This is the 4313th most frequent Japanese word.
切手
Postage stamp.
Here '切手' (stamp) is being identified as an object in a simple noun structure.
これは切手です。
This is a stamp.
In this sentence, '切手' (stamps) is used as the direct object of the verb '集める' (collect).
切手を集めるのが趣味です。
Collecting stamps is my hobby.
Here '切手' (stamp) is modified by a demonstrative 'その' (that) and described with an adjective '珍しい' (rare).