A very important component of learning how to interpret a stamp catalogue is to read the introduction. Most, if not all stamp catalogues, include a foreword/preface/introduction at their beginning that explains the whole kit and caboodle, (abbreviations, icons, what the catalogue contains or doesn't contain, how valuations should be applied etc.)
Their are four major catalogues in use around the world for valuing Australian stamps. In Australia, the most common catalogue used by collectors is Great Britain's Stanley Gibbons Stamp Catalogue. In America, it is the Scott Standard Postage Stamp Catalogue, France uses Yvert & Tellier, and Germany uses Michel.
Nearly all stamp catalogues list stamps in chronological order with a picture of each major type, with each type of catalogue having their own unique running catalogue index number. The stamps are usually listed in complete sets, with information like the topic, date of issue, watermarks, perforations etc.
Values are given for mint and used copies with the mint values given on the left column and used given on the right column. Most catalogues give a third value for mint hinged for older stamps. They may also include values for stamps still on their cover, First Day Covers, complete sets etc. Some catalogues even include values for varieties of the same stamp, such as watermarks, paper-type used, printing methods etc.
A simplifed stamp catalogue gives beginning collectors the opportunity to determine the current value of their stamps at the time of the catalogues publication. A simplified catalogue is not a specialised catalogue and does not provide information on perforations, methods of printing, watermarks, varieties etc. What it does do is provide realistic, up to date and accurate values based on information gained from a combination of price lists published by stamp dealers, auction realizations, advertisements and prices actualized through established stamp dealers.
The minimum values in catalogues represents a "cost of doing business" handling fee charged by dealers to maintain and supply a single common stamp without faults, rather than reflecting the scarcity of the stamp itself.
When valuing your stamps using a catalogue, remember that values given are an estimate if you bought each stamp singuarly, and are the price you could expect to pay for a very fine example.
A popular simplified catalogue used in Australia, and available from most Australia Post Shops, is "Stamps Of Australia. The Stamp Collector's Reference Guide" Published by Renniks Publications. This reference gives the values of Pre Decimal stamps in MUH (Mint undamaged and never hinged), MLH (Mint undamaged but lightly hinged), FU (Fine Used with clear, light, round cancellations and full perforations. Decimal stamps are only listed as MUH or FU.
This image is an example from the simplified Australian catalogue mentiond above.
