Stamp Investment Tip: Uruguay 1930 Centenary of Independence (Scott #394-409)

In 1930, Uruguay issued a handsome set of sixteen stamps celebrating its Centenary of Independence (Scott #394-409). 3,006 were issued, and Scott '12 prices the set unused at $105.40.

The set is grossly undervalued, especially considering that there are many collectors of Latin America who focus on the region as a whole. It is very likely that many were used as postage and discarded.

With a population of about 3 1/2 million people, most of whom are of European or mixed descent, Uruguay has a stamp collecting population which will probably approach European levels in the years to come. Uruguay is one of the most economically developed, politically stable and least corrupt countries in Latin America, and is moving away from its dependence on agricultural exports and toward development of commercial technologies, especially software. Annual GDP growth has averaged a little over 3% over the last 5 years.

I have begun a new blog, "The Stamp Specialist", which will feature wholesale buy prices for stamps which I am interested in purchasing. It includes a buy list for Uruguay, and includes the set recommended in this article. Viewing dealers' buy lists every now and then is an excellent way to keep current on the vagaries of the stamp market.

Stamp Investment Tip: Philippines 1979 Birds (Scott #1392-97)

In 1979, the Philippines issued an attractive set of stamps featuring Native Birds (Scott #1392-97). Only 50,000 sets were issued, and Scott '12 prices the unused set at $28.90. Most were probably used as postage and discarded.

From the perspective of philatelic history, the Philippines is interesting because it has issued stamps under Spanish dominion, U.S. Administration, Japanese Occupation, and as an independent nation. It is also compelling as an area of research for the philatelic investor, because of its rapid economic growth, and because it has issued a number of scarce yet overlooked issues, including some modern popular topical sets, such as the Birds set featured in this article.

As a newly democratic and newly industrialized country of 92 million which is moving away from from its centuries-old complete dependence on agriculture, the Philippines could turn out to be one of the most successful emerging markets in the Pacific Region. The government tends toward fiscal conservatism coupled with long-term economic planning, and annual GDP growth has been around 6%-7%. Barring extreme political instability, it is likely that the Philippines will be one of the fastest growing economies over the next decades.

I have begun a new blog, "The Stamp Specialist", which will feature wholesale buy prices for stamps which I am interested in purchasing. I've just posted a buy list for the Philippines, and it includes the set and souvenir sheet recommended in this article. Viewing dealers' buy lists every now and then is an excellent way to keep current on the vagaries of the stamp market.

Those interested in learning about investing in stamps should read the Guide to Philatelic Investing ($5), available on Kindle and easily accessible from any computer.

General Commentary: Has the Bull in the China Shop Met His Matador?

Happy, productive stamp collectors heroically marching
together on a single path to a glorious philatelic utopia
(JK)

Since October of 2010, the People's Bank of China has raised interest rates five times in an effort to combat inflation. This tightening of monetary policy has led to a deceleration of economic growth in the P.R.C., and has been a factor in the global economic recession.

There have been reports that this deceleration of growth has also dampened prices for Chinese collectibles, including stamps, that the once white-hot P.R.C. stamp market has cooled somewhat, and that dealer buy prices for many items have dropped by 20%-30%.

In a March, 2010 StampSelector blog article ("General Commentary - the Bull in the China Shop"), I commented on the dramatic price increases for P.R.C. material, and noted buy prices for several souvenir sheets and Cultural Revolution issues. I've re-listed these items below, along with current buy prices.

(Prices are for VF NH)

1958 Kuan Han-ching s/s (Scott #357a):

2004: $ 65.00
2006: $ 75.00
2007: $ 85.00
2008: $ 130.00
March, 2010: $ 215.00 ; April, 2010: $ 340.00
September, 2011: $ 650.00
January, 2012: $660.00


1961 Table Tennis s/s (Scott #566a):

2004: $ 180.00
2206: $ 225.00
2007: $ 225.00
2008: $ 275.00
March, 2010: $ 800.00; April,2010: $ 1,180.00
August, 2011: $ 1,500.00
January, 2012: $ 1,400.00


1962 Mei Lan-fang s/s (Scott #628):

2004: $ 1,800.00
2006: $ 2,500.00
2007: $ 3,000.00
March, 2010: $ 10,000.00; April, 2010: $ 11,000.00
August, 2011: $ 25,000.00
January, 2012: $ 25,000.00

1964 Peonies s/s (Scott #782):

2004: $ 400.00
2006: $ 500.00
2007: $ 500.00
March, 2010: $ 2,000.00; April, 2010: $ 3,650.00
August, 2011: $ 3,750.00
January, 2012: $ 4,100.00

1967 Thoughts of Chairman Mao- unfolded strip of 5 (Scott #948a):

2004: $ 325.00
2006: $ 750.00
2007: $ 750.00
March, 2010: $ 2,500.00; April, 2010: $ 3,300.00
August, 2011: $ 5,000.00
January, 2012: 8,000.00


