To me personally it is better with an address as that means (hopefully) it has actually been postal used, rather than just had the first day cancel done by the post office and handed over to a dealer or individual without going through the system.
However I have noticed that these days people seem to prefer no address on the envelope.
For postal history covers, address is almost always preferred. The sender, recipient, transit, and contents are all-important.
A lot of people prefer First Day Covers unaddressed. So modern addressed FDCs are worth next to nothing on the wholesale market. I don't actively collect FDCs any more, but the last time I bought a wholesale lot of modern FDCs, it was 2000+ mixed addressed/unaddressed for $22. And the lot was actually mostly unaddressed. I can tell you right now that I was basically paying for the unaddressed FDCs, and yet it was still roughly 1¢ a cover.
Addressed older FDCs do have good value, but the unaddressed version will have a premium. It's analogous to the hinged vs never-hinged retail values for newer and older unused stamps.
Just remember that for postal history, it is exactly the opposite. For example, unused patriotic covers have value, but if you have one that is addressed and went through the mail, it is usually worth a lot more. The ability to establish the entire history of the cover is what gives it value.
For those of us who just collect stamps, we simply cut the stamp off the covers, toss the cover remnants, soak stamp off paper, dry, and stick it in our album. It drives postal history cover collectors crazy!
I am a letter writer, snailmail addict. I send therefore I receive. I also manage a letter writing/correspondence forum called A World of Snail Mail and have a blog (link is in my profile). I sometimes post pictures on Instagram (username morgaine_does_snail_mail) Stamp themes - science, nature, postal history, maps, nice stamps.
I bought a wholesale lot of modern FDCs, it was 2000+ mixed addressed/unaddressed for $22.
where the hell you get such a deals?? crazy! I would invest in stuff like this instantly...
It was a large lot of UN FDCs. The catalog value, technically, is substantial, but the demand is next to nothing. There were a handful of premium FDCs that made the $22 price worth it. I think there might have been a 1955 UN 10th anniversary S/S FDC in there as well, but the better value was in some of the early combination FDCs that are actually a little difficult to get. In other words, the remaining ~2000 FDCs were there simply because the dealer was trying to clear out space for more valuable stuff. I believe I paid more for the overhead/shipping than the actual lot price. If I had a choice, I would have asked the dealer to keep the other FDCs so I wouldn't have to pay the shipping. But then again, I didn't know the exact contents of the lot.
In the US, the modern US general FDC market crashed a couple of decades ago and has never recovered. Hand-painted cachets are really the only modern US FDCs that have kept any sort of value. The UN FDC market is even worse.
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