The value of your JFK and Obama newspapers

Next year will be the 50th anniversary of the assassination of President Kennedy. On that fateful day, newspapers around the country – some of them still afternoon papers– blared the story in big bold headlines.

Millions of newspapers were printed and sold, and families scooped them up to read every morsel about a shooting that was unbelievable. Many saved those papers as a reminder of that day and time, likely not thinking that someday they may be worth more than the few coins they paid for them.

Today, we have a far different mindset. We are inundated with TV shows alerting us to the value of items that we would otherwise have tossed away (some of us still do). These shows exhort us to collect and hoard them because they may be valuable. I’m sure that’s what many people had in mind when they snapped up newspapers about Barack Obama’s election as the country’s first black president in 2008.

I get questions pretty often from readers about what their newspapers are worth, so I decided to focus on that topic in this week’s Q&A. With the assassination anniversary coming up, I’m sure I’ll be getting more – and may possibly see fewer of these papers at auction.

Since I’m no expert on newspapers, I found someone who is. Timothy Hughes operates a website called rarenewspapers.com that sells historic newspapers. He’s been collecting them for more than three decades and serves as a consultant to organizations.

Here are his detailed answers about collecting old newspapers.

Question:

How valuable are newspapers (and magazines, especially Look & Life) from the Kennedy assassination in 1963? Were there so many printed that most are worthless?

Answer:

Collectors tend to prefer newspapers rather than magazines reporting the Kennedy assassination as there is more immediacy with newspapers. Magazines tend to report many days later events that were already reported in newspapers. Another benefit of newspapers is the dramatic headline not found in magazines.

As for value, although now nearly 50 years old they never will enjoy dramatic increases in value beyond their current $25 – $40 prices as they were saved by the tens of thousands back in 1963. A rule of thumb with any collectible: if it was saved by many, values will always be modest. It’s all a matter of supply & demand.

 Question:

Are some assassination newspapers more valuable than others (like the New York Times, Washington Post, Philadelphia Inquirer, LA Times or Dallas Morning News)?

Answer:

Serious collectors want newspapers from cities as close to the event as possible, so the holy grail of the JFK report is a Dallas newspaper, of which there were two: Dallas Morning News and the Dallas Times-Herald. The former reported the assassination in their November 23 issue as it was a morning newspaper (we sell for $195), and the latter in their November 22 issue, being the same day as the assassination – always a preferred newspaper and an advantage an afternoon paper has over a morning newspaper (we sell for $300+ when in stock).

Beyond this, the deciding factor is the drama of the headline. A “screaming” headline in large, bold letters will always be more desired than a modest headline with small letters, regardless of city from which it came. All things being equal, notable titles such as the New York Times or Washington Post are more desired than small town papers.

(From Sherry: Five copies of the two Dallas newspapers from November 1963 sold for $281 on eBay recently. One copy of the Dallas Morning News sold for $195. The cheapest assassination newspaper went for about $1. Many papers did not sell, and magazines were selling for less. Obama newspapers aren’t selling so well yet. Guess we’ll have to wait a few more decades.)

Question:

Suppose I live in a small town and saved those old assassination newspapers – which is the case for many people. Are they worth anything because it’s not a big-city paper?

Answer:

The size of the town where the newspaper was published is overridden by the dramatic effect of the headline. Collectors love dramatic headlines. A small town newspaper with huge, bold letters announcing “KENNEDY ASSASSINATED!” will trump a Chicago newspaper reporting “Death of the President.” Note also that collectors only want first reports of the assassination. Follow-up reports and coverage of the funeral have little if any collector value.

Also, complete newspapers are more desired than issues with sections missing. Front page-only newspapers command little interest by collectors.

Question:

Should families just throw out those yellowed, torn Kennedy newspapers that were not preserved because they’re mainly trash?

Answer:

Keep them if their condition is nice and if the headline is dramatic. If otherwise, feel free to line the bird cage.

Question:

A lot of people – especially African Americans – snatched up Barack Obama as President newspapers, probably for sentimental value. Will their children be able to cash in on them 25 to 50 years from now? Will they have to wait that long?

Answer:

It was our experience that huge numbers of newspapers reporting the election of Obama were hoarded by tens of thousands of people across the country, many buying hundreds of issues in hopes of reaping a handsome profit in a few years. Ebay was swamped with “Obama Wins!” newspapers for months after the election. Given the maxim that scarcity = desirability, this event will never be scarce, and in my opinion never be valuable.

Fifty years from now the collector market will still be flooded with thousands of issues being offered by those who hoarded for many years. Although the historic nature of the event cannot be denied, I suspect the quantity of available issues will always exceed demand. We live in a very collector-centric world; I doubt any historic event from recent history will ever be truly rare because there will always be a segment of the population who will buy huge quantities in hopes of a profit in the future.

Question:

Will 911 newspapers be valuable decades from now? How about ones reporting the killing of Osama Bin Laden?