1967-68 Poems by Chairman Mao (Scott #967-80):

2004: $ 475.00
2006: $ 800.00
2007: $ 800.00
2008: $ 1,300.00
March, 2010: $ 2,200.00; April, 2010: $ 3,000.00
September, 2011: $ 4,275.00
January, 2012: $ 5,350.00

1968: "The Entire Nation is Red" (Scott #999A):

2004: $ 8,000.00
2006: $ 10,000.00
2007: $ 10,000.00
March, 2010: $ $ 60,000.00; April, 2010: $ 75,000.00
September, 2011: $ 150,000.00
January, 2012: $ 170,000.00


1978 Science Conference s/s (Scott #1383a):

2004: $ 140.00
2006: $ 150.00
2007: $ 160.00
March, 2010: $ 400.00; April, 2010: $ 490.00
August, 2011: $ 550.00
January, 2012: $ 540.00

1979 Study Science s/s (Scott #1518):

2004: $ 300.00
2006: $ 510.00
March, 2010: $ 1,600.00; April, 2010: $1,950.00
August, 2011: $ 2,350.00
January, 2012: $ 2,300.00

1980 Year of the Monkey (Scott #1586):

2004: $ 100.00
2006: $ 215.00
2007: $ 200.00
March, 2010: $ 800.00; April, 2010: $975.00
August, 2011: $ 1,600.00

January, 2012: $ 1,550.00

According to my sampling, the buy prices for the key items selected remain very strong, but it is possible that this selection of key items is not representative, or that it doesn't take into account fluctuations which may have occurred on a shorter term basis, or during months for which buy prices were not noted. A few items seem to have stabilized or declined slightly, while others continued to increase in value.

My view is that if there has been a dampening in the P.R.C. stamp market, it will prove to be a temporary phenomenon, assuming that the market's fundamentals aren't undermined by extreme political instability. The key items of the P.R.C. may soar more rapidly skyward, like an awakened dragon, after China's monetary policy is relaxed. For those who wish to take a more conservative approach, I recommend focusing on better items of Imperial China and foreign offices in China, which have increased more steadily over time.

In the long run, the 64 million yuan question will be whether the P.R.C. will be able to maintain a politically and socially stable society in the midst of dramatic social and economic change. It is likely that the government will manage to succeed in its traditional policy of balancing repression and gradual reform, but if the economy falters and expectations of future growth are dashed, then, to paraphrase Robert Graves, all of the poisons which lurk in the mud could hatch out.

Stamp Investment Tip: Hawaii 1893 Red Provisional Government Overprints (Scott #53-64)

In 1893, following the contrived planter's rebellion that ultimately resulted in Hawaii's annexation by the U.S., Hawaii overprinted some of its earlier 1883-86 Kingdom stamps for use by its new provisional government (Scott #53-64). Many of the stamps of this set are scarce and undervalued, and #61B is rare. I've listed the better stamps, along with their Scott '11 values for unused and printing quantities, below:

• -1893 1c Purple (Scott #53; Scott ' 11CV = $9.00- $21.50NH ; 62,500 issued)
• -1893 1c Blue (Sc. #54; SCV = $9.00-$21.50 NH ; 75,000 issued)
• -1893 2c Brown (Sc.#56; SCV= $12.00-$28.50 NH:37,500 issued)
• -1893 5c Deep Indigo (Sc.#58; SCV=$13.00- $32.00 NH : 46,350 issued)
• -1893 6c Green (Sc. #60; SCV = $17.50-$40.00 NH : 39,950 issued)
• -1893 10c Black (Sc. #61; SCV=$13.00- $30.00 NH ; 50,000 issued)
• -1893 10c Red Brown (Sc. #61B; SCV= $ 14,000.00; 50 issued)
• -1893 12c Black (Sc. #62; SCV= $12.00-$30.00 NH : 20,831 issued)
• -1893 12c Red Lilac (Sc. #63;SCV= $ 165.00- $400.00 NH;7,500 issued)
• -1893 25c Dark Violet (Sc. #64; SCV=$32.00- $72.00 NH ; 25,000 issued)

It is surprising that there are still many undervalued stamps of Hawaii, given that it's the most popular U.S. Possession among U.S. collectors, and that it is an important cultural and economic nexus between the U.S. and the Far East.

Many of the definitives of the Kingdom Period and the later Provisional Government overprints may be found well centered. As the P.S.E. (Professional Stamp Experts organization) now grades U.S. Possessions stamps, I advise selecting for condition and centering when purchasing them. Should the current grading fetish persist, Hawaiian stamps that grade XF-90 or higher will sell at auction for multiples of their catalog value.

Stamp Investment Tip: There's Nothing Silly About Cilicia

During World War I, the British and the French occupied Cilicia, a territory of the Ottoman Empire, and in 1919, the administration of it was transferred to the French. It was later assigned to the French Mandated territory of Syria, but eventually reverted to Turkey.

