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Wednesday, December 28, 2011

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.

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