Wednesday, September 16, 2009
On January 30, 1948, Mohandas K. Gandhi, one of the greatest men who ever lived, was assassinated. On August 15, the first anniversary of India's independence, India issued a set of stamps depicting the Mahatma (Scott #203-06). About 230,000 sets were issued, and the set has a Scott '09 Catalog Value of $ 126.00.
In my opinion, this set is certain to rise in value. It has appeared on many buy lists lately, and may not be available for less than full Scott value. Several decades ago, before India's economic growth accelerated, an NH set could be purchased for as little as 25% of Scott.
A small number of Gandhi sets were overprinted "SERVICE" for Offical use (Scott #O112A-112D) in the following quantities, with Scott Catalog Values also given: O112A - 15,950
($ 45.00), O112B - 1,350 ($ 800.00), O112C - 250 ($ 2,100.00), O112D - 20 ($ 12,000.00). The catalog values given are italicized in Scott, indicating that reliable market information is unavailable, making it difficult to assign accurate values. A set of the Gandhi Officials sold for 38,000 Euros (about triple Scott) at a David Feldman Auction in 2007. Buying the less expensive lower values individually makes sense, but since forged overprints exist, require expertization as a condition for purchase.