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Tuesday, November 23, 2010

Stamp Investment Tip: Kuwait 1948 Silver Wedding (Scott #82-83)

Kuwait was a British Protectorate until it attained independence in 1961. In 1948, the British issued a surcharged set of two stamps for Kuwait celebrating the Silver Wedding Anniversary of King George VI and Queen Elizabeth (later the Queen Mother- Scott #82-83). 31,703 sets were issued, and Scott '11 prices the unused set at $45.50 . Issues of Kuwait, especially those of the British period, are sought after both in Kuwait and among British Commonwealth collectors, and British Royal Family issues have additional topical appeal.

A country of just under 3 million people, Kuwait is the 5th richest country in the world, with proven oil reserves of 104 billion barrels, and annual GDP growth of just under 6%. It is also developing its other major industries, which include shipping, construction, cement, water desalination, construction materials and financial services.

There are a number of scarce and undervalued issues from the Gulf States which I view as bargains. Assuming that these countries can maintain their economic growth, diversify away from their current near-total dependence on oil revenues, and avoid internal political instability or military conflicts with their neighbors, their better stamps should all do well.

Those interested in joining a community of stamp collectors, dealers, and investors are welcome to join the Facebook "Stampselectors" group, which has grown to over 1,500 members (as of 11/24/10). Members are free to post ads related to stamp collecting, and topics discussed include stamp investment and practical aspects of collecting and trading stamps.

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