In 2003, Armenia issued a stamp honoring achievements in Neurophysiology (Scott #682 ). 20,000 of this medical topical stamp were issued (in 2,000 sheets of 10), and Scott '11 prices the unused stamp at $1.10.For reasons noted in an earlier article, I am bullish on all scarce Medical topicals. The set makes an interesting and very low-risk speculation based both on its topical appeal, and as a bet on the economic growth of Armenia and the development of a stamp market there. This recommendation is consistent with my belief that one of the best ways to play the new and newly resurrected countries of Europe and Asia is to focus on popular topicals with low printings.
Armenia, a nation of about 3.2 million, has made steady economic progress in the face of a number of obstacles, including its legacy of dependence on the Soviet Union as a centrally planned economy, a catastrophic earthquake, and an unresolved conflict with Azerbaijan over the Nagorno-Karabakh region. Major economic sectors include agriculture, chemicals, electronics, machinery, and mining, and new industries, such as precious stone processing and jewellery making, information and communication technology, and even tourism are beginning to develop. The economy is also bolstered by investment and support from 5.7 million Armenians living abroad. Annual GDP growth has averaged just under 7% over the last 5 years.
Good post, Alex. I'm bullish on the Eastern European complex as a whole. I like Armenia in particular, because they have a very conservative stamp-issuing policy. They put out 20 or so issues a year, with a total $ face value well under $20, and most of the commemorative issues have print runs of only 30 to 70 thousand. For a new issue collector looking for an affordable country to collect, with a reasonable output of stamps, with a real potential for appreciation in value, I think Armenia makes a good choice.
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