The Blue Chip Stamp Company has been around since 1922, making it one of the oldest stamp companies in the world. Their extensive experience has allowed them to collect and preserve a vast array of stamps from various countries and eras.
With a collection that spans over nine decades, the company has managed to gather over 1 million stamps, including rare and hard-to-find issues. This impressive collection is a testament to the company's dedication to preserving the past.
The company's expertise in stamp collecting has also led to the creation of a comprehensive catalog that lists every stamp they have in their collection. This catalog is a valuable resource for philatelists and collectors looking to learn more about specific stamps and their history.
Stamp Collection
Stamp collecting is a fascinating hobby that requires patience and attention to detail. Many people start collecting stamps as a child and continue into adulthood, with some even turning their hobby into a career.
One of the most valuable stamps in the world is the 1856 British Guiana 1c Magenta, which sold for $9.5 million in 2014. This stamp is extremely rare and highly sought after by collectors.
Stamp collectors often focus on specific areas of the world, such as the United States or Europe. The blue chip stamp company has a vast inventory of stamps from these regions, including many rare and hard-to-find varieties.
The condition of a stamp is crucial to its value, with mint condition stamps being the most valuable. The blue chip stamp company has a team of experts who carefully examine and grade each stamp to ensure its authenticity and condition.
Some collectors specialize in topical stamps, which feature specific themes such as animals or sports. The blue chip stamp company has a wide selection of topical stamps that are perfect for collectors with unique interests.
Legacy and Nostalgia
Blue Chip Stamps was a presence in California during the late 1960's, a time when our family moved to the state from Ohio where S&H Green Stamps had a significant presence.
The company's trading stamps were widely available at gasoline service stations and supermarkets, making a nice business for Blue Chip and S&H.
As gas stations competed for business, they started offering multiples of stamps on purchases, resulting in a lot of stamps being collected by customers.
In 1970, Berkshire Hathaway began investing in Blue Chip, eventually purchasing the company.
By 1970, Blue Chip had sales of $126 million and customers had collected around 60 billion stamps, which were then taken to redemption stores.
Some businesses, including certain brothels and mortuaries, even gave out stamps as a form of loyalty reward, a practice that Warren Buffett found intriguing.
The trading stamp business had similarities to insurance companies, with cash flowing in from retailers without significant expenses until customers traded in their stamps.
However, the trading stamp business ultimately didn't last, but Berkshire Hathaway still made a nice return on its investment in Blue Chip.
Frequently Asked Questions
Are blue chip stamps worth anything?
Yes, Blue Chip stamps still have value and can be redeemed for $1.80 per full book as of February 2024. If you have a collection, it may be worth exploring their current worth.
Why did Buffett buy blue chip stamps?
Warren Buffett acquired Blue Chip Stamps to gain access to capital and assets at a discount, improving the deal's economics.
What were blue stamps used for?
Blue stamps in War Ration Book Two were used for purchasing canned fruits, vegetables, soups, juices, and other processed foods.
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