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Tuesday, October 20, 2009

Stamp Investment Tips: Papua New Guinea 1960 Postage Dues (Scott #J1-14)

In 1960, Papua New Guinea issued two sets of postage due stamps, as well as an individual stamp which collectors consider separate (Scott #J1-5, J6, and J7-14). The quantities issued and Scott '10 values are given below:

J1-5 1960 Surcharge (15,165; $ 74.75)
J6 1960 6p on 7 1/2p Red Surcharge (800;$1,100.00)
J7-14 1960 Numeral (55,696; $ 15.70 )

All of these dues are worthwhile investments. I believe that they have been ignored because they are back-of-book issues.

Papua New Guinea is richly endowed with natural resources, but exploitation has been hampered by the rugged terrain and the high cost of developing infrastructure. Agriculture provides a subsistence livelihood for most of the population of about 7 million. Annual GDP growth has increased dramatically over the last 5 years, from 1% in 2005 to about 7% in 2009.
Still, the majority of the population is extremely poor, and I do not foresee the development of a significant collecting population within the country for some time.

Most of the collectors of Papua New Guinea are British Commonwealth collectors or Australians, because the country was administered by Australia until 1975, and maintains close ties with that nation. I recommend the Postage Due issues on the basis of the prospect of growth in those two collecting areas.

As forged overprints exist of #J6, I advise requiring expertizaton as a condition for purchase.

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