Sunday, February 23, 2014
The Territorial Collectivity of St. Pierre and Miquelon, the only remnant of the former French colonial empire in North America, is comprised of two small groups of islands off the coast of Newfoundland. From a philatelic investment perspective, it's of interest because its stamps are popular in Canada and among collectors of French Colonies - both growing markets.
In 1891, the French overprinted French Colonies stamps for the colony, issuing a set
of seventeen stamps (Scott #19-35). All of the high values of the set from the 30 centimes and up are scarce, but the key is the 35c (Scott #32). It is also the only stamp from the set on which it is worth purchasing expertization. 700 were issued, and Scott '14 prices it unused at $525.- .
Many of the better early stamps of St. Pierre and Miquelon are grossly undervalued, possibly because they're all overprints, necessitating enduring the inconvenience and expense of obtaining certificates. It's a temporary dampening factor, in my opinion, and as the market grows and becomes more sophisticated, it will matter less.
Those interested in learning about investing in stamps should read the Guide to Philatelic Investing ($5), available on Kindle and easily accessible from any computer.