1 Apart from the relative rarity of a stamp, a stamp′s value is determined by its condition.

The condition of a stamp refers to a stamp′s appearance, based on the quality of the image, coloration, gum, and perforation (which is preferably neat and complete). It is also based on the stamp′s area of cancellation and whether the stamp as a whole is clean and undamaged.

Mint stamps should have perfectly centered designs and vivid coloration, with original gum in good condition. Used stamps should have light and small cancellations (Fig. 1) and no fading or tears, with gum that is not discolored.

Mint stamps should have well-centered designs and intact original gum. Used stamps may have slightly heavier and larger cancellations.

Mint stamps may have off-center (but acceptable) designs or imperfect gum. Used stamps may have large, heavy or blurred cancellations (Fig. 2).