Help! Lloyd's Philatelics???

Trish

Hi,
I purchased stamps from Lloyd's Certified Philatelics International, LLC as an investment. I know nothing about stamps.
The ones I purchased are:

* $2.00 Trans-Mississippi Exposition Stamp ($4950) unused
* 1c-$1.00 Trans-Mississippi Exposition Stamps ($9600) unused
* 2 sets Elvis Presley Imperforate Inverted Printing Stamp Pairs
($2900)

The phone no. of this company is no longer good. The company is located in Oceanside, CA.

I don't know where to go from here as I am hoping (if they are genuine) to sell them.

Thanks from Florida

dougwtx

A quick look from the Better Business Bureau shows an unsatisfactory rating. The ph# listed is 888-849-7567 and Mr. Glen Johnson as owner/mgr, addr is on E Vista Way. An alternative number listed is 877-494-6193 and 888-309-3963. The prices listed are overpriced. I doubt you will get no where near that when selling. Also if they are faulty, then its even less. Unused usually means no gum so the price drops more. Seems people have inquired about returns or their guarantee, but the company does not respond. I hope the Trans-Miss are not the modern reprints from 1998 which are only worth near face value at most.

Good luck.
Doug

Trish

Hello,
Thank you for your reply.
I made another purchase from Franklin Philatelics, located in Boulder City, NV.
Columbia exposition 1893 ($1350.) Another rip-off?

Should I contact the State Attorney's office about Lloyd's? Surely there is a solution.

Thank you for your time.
Sincerely,
Pat

dougwtx

Which Columbian did you purchase? IMHO, any outfit that sells stamps or coins as investments are rip-offs. The investor needs to be knowledgable in the investment before putting any cash down. Most stamps that are investment quality will have certificates from APS, PSE, or PF. This lets the buyer have more confidence that the stamp is geniune. Also PSE will guarantee the stamp as identified. Their graded stamps will also bring higher than cat returns for superb quality.

As long as the business is still around, the State Attorney General's Office would be a good place to start. If purchased by mail, you may be able to file a complaint with the USPS. If they are members of APS, then they may be able to help. I suppose Lloyd's and Franklin have clauses in their prospectus, if they had one, disclaiming that values will fluctuate and no guarantee you will profit. A place is free to charge whatever they want for an item. If thinking about doing future purchases as investments, you could always ask these boards first. It would help if you have a complete description and photo as stamps and coin values are driven by condition besides rarity. Unfortunately, there are many mail-order and "investment" firms that take advantage of people.

Doug

Trish

Columbus in Site of Land $1.00

I do not hAVE the abibity to get a pic online.
Thanks!

dougwtx

Pat,

Depending on condition of your $1 Columbian, the value can vary. Generally a mint-hinged with original gum will cat around $1400 and if it has no gum, then around $700 with very fine centering. A badly centered one can be worth around $110. Dealers may pay anywhere from around 1/10 up to 1/2 of that depending on quality. If you decide to sell, you would get the most by selling on an online stamp auction site. If you have a collection of stamps in this value range, then a professional auction company might be the best route. If the stamps are of high quality, it might be best to send them in for grading/certification and often those will return greater than cat values in auction if wanting to sell. If of lower quality, don't waste the money on grading fees.

Doug

Trish

Thank you, Doug. If I send them in to be graded. To whim do I send them? Are the fees high?

dougwtx

Pat,

At the top of this page, you should see a quick link to PSE. Their phone# is (877) 782-6788. You can request a submission packet. Do you have any stamp dealers nearby that you could visit? You may want to show the stamps to someone before sending them in. The fees are not too high, but if they are the modern reprints (I would hope no company would pull off that stunt though) or if it is damaged, then I would suggest not sending those in as a authentication cert and/or grading cert would probably not help in selling. Trans-Miss and Columbians are common and any dealer can give you an estimate. Things that downgrade stamps are thins, missing perfs, straight edges, tears as small as 2mm, off-centering, no gum, scrapes, repairs, removed cancels, creases/folds, and probably others I can't think of at the moment.

Doug

arfo

arfo

Let's try that again....I can help you track down Lloyd's and Franklin Philatelics, as I have dealt with "both" of them and I have spoken to others who have bought stamps from them. There's a reason why these companies are obscure to the stamp collecting community. I don't know what the protocol is for possibly contacting each other via phone or e-mail, but it would be worthwhile.

Other names of interest include Grand Continent Collectibles, Barrington Chase, Bookmark Collections, Lloyd's Certified Philatelics, Chamberlain Philatelics, Franklin Philatelics, Regency Classic, Midwest Marketing, Hampton Collectables, Hampton House, Windsor House, Monroe Collectibles, Set-in-Stone Collectibles, and others from the past, such as First Liberty Collectibles, Financial Frontiers, and Equifin.

Have you sent your stamps in for grading yet?

Trish

Hello Doug,
I just now read your last e-mail. Although I have requested a kit from PSE, I think I will try and locate local stamp dealers first, as you suggested. I have already submitted a complaint to the BBB on Lloyd's. At this point we are waiting for a response from Lloyd's.

My next step is going through my credit card to contact Franklin Philatelics. Then to to BBB. I will keep you informed.
Thank you,
Pat

Trish

I have not had these stamps graded. Until now,I have not had any uninterrupted time to devote to this.
I would be very interested in speaking with you.

Click on the yellow bulb.

Thanks,
Pat

XpipedreamR

<< <i>Click on the yellow bulb.

Thanks,
Pat >>








Actually, you want him to click on the little lock