What your old stamps are worth now

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What your old stamps are worth now
Elvis Presley Stamp 
Asking Price: $1,000,000 

Photo credit: eBay.com

Ronald Regan Signed Balloon Stamp
Asking Price: $499,000

Photo credit: eBay.com

Golden Yuan China Stamp
Asking Price: $77,246.90

Photo credit: eBay.com 

Mauritius 1848 QV Post Paid Stamp
Asking Price: $69,999.99

Photo credit: eBay.com

#147a Printed on Both Sides Error Stamp
Asking Price: $60,000

Photo credit: eBay.com

Imperial Russia Stamp
Asking Price: $45,000

Photo credit: eBay.com

Queen Victoria Penny Grey Black Stamp
Asking Price: $33,266.67

Photo credit: eBay.com
Chinese Imperial Local Stamp 
Asking Price: $25,112

Photo credit: eBay.com 

Pan-Am Inverted Center Error Stamp 
Asking Price: $25,000

Photo credit: eBay.com

Rare Chinese Stamp
Asking Price: $21,000

Photo credit: eBay.com

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With all of today's advanced forms of communication, it's not surprising that you don't send letters as often as you used to. However, you shouldn't throw your old stamps away just yet -- they may be worth a lot of money.

You may not be aware, but stamp collecting is an extremely popular hobby, and some collectors are willing to pay millions for old stamps.

For example, a British Penny Red is valued at upwards of $795K -- and that's just if it's in mint condition. Other valuable types include Chinese stamps, Indian stamps and stamps with a picture of Queen Victoria on them.

If you happen to own any of those stamps or even one with an error, then you may be in luck. Check out the slideshow above to see what some of the rarest stamps are going for on eBay.

You never know, you may possibly have a small fortune hiding away in your kitchen drawer.

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