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Sunday, March 31, 2013

Stamp Investment Tip: Nicaragua 1961 Dag Hammarskjold Overprint (Scott #C494-99)

   On September 18, 1961, U.N. Secretary-General Dag Hammarskjold was killed in a plane crash en route to cease-fire negotiations in the Congo.He is the only person to have been awarded a posthumous Nobel Peace Prize,  and remains the only U.N. Secretary-General to die in office. President John F. Kennedy called Hammarskjöld “the greatest statesman of our century".

   Many countries issued stamps in memory of Hammarskjold, including Nicaragua, which overprinted its 15,000 of its 1958 UNESCO sets (Scott #C424-29) with his name and date of death (Scott #C494-99). Scott '13 prices the unused set at $3.55.

I continue to like the U.N. as a topic, long-term. The market for U.N.-related topicals should grow over the very long haul as institutions of world government develop in order to take on serious (and possibly existential) problems which can only be coped with globally. Despite the present inadequacy, corruption, and ineffectiveness of the U.N., I view its reform and gradual strengthening as a gradual but irresistible trend.

Nicaragua is a poor nation of about 5 1/2 million people, and annual GDP growth of about 3%. It is largely dependent upon agriculture and remittances from Nicaraguans living in other countries. Nevertheless, its government has instituted economic reforms, and important secondary industries, such as tourism, banking, mining, and fisheries, are expanding.

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 Nicaragua. 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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