From 1919 to '21, the French issued stamps for Cilicia by overprinting the Turkish stamps that they'd found in the local post offices. Fortunately for later stamp collectors insane enough to consider themselves philatelic investors, the French kept records of the quantities of many of the new stamps that they produced. Cilician stamps range from very rare to scarce, even for some of the cheapest ones, with quantities issued ranging from under 100 to 100,000, and with most with quantities issued in the thousands to low ten thousands. I've listed many of these in the StampSelector Scarce Stamp Quantities Issued List, on the French Colonies/Area page.

I believe stamps of Cilicia to be undervalued considering their scarcity and multiple market appeal to collectors of French Colonies, Turkey, and possibly Syria. Their main drawback (and a major reason for their undervaluation) is that they're all overprints, and fakes exist. Consequently, I recommend purchase of those stamps of Cilicia which catalog $200 or more, conditional on obtaining expertization, because the expertization cost is not justified for the less expensive stamps. Quantities issued on the stamps which cat. $200+ range from 50 (for the 1920 Airs) to 2,000.

I view the future growth of the Turkish economy and stamp market as the most likely catalyst for significant increases in the values of better stamps of Cilicia.

With a population of about 72 1/2 million, Turkey is perhaps the most culturally European of the Islamic nations, and a likely model for their modernization, economic development, and democratization. The country experienced rapid economic growth between 2002 and 2007, with GDP averaging 7.4%, but this slowed in 2008 to 5% and stalled in 2009 to 1%, due to the global financial crisis, from which the country is recovering. While traditional agriculture is still a pillar of the Turkish economy, it is becoming more dependent on industry. Key sectors include tourism, banking, construction, home appliances, electronics, textiles, oil refining, petrochemical products, food, mining, iron and steel, the machine industry, automotive, and shipbuilding. It is likely that in the future, Turkey will benefit from serving as an economic and cultural nexus connecting Europe, the Near East, and the Turkic (formerly Soviet) nations of Central Asia.

Those interested in joining a community of stamp investors are welcome to join the "Stampselectors" group on Facebook. The group provides a valuable forum for those who wish discuss this blog, as well as trade or communicate with stamp collectors, dealers, and investors from all over the world.

Stamp Investment Tip: Canal Zone 1939 Views (Scott #120-35)

In 1939, the U.S. issued an attractive set of sixteen stamps for the Canal Zone featuring views of the Panama Canal (Scott #120-35). 34,000 sets were issued, and Scott '12 prices the unused set at $164.65.

Many of the better stamps of the Canal Zone are overprints or overprint varieties. This set has a more general appeal than most. It is likely that quite a few were used as postage and discarded, and I would not be surprised if fewer than ten thousand sets remain, in any condition.

Stamps of the Canal Zone are popular among U.S. Possessions collectors, and should continue to well as interest both in this collecting area and in Latin America grows.

Readers who are on Facebook are welcome to join the "StampSelectors" group. To find it, simply enter "StampSelectors" in Facebook's search box, and then click on the search symbol (a magnifying glass) to the right of the box. The group focuses upon philatelic investing, the stamp market, and practical matters regarding buying and selling stamps. It also offers the opportunity to comment upon this blog and suggest future stamp investment tips.

Those interested in learning more about investing in stamps are encouraged to read the Philatelic Investment Guide ($5), available on Kindle, and accessible from any computer.

Stamp Investment Tip: Russia 1934 Stratosphere Disaster Issue (Scott #C50-52)

In 1934, Russia issued a set of three airmail stamps honoring the victims of a tragic ballooning disaster (Scott #C50-52).

Osoaviakhim-1 was a record-setting, hydrogen-filled Soviet high-altitude balloon designed to seat a crew of three and perform scientific studies of the Earth's stratosphere. On January 30, 1934, on its maiden flight which lasted over 7 hours, the balloon reached an altitude of 22,000 metres (72,000 ft). During the descent the balloon lost its buoyancy and plunged into an uncontrolled fall, disintegrating in the lower atmosphere. The three crew members- I.D. Usyskin, A.B. Vasenko, and P.F. Fedoseinko- were probably incapacitated by high g-forces in a rapidly rotating gondola, failed to bail out, and were killed by a high-speed ground impact.

100,000 sets were issued, and Scott '12 prices the unused set at $150.00. The vast majority were probably used as postage and discarded. The set has obvious appeal to Aviation topicalists.

Note that a Perf. 14 set, which is probably a hundred times scarcer than the normal set (Perf. 11), was also issued. The price of the Perf. 14 set (Scott #C50a-52a) is truly stratospheric, however, as it cats. at $30,110.00 for unused.

