The Collaborative International Dictionary of English v.0.48:
Philately \Phi*lat"e*ly\, n. [Philo- + Gr. 'ate`leia exemption from tax; cf. frank to send free.] The collection of postage stamps of various issues. [1913 Webster]WordNet (r) 3.0 (2006):
philately n 1: the collection and study of postage stamps [syn: philately, stamp collecting, stamp collection]