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Sunday, August 4, 2013

Stamp Investment Tip: Panama 1950 Gen'l Jose de San Martin (Scott #373-75, C121-25)

In 1950, Panama issued a compound set of  eight stamps commemorating the centenary of the death of General Jose de San Martin  , who led the struggle to liberate much of South America from Spanish dominion (Scott #373-75, C121-25). 10,000 sets were issued, and Scott '13 prices the unused set at $5.65.

As with all Latin American stamps, there are many collectors who focus on the region as a whole, which supplements demand for the stamps of the individual countries.

Though I often recommend purchasing scarce overprinted stamps conditional on obtaining expertization, such is not the case with this set, which is too inexpensive to fake.

A nation of 3.4 million people, Panama is the fastest growing economy and the largest per capita consumer in Central America. Panama's economy, because of its key geographic location, is mainly based on a well developed service sector heavily weighted towards banking, commerce, tourism, trading. The handover of the Canal and military installations by the United States has given rise to large construction projects. Tourism has grown rapidly during the past 5 years due to the government offering tax and price discounts to foreign guests and retirees. The country also has valuable copper and gold deposits, which are beginning to be developed. Annual GDP growth has averaged over 7% over the last 5 years.

   "The Stamp Specialist" blog features buy prices for stamps which I am interested in purchasing. I've  posted a buy list for Panama, including some of the items recommended in my articles. 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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