The market for better Russian stamps from the Czarist through Stalin periods is very hot right now. With 142 million people, Russia is the 8th or 9th largest economy in the world, with vast reserves of natural resources and a highly educated population. Since the collapse of the Soviet Union, Russia has experienced several major economic crises in its transition to capitalism, including a major economic contraction of about 8% in 2009 due to the global financial crisis. Even accounting for 2009, annual GDP growth over the last 5 years has averaged about 3.4%. The country is still plagued by corruption and organized crime, making it somewhat reminiscent of America during its "Wild West" and Robber-Baron periods. Nevertheless, the middle class has grown from just 8 million people in 2000 to 55 million in 2006.

I favor all scarce sets of Russia, as I believe that it is likely both its economy and stamp collecting population will grow substantially over the next decades.

Stamp Investment Tip: India 1900 China Expeditionary Force Overprint (Scott #M1-10)

As with the other colonial powers smuggling opium into China, bribing corrupt officials, and generally making a mockery of Chinese sovereignty during the 19th and early 20th centuries, Great Britain maintained "spheres of influence" within China, and maintained post offices there and in Hong Kong. This understandably led to some resentment among the Chinese who attempted to forcibly eject the foreign parasites. The abortive Boxer Rebellion (1898-1901) was crushed by the multinational China Expeditionary Force, to which the various colonial powers had contributed personnel. In a truly British combination of efficiency with a sense of humor, Great Britain added Indian units to the C.E.F., thereby setting one colonized and exploited people against another.

In 1900, a set of ten Victoria definitives from India's regular issues of 1882-99 were overprinted for use by the C.E.F. (Scott #M1-10). 13,717 sets were sold, and Scott '12 prices the unused set at $100.70.

The set has potential appeal in three growing markets: collectors of British Commonwealth, India, and China. Many of the best investments in Indian stamps are to be found among the obscure colonial back-of-book items and the Convention States. The Indian stamp market is really just beginning to take off, and is at a stage similar to the Chinese stamp market of 30 years ago.

The set should also do well based upon demand from China, but that may require a change in attitude on the part of Chinese collectors. Many, if not all, of the better foreign offices in China stamps are grossly undervalued, because most Chinese collectors disdain them as relics of foreign imperialism, which they are. Nevertheless, I feel that they are excellent investments solely on the basis of growing demand in their home countries, and because I believe that eventually, the Chinese will bid them up as well. Many of these issues are undervalued to such an extent that they are currently selling for less than P.R.C. souvenir sheets and Cultural Revolution sets which are at least 30 to 100 times more common. When reticence begins to replace rage, they will zoom upward at a rate that will shock and amaze the the vast majority of collectors who unwisely neglected to read this blog.

Stamp Investment Tip: Azerbaijan 2001 Olympic Medalists Souvenir Sheet (Scott #713)

In January of 2001, Azerbaijan issued a flashy souvenir sheet honoring the Azerbaijani Olympic medalists of the Sydney, Australia Olympics of the previous year (Scott #713). 25,000 were issued, and Scott '12 prices the unused souvenir sheet at $5.75.

The sheet has obvious topical appeal for Sports and Olympics collectors, as well as being an inexpensive bet on the growth of Azerbaijan's economy. Recommending it is consistent with my belief that one of the best ways to play the new and newly resurrected countries of Europe and Asia is to focus on popular topicals with low printings.

Azerbaijan is an oil-rich nation of about 9 million people, which also has significant reserves of natural gas and various minerals. Agriculture and tourism are also important to the Azerbaijani economy. The country shares all the problems of the former Soviet republics in making the transition from a command to a market economy, but its energy resources brighten its long-term prospects. It has begun making progress on economic reform, and old economic ties and structures are slowly being replaced. Annual GDP growth has averaged a stellar 16% over the last 5 years, largely based on the frenetic development of the country's oil wealth - an estimated 7 billion barrels of reserves.

Stamp Investment Tip: Switzerland 1940 National Fete Day Souvenir Sheet (Scott # B105)

In 1940, Switzerland issued a semi-postal souvenir sheet honoring National Fete Day (Scott #B105). 75,384 sheets were issued, and Scott '12 prices it unused at $ .

Proceeds from the non-postal surtax funded the Swiss National Fund and the Red Cross, thereby rendering this issue a Red Cross topical.

The International Red Cross and Red Crescent Movement is an international humanitarian movement with approximately 97 million volunteers, members and staff worldwide which was founded to protect human life and health, to ensure respect for all human beings, and to prevent and alleviate human suffering, without any discrimination based on nationality, race, sex, religious beliefs, class or political opinions. From a philatelic investment perspective, the support of almost 100 million of people for this movement creates a significant collector base for better Red Cross/Red Crescent topicals.


Switzerland, a nation of 7.8 million people,is one of the richest countries in the world by per capita, with a nominal per capita GDP of $67,384. The country experienced slow growth in the 1990s and the early 2000s, and was hurt by the global financial crisis, which has resulted in greater support for economic reforms and harmonization with the European Union. Annual GDP growth has averaged about 1.6% over the last five years.