Answer:

The historic significance of September 11 will never be denied, but again this event was hoarded by a large number of people so I doubt it will ever be “rare.” But it is worth noting that, with most newspapers being morning publications, reports of the tragedy typically appeared in issues of September 12. The few afternoon newspapers which still exist reported the event in their September 11 issue, in addition to some morning papers which printed an “Extra” edition on the 11th.

Since this event will likely always be referred to by the date, issues of September 11 will be desired over issues of September 12, and given the far fewer reports dated September 11, I would suggest holding on to those you have.

I believe issues reporting the killing of Osama Bin Laden will be of minor interest in the future. Issues with very large and dramatic front page reports will command a premium while others will likely be shunned by the serious collector.

Question:

How do you determine the monetary worth of the newspapers on your site? What’s the best places to go to determine a newspaper’s worth? rarenewspapers.com? eBay? Other places on the web?

Answer:

I’ve been a dealer in early and rare newspapers for over 36 years and all prices are based on the foundation of a free market system: supply and demand. This field is a very small hobby – less than a thousand serious collectors worldwide, while stamp, coin and other antique-themed fields have tens of thousands of collectors – so there were no benchmarks for values when I began many years ago.

If I offered a newspaper for $10 and twenty people wanted to buy it, I offered it too cheaply and raised the price the next time it was available. If I offered a newspaper for $50 and no one bought it, I lowered the price until it sold. Over 36 years of balancing demand with prices we’ve honed a very finely-tuned price structure for virtually every major event in world history reported in a newspaper. So the prices of our 10,000+ historic newspapers found on our website are realistically based on prior sales.

Given that collecting rare newspapers is a small hobby (bodes well for future growth once it “catches on”) our website: www.rarenewsapers.com is the only sales-based price guide to be found anywhere. Many offerings on eBay include pie-in-the-sky prices by those unfamiliar to the hobby which consequently never result in a sale, or perhaps offerings by people hoping to score a lottery-like winning sale to an uninformed customer.

Question:

How can someone tell if a newspaper with an 1865 publication date is a fake? Also, if it is an original, does that necessarily make it valuable?

Answer:

Reprints of historic events do exist, which is why collectors should only buy from reputable dealers who guarantee all their offerings are genuine. Most issues of the New York Herald of April 15, 1865, reporting the assassination of Abraham Lincoln are reprints and not genuine. As is true with any collectible, buy intelligently!

Question:

If someone wanted to start collecting newspapers, what’s the best way to get started? Any suggestions on what newspapers to look for now?

Answer:

Those interested in starting a newspaper collection should begin with what appeals to them. I always suggest this should be a fun & fascinating hobby, and not a portion of one’s retirement account.

Civil War buffs buy Civil War newspapers; political junkies like reports of presidential elections and inaugurations; sports fanatic buy reports of their heroes from when they were on the field; those intrigued by crime have the entire scope of history from the escapades of Captain Kidd and Blackbeard to the gangsters of the 1930s from which to choose.

The beauty of this hobby is that virtually any event of recorded history can be found in a newspaper. It’s the thrill of the search that intrigues the collector.

Question:

Would you even advise people to keep newspapers for monetary value? If they do, what’s the best way to ensure that the papers don’t turn yellow and tear to pieces at the fold?

Answer:

I do not encourage people to buy historic newspapers with the sole aim of reaping a profit in the future. Collectors should buy items which appeal to them and which they find fascinating, enjoyable to read, and which provide satisfaction like any other hobby. In reality many rare newspapers have appreciated dramatically in the last 10+ years but this is only incidental to the hobby. It should not be the reason for collecting.

We offer on our website protective folders for the long-term storage of newspapers. Beyond this newspapers should be kept away from light and high humidity. Newspapers of the pre-1870 era were made of a high quality, high rag-content newsprint and require very little care. Those printed more recently have a high acid content, wood pulp-based newsprint which tends to turn brown & brittle when not stored properly.

Question:

Tell me a little about yourself. How did you get started with old newspapers? Do you collect them? If so, what’s the oldest you have and the most valuable? What’s your favorite? Where do you find the newspapers you sell on your site?

Answer:

I’ve been a collector of rare & historic newspapers for over 36 years. I’ve always collected something, starting with coins when I was in grade school. I once collected books, bottles, radios, etc., etc., but a visit to a flea market in 1974 led to a fascinating discovery of an 1846 newspaper for $3. I was hooked. We still collect, trying to fill voids on our “major-events-in-history” check list. We also collect titles which are simply rare. Our collection goes back to the year 1533.

Our inventory has come from virtually every possible source, but ultimately the majority of old newspapers on the market today came from a library or other institution at some point. Many institutional holdings were discarded or sold many years ago when they switched to microfilm or microfiche as the storage method. Today, digital storage seems to be preferred.

As for value, I’m less concerned with prices which might be ascribed to those items we’ve held on to, but we do have a Philadelphia newspaper from July 1776 with a printing of the Declaration of Independence on the front page. I suspect it would keep me in bubble gum for the rest of my life if we choose to sell.