
me did so just to wish me well.
I LIVED in a collector's dream and night
mare. Sure, I had the find of a life
time, but I couldn't keep it. The Sherman
family simply couldn't afford to keep
stamps like the Dags. I had to assure my
five boys of a college education, and Roz
had skimped on herself and the household
too long. And. there was that insurance
business, too no, this time I'd have to sell.
A newspaper reporter called then and
told me the Post Office had just ordered
millions of misprinted Dags to prevent
"speculation."
"You must have that wrong," I said.
"Misprints are a part of philately, and no'
government has ever commemorated a
mistake . . ."
But he cut off my lecture on the history
of stamp collecting because it no long
er held true. I tried to get an injunction
to stop the Post Office from devaluating
my stamps. It was a race against time.
While the legal mills ground slowly in New
Jersey, the presses in Washington worked
overtime. Finally I got my injunction and
halted the misprinting but only after
some 350,000 inverted Dags had been
rushed to the postal windows.
I had lost lost thousands of dollars,
15 pounds, and a hobby. "Look," Stan told
me, "you've met some great people. You've
had plenty of excitement and you still
have your stamps. They're authenticated
original misprints and still worth some
thing, yet not so much that you have to
sell them right away."
"You go on collecting," I told Stan. "Me,
I'm through."
Three days ago I was driving past the
local post office. Well, I thought, I do need
that new block of U. S. Education stamps.
After that I'd put the albums in the base
ment. Two days ago I went back to buy
$5 worth of U. S. commemoratives.
"I'm back collecting," I told Roz. "I
don't know why, but I am."
"Good," she said. "Now we're back to
normal."
I was up until 2 this morning with the
new stamps. They are fascinating. They
made me realize that there is one thing
nobody can take away from a stamp col
lector or anybody with a hobby the sheer
love of it
, ' V , ---- -- 2 - - - -
127279
Misprint shows clearly when photographed through filtered lens.
Family Werkly, January 13. IK
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