Stamp Investment Tip: Argentina 1931 Coup Anniversary Overprint (Scott #399-405)

On September 6, 1930, Argentina experienced a coup d'etat which the Argentine military, aided by Standard Oil, deposed President Hipolito Yrigoyen, the country's first elected leader. This resulted in the rule of a quasi-fascist, authoritarian regime during a period known in Argentina as the "Infamous Decade."

In September of 1931, six stamps were overprinted to celebrate the first anniversary of the coup (Scott #399-405). 20,000 sets were issued, and Scott '12 prices the unused set at $85.50. Like many better items of Latin America, the set is grossly undervalued, and serves as a poignant reminder of the fact that multinational corporations have often opposed democracy in Latin America by installing or supporting profitable dictatorships.


I continue to favor all better stamps of Latin America as bets on the growth of the region's middle class. Demand for the stamps of the individual countries is bolstered by the tendency of collectors to focus on the region as a whole.

With a population of about 40 million, Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Historically, Argentina's economic performance has been uneven, as periods of high economic growth have alternated with severe downturns. Over the last 5 years, annual GDP growth has averaged over 6%. However, over the last 20 years Argentina has weathered several major debt crises and recessions.


I have begun a new blog, "The Stamp Specialist", which will feature my buy prices for stamps which I am interested in purchasing. I've just posted a buy list for Argentina, including the set recommended in this article. Viewing dealers' buy lists every now and then is an excellent way to keep current on the vagaries of the stamp market.

Stamp Investment Tip: Tahiti 1882-1915 Issues

Tahiti was first visited by Europeans in 1767, who later colonized the island and imported the wondrous benefits of Western civilization, including typhus, influenza, smallpox, alcoholism, prostitution, and Christianity. This disrupted the society of the generally friendly and easy-going native population, over 80% of whom were wiped out.

The French annexed the island in 1843, and brutally crushed a rebellion by the ungrateful natives. In 1882, the French began issuing stamps for Tahiti, by overprinting their French Colonies General Issues. Thirty-one regular postage stamps, two semi-postals, and twenty six postage dues were issued, and all of Tahiti's stamps which catalog $50 or more had printings ranging from extremely low (less than 100) for the most expensive, to modest (low thousands) for the least. The printing quantities of many of these stamps are noted in the StampSelector Scarce Stamp Quantitites Issued List (under the France and Colonies category).

I recommend purchase of all stamps of Tahiti cataloging $250 or more. This includes many of the regular issues, the 1915 15c Blue Semi-postal (Scott #B1), and all of the Postage Due stamps. As fake overprints exist, these stamps should be purchased conditional on obtaining expertization. Though rather plain-looking, stamps of Tahiti  are eagerly sought after by collectors of French Colonies, French Polynesia, and the South Pacific area in general.

General Commentary: Demographic Trends Favoring a Multi-Decade Bull Market in Stamps

In the 2009 StampSelector article "General Commentary: Demographics and the Stamp Market", I described demographic trends which determined whether a particular country's stamps would tend to rise or decline in value. As I am now convinced that various long-term global trends favor a multi-decade bull market for better stamps in general, I've decided to summarize some of the most important of these trends:

1) The Rise of a Global Middle Class: I've noted this trend in several articles, including "General Commentary: When Does a Collector Become an Investor?" The basic thrust of the argument is that democratization and the emergence of a global middle class, especially in rapidly developing countries that were once considered part of the "Third World", is bringing tens of millions of people into the philatelic fold.

2) Global Aging: I described this trend in the article "General Commentary: The Aging Population and the Coming Stamp Market Boom", which notes the tendency of many collectors to begin young, put the hobby on hold for several decades, and then return to it on a more serious basis later in life, implying that the population of stamp collectors will increase as the proportion of middle-aged and elderly people grows.

3) The Growth of the Internet: while there is no substitute for actually examining stamps before purchasing them, the buying and selling of stamps online has grown by leaps and bounds over the last decade. Stamps are a nearly ideal commodity for online trading, as they are small, flat, and easy to scan. While the risk of purchasing overgraded stamps still exists, many venues, including Ebay, give buyers with the right to return stamps for a refund, and may also provide feedback or references. An ever-increasing wealth of accessible information may be found online, as well the opportunity to join collector groups and clubs via social networking. These changes have revolutionized collectibles markets in general, and will continue to do so as more and more people gain Internet access. It is all quite astounding when one considers that only 20 years ago, a collector had to amass a substantial philatelic library in order to have access to information that is now free, that he probably attended only one or two local stamp clubs (if any), and that the only convenient means of disposing of his collection were either by selling it to a dealer or through a stamp auctioneer.

