Are stamps legal tender?

[fishtank]

Its a good business move....maybe to sell in a few months time when most stocks of stamps bought now are gone.... or in batches on E-Bay...

I'm not convinced it's such a good business move.
Buying in those quantities almost definitely means paying tax on the profits.
Having £250,000 tied up for 6 months also impacts on actual profit.
Large businesses do not use stamps so he will have to invest a great deal of time selling on,as i've already stated ebay and paypal both attract fees and his margins will be nowhere near 25%.
Mr Salmon is a well known and blatant self-publicist and the story is in the Sun so how much truth there is to it?.....
I think we will have to agree to disagree over this....i'm still out.

[CORTINA]

Fishtank...thanks for the chat.....

A final thought in these financial strapped times makes me think...

I wonder how many small shop keepers that sell stamps..have bought loads before the increase to sell in their shops..?

It must be legal ..with a bill of sale for their accounts.... or under the counter sales...

A 30% profit has to be tempting....for many people who have an outlet for stamp sales...card shops etc...

Car boot sales for other people.....

[fishtank]

Legitimate stamp retailers are on a fixed retailer commission of 3-7% depending on what kind of stamp it is.
Would i be tempted to "overstock" before the price change?
Probably...but i'm sure RM would be wise to it,legalities aside they have a contract with RM and if RM think they are profiteering at their expense they could simply pull the plug.

[CORTINA]

Legitimate stamp retailers are on a fixed retailer commission of 3-7% depending on what kind of stamp it is.
Would i be tempted to "overstock" before the price change?
Probably...but i'm sure RM would be wise to it,legalities aside they have a contract with RM and if RM think they are profiteering at their expense they could simply pull the plug.

Point taken...Have a good day.... BYE

[Lounge Lizard]

And if you bought 10,000 of them for 19p each in 1989 and sold them for 60p each next month, that's a £4,100 profit

[clashcityrocker]

Never mind buying stamps - the offer of a £1000 to cut up the kid's KKK uniform was brilliant.