I catalog autographs because signatures from important celebrities add to the values of otherwise ordinary certificates.

However, I want readers to understand that I do NOT intend to list every potential autograph. I will only list autographs that have enduring value.

See my list of ALL KNOWN AUTOGRAPHS. Autographs listed there are autographs that many collectors and dealers feel worthy of enhanced values.

I have certain core beliefs relative to including autographs in this catalog:

• I do not want to mislead collectors by listing autographs that have limited current or future values;
• I do not believe that certificates signed by minor celebrities are good investments ;
• I understand that reasonable people will disagree with my choices.

Not everyone who signed certificates was a celebrity and not every celebrity signature is valuable. Even among people who were genuine celebrities in their day, only a small percentage of celebrity autographs are worth significant values. It does not matter whether someone had the last name of a famous person.

Yes, I could include many, many more autographs.

Yes, I could s-t-r-e-t-c-h the definition of "celebrity" to make certificates seem more valuable.

Yes, I could include signatures from company presidents, locally famous stockholders, state politicians, and local trouble-makers.

But, here's the catch.

I decided years ago that I will only include autographs when they show enhanced values. Signatures may be rare, rare, rare! But if other collectors are unwilling to pay much for such autographs, I do not think I should list such signatures.

Don't forget, it's all about the money.

Signatures from major personalities – Harriman, Morgan, Gould, the Commodore, Carnegie – have enduring attractiveness and value.

On the other hand...

Signatures from minor, local celebrities have little value outside of a small number of specialists.

Signatures from individual company presidents may be important to collectors of single lines, but few other collectors seem to care.

Fourth- or fifth-generation Vanderbilts may have been valorous individuals, but their signatures may have limited value.

Yes, there are specialists who rabidly collect locally famous politicians, U.S. Senators, presidential cabinet members, university founders, philanthropists, and even brokers. Regardless of rarity,, long-term pricing records clearly indicate narrow interest. The narrower the interest, the lower and the spottier the prices.

Here are my concerns.

If I included every minor celebrity's autograph, I would be implying that those signatures have enhanced values.

I do not want beginners and intermediate collectors to feel deceived by the implication of value.

My philosophy is amazingly simple – – –

I use that philosophy to decide whose autographs to list and whose autographs to ignore. As much as I can, I try to condense that philosophy into three rules for listing autographs in this catalog:

• large numbers of collectors and dealers must recognize the person as famous;
• autographs must show wide collector appeal;
• autograph must be worth at least $10 more than the value of the certificates on which they appear.

Well-known celebrities always appear in:

• major biographies
• major biographical dictionaries
• major encyclopedic sources

	If a person is reported as a Civil War personality, he must appear in Civil War Dictionary by Mark Boatner. If Boatner doesn't list a person, then I will consider that person was as a minor character relative to the wide swath of the Civil War. Yes, I fully recognize that many unlisted individuals may have served in the Civil War and may have been locally important. You may collect autographs from those kinds of people, but I will not list them.
	Other acceptable references include Webster's American Biographies or Webster's Biographical Dictionary.
	Webster's New Biographical Dictionary is another excellent source for major Americans.
	Obviously, if people have been the subject of major biographies, then they will qualify as celebrities.

In the case of railroad executives, celebrities must appear as more than passing mentions in Cochran's Railroad Leaders: 1845-1890.

Encyclopedia Britannica is another good source.

Online sources are also acceptable, but the same rules apply. Scattered appearances on a few web pages does not make someone a celebrity. References must be numerous and diverse.

I have a very simple test for celebrity:

• If it is hard to find information about people who signed certificates, then those people were not major personalities.

Take Henry Oppenheimer, for instance. His signature is found on hundreds of B&O certificates from around 1900. But I challenge anyone to try to find out who that man was. See my December, 2004 newsletter for more discussion of Oppenheimer. While people are thrilled by his last name, Henry Oppenheimer does not currently appear to have been a celebrity.

Rule 2) Autographs of potential celebrities must show long-term, repetitive appeal to collectors.

To qualify, autographs must sell in multiple major auctions or must appear in many different dealers' price lists.

There are some crucial ideas to consider:

• Just because auction catalogs list items with supposed autographs does not mean those autographs are truly valuable. Nor does it mean those autographs sell.
• Just because eBay sellers chatter about "rare" signatures does not make those items either rare or valuable.
• Even if signatures sell for high prices one time does not mean they will have long-term, widespread appeal. Appeal must be long-term and repetitive.

Rule 3) "Celebrity" autographs must show collectible values.

There is a certain brutal truth that no amount of wishful thinking will alter. Please consider,

• If signatures are not worth $10 or $20 more than the certificates on which they appear, are those types of autographs valuable?
• Will they ever become valuable?

I will make THREE WARNINGS for beginning and intermediate collectors.

There are certain autographs I list with GREAT RELUCTANCE. I list a few autographs because they appear frequently in dealers' lists and in internet auctions. George Gould, for instance, was a minor celebrity in his day. He certainly had a famous last name. He squandered a lot of money. He made several crucial mistakes trying to emulate his father's exploits. However, even during his lifetime, George's brother, Edwin, was purposely obscure. Edwin was never a celebrity. However, many dealers list Edwin's autographs, so I must also. Let it be known that I list both George and Edwin Gould's autographs with reluctance.

NEVER collect autographs unless you know precisely why YOU must own them. Who cares whether an eBay seller tries to convince you that a particular autograph is valuable? So what? Why would you spend money on autographs if you don't genuinely want them for your collection?

I recognize that specialists collect autographs from hundreds of individuals who do not appear on my list. Such autographs may have significant local values. I have some myself. However, I understand very clearly that such autographs have limited value elsewhere. Remember, my goal is to provide a worldwide reference. Otto Mears is a huge name among Colorado narrow gauge collectors, but his signature is only sporadically valuable outside the U.S.

What about certificates issued to celebrities, but not signed by them?

Some people collect famous names on certificates, even though the celebrities did not sign them.

In general, I list such occurrences only when:

• celebrities were MAJOR PERSONALITIES and
• collectors have proven willing to pay extra for such certificates.

Again, I do not want to falsely imply value to beginners.

I beg you in the strongest possible way. Please buy autographs cautiously.