4) Increasing Social and Technological Complexification: the rapid social and technological advances of recent years and the unprecedented dynamism of Modern Society have their drawbacks, including higher levels of stress, anxiety, and depression. Clearly, many in our society suffer from "complexity burn-out," and do well to seek out activities which are refreshingly simple, relaxing, and enjoyable. Stamp collecting has been used as a form of therapy to help handicapped and autistic children, and a charitable organization, "Stamps for the Wounded", promotes stamp collecting among wounded soldiers in hospitals, in order to raise their morale and help them to heal more quickly. Whether as a form of mental health maintenance or simply as recreation, Philately offers an attractive alternative for those who are tired of the noise and inanity of television or video games.

Those interested in learning more about investing in stamps are encouraged to read the Philatelic Investment Guide ($5), available on Kindle, and accessible from any computer.

Stamp Investment Tip: U.S. 2005 $15 Mini-sheet (RW72b)

In 2005, the U.S. Fish and Wildlife Service issued the first Duck Stamp Mini-sheet (Scott #RW72b). The sheet was issued with little fanfare, and most Duck Stamp collectors did not even realize that it even existed until it had sold out. 1,000 mini-sheets were issued and signed by the artist, and Scott '12 prices the unused sheet at $2,000.00.

This is, by far, the scarcest Duck stamp item ever issued by the Federal Government, and will probably remain a key for some time to come.

The Duck Stamp collecting community is interesting because it represents an atypical crossover market which includes collectors of general U.S. stamps, U.S. Revenues, Duck hunting collectibles and Wildlife art. Because revenues from the sales of the stamps are used to purchase and protect wildlife habitats, it may be considered a "green" collectible, and Duck stamp collecting is actively promoted by the Department of the Interior's Fish and Wildlife Service. I estimate that currently there are between 8,000 to 10,000 "serious" Duck stamp collectors in the U.S., and many others who buy them to them to fill spaces in their general U.S. albums.

Coincidentally, the Scott value of the sheet and the price of an ounce of gold are about the same. However, over time, humans have produced about 10 billion ounces of gold, enough to fill a cube 82 feet on each side, while there are only 1,000 of RW72b, enough to comprise a small stack the thickness of a few decks of cards. And, of course, there is plenty more gold to be found, especially if there are advances in mining and refining technology. One might well ask: which investment will glitter more, over the long-term?

I wish to thank Bob Dumaine, President of Sam Houston Philatelics, for providing much of the information used in this article.


Those interested in learning more about investing in stamps are encouraged to read the Philatelic Investment Guide ($5), available on Kindle, and accessible from any computer.

Stamp Investment Tip: Sudan 1931-35 Statue of General Gordon (Scott #C4-15)

From 1931-35, Sudan issued an attractive set of 15 airmail stamps picturing a statue of General Charles "Chinese" Gordon sitting atop a camel (Scott #C4-15). 35,000 sets were issued, and Scott '12 prices the unused set at $53.40.

The set has potential dual market appeal among collectors of British Commonwealth and collectors of Sudan.

Until recently, Sudan was a nation of about 42 million people, living under what is perhaps the most vicious regime on the planet. It had suffered several civil wars over the last 50 years, including the one waged in Darfur, which earned the government international condemnation and charges of genocide. Recently, Southern Sudan (population = 8.2 million) gained independence, and it is unclear whether this will result in a lasting peace. Both countries are rich in oil, natural gas, and minerals. Agricultural production remains the most important sector, employing 80% of the workforce and contributing 39% of GDP, but most farms remain rain-fed and susceptible to drought. Political instability,adverse weather, and weak world agricultural prices ensures that much of the population will remain at or below the poverty line for years. Annual GDP growth (for Sudan as a whole) has been very high, averaging almost 8% over the last five years. However, it is very likely that most (or all) of the prosperity has benefited only the ruling elite, as Sudan was not only one of the world's most murderous countries, but also one of the most corrupt.

I recommend the set on the basis of its appeal among British Commonwealth collectors, as it's honored subject, General Gordon, gained fame as a martyr for the British Empire. Should a significant collector population ever develop within either of the two Sudans, it would provide an additional catalyst for price appreciation.

Those interested in joining a community of stamp investors are welcome to join the "Stampselectors" group on Facebook. The group provides a valuable forum for those who wish discuss this blog, as well as trade or communicate with stamp collectors, dealers, and investors from all over the world.

Stamp Investment Tip: Panama 1948 Revolutionaries (Scott #C88-95)

In 1948, Panama issued a set of eight airmail stamps honoring the Revolutionaries of 1903, who led Panama to secede from Colombia (Scott #C88-95). 6,474 sets were issued, and Scott '12 prices the unused set at $18.50.

As with all Latin American stamps, there are many collectors who focus on the region as a whole, which supplements demand for the stamps of the individual countries.

