Stamp Investment Tip: Venezuela 1932-38 Simon Bolivar (Scott #293-304)

From 1932 to '38, Venezuela issued a definitive set picturing Simon Bolivar, and printed on bluish Winchester security paper to prevent counterfeiting (Scott 293-304). 42,000 were issued, and Scott '11 values the set at $117.85 for unused. Issued over a period of seven years when few people were collecting Venezuela, most sets were probably used as postage and discarded. Perhaps a few thousand remain. The set is yet another example of a grossly undervalued issue of Latin America, which should do very well as the region continues its economic development.

With a population of about 26 million, Venezuela is resource-rich, and consistently ranks among the top ten oil producers in the world. Annual GDP growth has averaged almost 10% over the last 5 years, although it has been decelerating recently due to lower oil prices. Under Chavez-style quasi-socialism, the percentage of Venezuelans living below the poverty line has decreased from 48% in 2002 to 30% in 2006. The country has begun diversifying its economy away from its current near-total dependence on petroleum exports, and has spawned a rapidly growing manufacturing sector.

I have begun a new blog, "The Stamp Specialist", featuring my buy lists for stamps which I wish to purchase, including the set recommended in this article.Periodically viewing dealers' buy lists
is an excellent way to remained informed about the state of the stamp market.


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