Investing in vintage postcards is not the most obvious choice when deciding on an alternative investment opportunity, as collecting old postcards has always been seen as quirky hobby first and foremost.
However, any ‘commodity’ that attracts enough enthusiasts means that a market for buying and selling is created and when you have a market, investors and speculators tend to follow.
While most collectors don’t really think of their hobby as a form of investment, some postcards have actually become quite valuable. In fact, the most expensive postcard ever sold fetched £31,759 at the London Stamp Exchange auction in 2002. It is believed to be the world’s oldest postcard and was sent in 1840 by the writer Theodor Hook to himself.
What’s the appeal of collecting vintage postcards?
The collection and study of old postcards even has its own term – deltiology. The term deltiology stems from the Greek world Deltion meaning a small tablet. It was coined in 1945 by Professor Randall Rhodes of Ashland, Ohio and has since become the common term for collecting picture postcards.
One of the leading exerts in vintage postcards is Jeremy Cooper who has spent decades building up a collection, which he started in the 1960s when visiting churches throughout Italy.
To him, postcards were reproductions of famous artworks, an inexpensive way of owning miniature masterpieces and he has spent the intervening years collecting postcards by contemporary artists from Yoko Ono to David Shrigley. Some of these ‘artworks’ are reproduced postcards, while others are originals; and these classic postcards have become works of art in their own right.
However, for most collectors, the appeal of vintage postcards lies in the sense of nostalgia or historic value that they give. They capture a place from their past, or a time from which they have happy memories perhaps, but they can also illustrate meaningful, historical events.
Personally, I love old black and white postcards from the area of north London that I lived in, and to see how the neighbourhood has changed over the years. From the distinct absence of traffic to the way in which people were dressed and the recognisable architectural features that remain in place to this day.
As a collector, if you are prepared to put in the research and build up your knowledge, you might learn to identify popular postcard buying trends and over time build up a valuable collection.
Building a collection
According to Barneby’s, a leading search engine for art, antiques and collectables, the more collectable postcards tend to originate from the early 20th Century.
In general, postcards issued after 1960 have little or no value so it would be very helpful to get an idea of its age when making a purchase. If it’s a ‘sent’ postcard, then the postmark (if it’s legible) will obviously provide a very good indication of the date. So too will the size: 5 by 3-inch postcards only really became popular after the 1960s.
Real photographic postcards which are printed direct from the negative can be quite valuable especially if they come from what collectors call the ‘golden age’ of postcard production in the 1920s and 1930s.
Depending on what they depict, individual cards could sell for between £20 and £100. A photograph of a significant event, such as a protest march by the Suffragettes could cost £100 or more. Their value could be further enhanced if they are part of a collection.
Printed and coloured cards, on the other hand, were mass produced on a printing press and therefore lacked the definition of real photograph cards. They are much more common and are unlikely to command meaningful prices.
Foreign postcards tend to be rare in the UK and attract quite a bit of interest especially in areas such as China and the Far East which are just beginning to open up. Locations such as the Pacific islands where postcard production was quite limited can also be valuable.
In general, it is difficult to identify a coherent collection theme. Postcards are as sought-after for their aesthetic appeal or comic value as much as the era from which they emerged. For example, in some cases the post marks can add value, if the card was sent on a specific day in history.
The rules of buying vintage postcards
Many people equate deltiology with stamp collecting and it is easy to see why the comparison is made. Quite often both depict historical events or locations, both were mass produced and they each have something of value to collectors.
However, postcards cannot be traced back to their original issue in the same way as stamps. Instead, people tend to focus on collecting postcards featuring specific artists or celebrating a specific location or event.
The general advice when collecting anything associated with the art world is to buy something you really like, that resonates with you in some emotional way. Collecting vintage postcards is a hobby first and is about the enjoyment that is derived from owning them.
Getting involved in the world of collectable postcards is quite affordable. With the exception of unique and very rare postcards of specific historic value, individual postcards can be purchased for between £1 and £100. It is a relatively easy way to slowly build up a collection which may be valuable at some time in the future.
The online appraisal experts – Value my Stuff – provide a very useful postcard valuation tool which requires you to upload a photo of the postcard and that can be accessed here.
How to judge the quality of a vintage postcard?
The condition of the postcard you buy will be very important. Postcards are graded in the following ways:
Mint condition: Perfect condition, as if you’d bought them new at the time.
Near mint: Very close to perfect but showing slight signs of wear.
Excellent: It can be used or unused, but the condition must be pristine with very few obvious signs of wear and tear.
Very good:Close to excellent condition with clear images, but the corners might be a little rounded.
Good: There are clear signs of wear, with blunted corners, but the condition is still good enough to make a decent addition to a collection.
Fair: The postcard is intact but with post marks and writing on it. However, it is still good enough to collect and if it’s rare, it may have some value.
Poor: An image which has been seriously affected or a card which has been damaged. It is normally only useful as a space filler.
Where to buy
There are a number of different outlets where collectable postcards can be purchased:
1. Auctions
Many vintage postcards are sold at auction. Some houses will also provide a free valuation service such as this one from Warwick & Warwick which specialises in auctions of collectables.
2. Postcard collector fairs and clubs
As with other collecting hobbies there are lots of events and fairs where you can meet people, talk to experts and buy old postcards. You can find a list of postcards here. There are also a number of clubs around the country which can also provide an opportunity for new collectors to immerse themselves in their hobby.
3. Old postcard dealers
There are a number of dealers who specialise in rare and collectable postcards. These can be a relatively easy way to find an interesting addition to your collection. However, dealers tend to add a considerable mark-up which could make it difficult for you to generate a profit should you decide to sell it on.
4. Postcard exhibitions
Rare postcards are developing a reputation for themselves as valuable artworks. The number of postcard exhibitions is growing and these can be a good place to find unique postcard examples.
Tax implications
For tax purposes, a postcard is considered a chattel or personal possession and therefore the disposal of any postcard or collection will be exempt from capital gains tax when the price achieved is less than £6,000.
However, if you do find yourself buying and selling postcards in greater quantities and with increasing frequency, HMRC may determine that you are running a business. If so, you will be required to register as a self-employed sole-trader with HMRC or set up a limited company to trade through.
Anything else to consider
Having built up a collection of postcards, it is important that the collection is protected and stored in a proper manner. Specialised albums which contain archival or inert plastic sleeves (originally designed for holding rare banknotes) can be purchased to store them. To avoid damage or discolouration, the postcards should be kept away from direct light, heat and moisture.
Further information
There appears to be a high degree of crossover between the stamp collecting community and the postcard collector enthusiasts. It is worth seeking out any forums or message boards where you can seek advice or guidance on your hobby (investment) or be alerted to any fakes or stolen items in circulation.