A nation of 3.4 million people, Panama is the fastest growing economy and the largest per capita consumer in Central America. Panama's economy, because of its key geographic location, is mainly based on a well developed service sector heavily weighted towards banking, commerce, tourism, trading. The handover of the Canal and military installations by the United States has given rise to large construction projects. Tourism has grown rapidly during the past 5 years due to the government offering tax and price discounts to foreign guests and retirees. The country also has valuable copper and gold deposits, which are beginning to be developed. Annual GDP growth has averaged over 7% over the last 5 years.

I have begun a new blog, "The Stamp Specialist", which will feature my buy prices for stamps which I am interested in purchasing. I've just posted a buy list for Panama, including the set and souvenir sheet recommended in this article. Viewing dealers' buy lists every now and then is an excellent way to keep current on the vagaries of the stamp market.

Those interested in learning more about investing in stamps are encouraged to read the Philatelic Investment Guide ($5), available on Kindle, and easily accessible from any computer.

Stamp Investment Tip: Bulgaria 1953 Medicinal Flowers Souvenir Sheet (Scott #843a)

In 1953, Bulgaria issued a souvenir sheet picturing Medicinal Flowers (Scott #843a). 50,000 were issued, and Scott '12 prices it unused at $55.00 .

Aside from being an investment in Bulgaria's economic development, the souvenir sheet also appeals to collectors interested in either Flower or Medical topicals. I think it likely that interest in Medical Topicals will trend upward as the number of medical professionals increases.

Since the fall of communism, Bulgaria, with a population of about 7.6 million, has experienced rapid economic growth, although its GDP per capita is only about $13,000, about 40% of the European Union average. It has an industrialized, open free-market economy, with a large, moderately advanced private sector and a number of strategic state-owned enterprises. The World Bank classifies it as an "upper-middle-income economy." Tourism is a steadily growing, and the country also benefits from rich natural resources, a highly educated population and an export-oriented agricultural sector. Annual GDP growth has averaged 2.5% over the last 5 years, reflecting a recent major contraction due to the European debt mess.

Stamp Investment Tip: Nepal 1961 Children's Day (Scott #134)

I'm initiating coverage of Nepal by recommending a rather plain typographed stamp, the 1961 Children's Day stamp, picturing Prince Gyanendra canceling stamps (Scott #134). 16,000 were issued, and Scott '12 prices the unused stamp at $60.00.

While clearly the stamp is visually boring and is of little topical interest (other than a tenuous tie-in with the UN's Universal Children's Day), its scarcity and inexpensiveness render it a low-risk bet on the economic development of Nepal, as well as the growth of interest in stamps of the British Commonwealth. Mediocre centering is endemic to this issue, so when purchasing, attempt to select examples which are F-VF or better - nicer than the one pictured here.


A Himalayan nation of about 27 million, Nepal is a primarily agricultural country, and major products include tea, rice, corn, wheat, sugarcane, root crops, and milk.The spectacular landscape and diverse, exotic cultures of Nepal represent considerable potential for tourism, but growth in this industry has been stifled by recent political instability. Annual GDP growth has averaged just under 4% over the last five years.

Stamp Investment Tip: Republic of China 1961 Chiang Kai-shek Souvenir Sheet (Scott #1319a)

In 1961, the Republic of China (Taiwan) issued a souvenir sheet celebrating the 1st anniversary of President Chiang Kai-shek's 3rd inauguration (Scott #1319a). Given the number of issues honoring Chiang Kai-shek, it would seem that the citizens of the R.O.C. were most grateful for the many years of their paternal dictator's leadership. 100,000 were issued, and Scott '12 values the unused souvenir sheet at $20.00.

Better stamps and souvenir sheets of the R.O.C. have done well over the last few decades, but the market has been cooler than that for stamps of the People's Republic. I believe that as capitalism and incremental democratization take hold in the P.R.C., relations between the "two Chinas" will gradually improve, as will demand for stamps of the R.O.C.. The process of thawing may have already begun: as of 2008, more than $ 150 billion has been invested in the P.R.C. by Taiwanese companies, and about 10% of the Taiwanese labor force works in the P.R.C., often to run their own businesses.


In the meantime, most of the demand for stamps of Taiwan will originate from collectors in Taiwan itself and among overseas Chinese (of which there are approximately 35 million). Taiwan, a nation of 23 million people, is one of the four "Asian Tigers," and has experienced explosive economic growth and industrialization over the last 5 decades. Annual GDP growth has averaged about 4% over the last 5 years, but this reflects the zero growth of 2009, a result of the global financial mess.

Those interested in learning more about investing in stamps are encouraged to read the Philatelic Investment Guide ($5), available on Kindle, and accessible from any computer.

Stamp Investment Tip: Venezuela 1951 Third Bolivarian Games Souvenir Sheet (Scott #C337a)

In 1951, Venezuela issued a souvenir sheet celebrating the Third Bolivarian Games (Scott #C337a). The Bolivarian Games are a regional multi-sport event held in honor of Simón Bolívar, and open to athletes from Bolivia, Colombia, Ecuador, Panama, Peru and Venezuela. 20,000 of the souvenir sheet were issued, and Scott '12 prices it unused at $20.00.

