Sunday, September 21, 2014
In 1931, New Guinea issued its first airmail by applying a pictorial overprint to its1925-28 Native Huts issue (Scott #C1-13). A total of 4,020 sets were issued, and Scott '14 prices the unused set at $311.70.
While it's often wise to purchase expensive overprinted stamps conditional on obtaining expertization, such caution is unnecessary because in this case the basic non-overprinted set is actually more expensive.
Papua New Guinea is richly endowed with natural resources, but exploitation has been hampered by the rugged terrain and the high cost of developing infrastructure. Agriculture provides a subsistence livelihood for most of the population of about 7 million. Annual GDP growth has increased dramatically over the last 5 years, from 1% in 2005 to about 7% in 2009. Still, the majority of the population is extremely poor, and I do not foresee the development of a significant collecting population within the country for some time.
Most of the collectors of Papua New Guinea are British Commonwealth collectors or Australians, because the country was administered by Australia until 1975 and maintains close ties with that nation. I recommend purchase of the better stamps of Papua, New Guinea, and Papua New Guinea based on the probable growth in interest among Australian collectors and collectors of British Commonwealth.
Those interested in becoming part of an international community of stamp collectors, dealers, and investors are encouraged to join the "Stampselectors" group at Facebook. The group hosts lively discussions concerning stamp investment and practical aspects of collecting, and provides a useful venue for those who wish to buy, sell, or trade stamps.