Aside from its appeal to collectors of Venezuela and Latin America in general, the souvenir should also do well as a Sports topical. The sheet is large and was issued on thin paper, so when purchasing it, ascertain that is free of bends and creases.


With a population of about 26 million, Venezuela is resource-rich, and consistently ranks among the top ten oil producers in the world. Annual GDP growth has averaged almost 10% over the last 5 years, although it has been decelerating recently due to lower oil prices. Under Chavez-style quasi-socialism, the percentage of Venezuelans living below the poverty line has decreased from 48% in 2002 to 30% in 2006. The country has begun diversifying its economy away from its current near-total dependence on petroleum exports, and has spawned a rapidly growing manufacturing sector.

I have begun a new blog, "The Stamp Specialist", featuring my buy lists for stamps which I wish to purchase, including many items from Venezuela .Periodically viewing dealers' buy lists
is an excellent way to remained informed about the state of the stamp market.


Those interested in joining a community of stamp investors are welcome to join the "Stampselectors" group on Facebook. The group provides a valuable forum for those who wish discuss this blog, as well as trade or communicate with stamp collectors, dealers, and investors from all over the world.

Stamp Investment Tip: French Southern and Antarctic Territories 1967 20fr Rocket (Scott #29)

Four countries claim territory in the Antarctic and issue stamps for their territories. They are Australia (Australian Antarctic Territory), Great Britain (British Antarctic Territory), New Zealand (the Ross Dependency), and France (the French Southern and Antarctic Territories). Of these, the French territory, also known as French Antarctic and abbreviated as F.S.A.T. or T.A.A.F., is of most interest to philatelists, because most of the F.S.A.T. stamps were issued in modest quantities and many are beautifully engraved. Most stamps issued for the various Antarctic territories are sold to collectors, as only a few hundred scientists reside in research facilities in the Antarctic.

In 1967, the F.S.A.T. issued an attractive 20fr stamp in honor of the launching of the first space rocket from Adelie Land (Scott #29). 60,000 were issued, and Scott '12 prices the unused stamp at $26.00.

Demand for stamps of the French Antarctic is strong in France and among collectors of French Colonies/Area, and the Rocket stamp has the added appeal of being a Space topical. Despite its beauty and topical appeal, it has lagged behind some of the territory's other early issues with comparable printing quantities, some of which sell for 5 to 10 times as much.

General Commentary: How Green is Your Collection? The Case for Eco-Topicals

As man-made threats to the environmental health of the planet become more and more evident, it seems reasonable to assume that interest in collecting stamps which are thematically related to preserving the environment will also tend to increase. Though generally, the issuance of stamps which have subjects directly related to environmental preservation is a recent phenomenon, there are many topical areas which are indirectly related.

Among the earliest stamps issued which most directly relate to conservation are stamps of various countries celebrating the natural beauty of their national parks, such as the U.S. 1934-35 National Parks sets (Scott #740-49 and 756-65) and those of Japan (issued from 1936 on). While certain National Parks issues may warrant a closer look by investors, "scenes stamps" are not among the most popular topicals.

According to a recent survey taken by the American Topical Association (A.T.A.), the most popular stamp collecting topical among U.S. collectors is Animals, the fifth most popular is Flora, and the subgroups of Birds, Marine Life, and Insects are also very popular (at 7th, 12th, and 14th places, respectively). These topicals certainly are ec0-related, although it is possible that not all collectors who focus on them consider themselves environmentalists. Unfortunately, no similar survey has ever been taken internationally, but it seems likely that global interest in these topical areas is roughly the the same.

Collector demand for pro-conservation stamps which picture animals has bolstered the market for better recent stamps and souvenir sheets honoring the World Wildlife Fund issued by various countries. In the U.S., demand for Migratory Bird Hunting and Conservation Stamps, also known as "Duck Stamps", has remained strong, to the extent that their issuance has expanded beyond the Federal government to include many states and some Native American Tribal Lands. Since 1993, the Fish and Wildlife Service has also issued "Junior Duck Stamps", which are basically labels designed by teens and children, with no validity as revenues. The program has proven successful solely on the basis of sales to collectors, and some of these stamps have increased dramatically in value. Several of the earliest Junior Ducks currently retail for around $500 each, which is quite impressive when one considers that they're basically glorified cinderellas. All of the U.S. Duck stamp programs support environmental conservation, since the funds derived from the sale of the stamps are used to purchase wetlands, but to what extent this beneficial aspect affects collector demand is impossible to gauge.

In my opinion, the interest in topicals related to the environment will continue to increase, and the best way to benefit from the trend will be to aim for the scarcest stamps and souvenir sheets issued by countries with growing collector populations, thereby benefiting from growth in both demand for the topicals and the economic growth of the issuing countries.