Stamp Investment Tip: Republic of China 1961 Chiang Kai-shek Souvenir Sheet (Scott #1319a)

In 1961, the Republic of China (Taiwan) issued a souvenir sheet celebrating the 1st anniversary of President Chiang Kai-shek's 3rd inauguration (Scott #1319a). Given the number of issues honoring Chiang Kai-shek, it would seem that the citizens of the R.O.C. were most grateful for the many years of their paternal dictator's leadership. 100,000 were issued, and Scott '12 values the unused souvenir sheet at $20.00.

Better stamps and souvenir sheets of the R.O.C. have done well over the last few decades, but the market has been cooler than that for stamps of the People's Republic. I believe that as capitalism and incremental democratization take hold in the P.R.C., relations between the "two Chinas" will gradually improve, as will demand for stamps of the R.O.C.. The process of thawing may have already begun: as of 2008, more than $ 150 billion has been invested in the P.R.C. by Taiwanese companies, and about 10% of the Taiwanese labor force works in the P.R.C., often to run their own businesses.


In the meantime, most of the demand for stamps of Taiwan will originate from collectors in Taiwan itself and among overseas Chinese (of which there are approximately 35 million). Taiwan, a nation of 23 million people, is one of the four "Asian Tigers," and has experienced explosive economic growth and industrialization over the last 5 decades. Annual GDP growth has averaged about 4% over the last 5 years, but this reflects the zero growth of 2009, a result of the global financial mess.

Those interested in learning more about investing in stamps are encouraged to read the Philatelic Investment Guide ($5), available on Kindle, and accessible from any computer.

Stamp Investment Tip: Venezuela 1951 Third Bolivarian Games Souvenir Sheet (Scott #C337a)

In 1951, Venezuela issued a souvenir sheet celebrating the Third Bolivarian Games (Scott #C337a). The Bolivarian Games are a regional multi-sport event held in honor of Simón Bolívar, and open to athletes from Bolivia, Colombia, Ecuador, Panama, Peru and Venezuela. 20,000 of the souvenir sheet were issued, and Scott '12 prices it unused at $20.00.

Aside from its appeal to collectors of Venezuela and Latin America in general, the souvenir should also do well as a Sports topical. The sheet is large and was issued on thin paper, so when purchasing it, ascertain that is free of bends and creases.


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 many items from Venezuela .Periodically viewing dealers' buy lists
is an excellent way to remained informed about the state of the stamp market.


Those interested in joining a community of stamp investors are welcome to join the "Stampselectors" group on Facebook. The group provides a valuable forum for those who wish discuss this blog, as well as trade or communicate with stamp collectors, dealers, and investors from all over the world.

Stamp Investment Tip: French Southern and Antarctic Territories 1967 20fr Rocket (Scott #29)

Four countries claim territory in the Antarctic and issue stamps for their territories. They are Australia (Australian Antarctic Territory), Great Britain (British Antarctic Territory), New Zealand (the Ross Dependency), and France (the French Southern and Antarctic Territories). Of these, the French territory, also known as French Antarctic and abbreviated as F.S.A.T. or T.A.A.F., is of most interest to philatelists, because most of the F.S.A.T. stamps were issued in modest quantities and many are beautifully engraved. Most stamps issued for the various Antarctic territories are sold to collectors, as only a few hundred scientists reside in research facilities in the Antarctic.

In 1967, the F.S.A.T. issued an attractive 20fr stamp in honor of the launching of the first space rocket from Adelie Land (Scott #29). 60,000 were issued, and Scott '12 prices the unused stamp at $26.00.

Demand for stamps of the French Antarctic is strong in France and among collectors of French Colonies/Area, and the Rocket stamp has the added appeal of being a Space topical. Despite its beauty and topical appeal, it has lagged behind some of the territory's other early issues with comparable printing quantities, some of which sell for 5 to 10 times as much.

General Commentary: How Green is Your Collection? The Case for Eco-Topicals

As man-made threats to the environmental health of the planet become more and more evident, it seems reasonable to assume that interest in collecting stamps which are thematically related to preserving the environment will also tend to increase. Though generally, the issuance of stamps which have subjects directly related to environmental preservation is a recent phenomenon, there are many topical areas which are indirectly related.

Among the earliest stamps issued which most directly relate to conservation are stamps of various countries celebrating the natural beauty of their national parks, such as the U.S. 1934-35 National Parks sets (Scott #740-49 and 756-65) and those of Japan (issued from 1936 on). While certain National Parks issues may warrant a closer look by investors, "scenes stamps" are not among the most popular topicals.

According to a recent survey taken by the American Topical Association (A.T.A.), the most popular stamp collecting topical among U.S. collectors is Animals, the fifth most popular is Flora, and the subgroups of Birds, Marine Life, and Insects are also very popular (at 7th, 12th, and 14th places, respectively). These topicals certainly are ec0-related, although it is possible that not all collectors who focus on them consider themselves environmentalists. Unfortunately, no similar survey has ever been taken internationally, but it seems likely that global interest in these topical areas is roughly the the same.

Collector demand for pro-conservation stamps which picture animals has bolstered the market for better recent stamps and souvenir sheets honoring the World Wildlife Fund issued by various countries. In the U.S., demand for Migratory Bird Hunting and Conservation Stamps, also known as "Duck Stamps", has remained strong, to the extent that their issuance has expanded beyond the Federal government to include many states and some Native American Tribal Lands. Since 1993, the Fish and Wildlife Service has also issued "Junior Duck Stamps", which are basically labels designed by teens and children, with no validity as revenues. The program has proven successful solely on the basis of sales to collectors, and some of these stamps have increased dramatically in value. Several of the earliest Junior Ducks currently retail for around $500 each, which is quite impressive when one considers that they're basically glorified cinderellas. All of the U.S. Duck stamp programs support environmental conservation, since the funds derived from the sale of the stamps are used to purchase wetlands, but to what extent this beneficial aspect affects collector demand is impossible to gauge.

In my opinion, the interest in topicals related to the environment will continue to increase, and the best way to benefit from the trend will be to aim for the scarcest stamps and souvenir sheets issued by countries with growing collector populations, thereby benefiting from growth in both demand for the topicals and the economic growth of the issuing countries.

Stamp Investment Tip: U.S. 1979 15c John Paul Jones, Perf 12 variety (Scott #1789B)

There are times when album or catalog publishers can significantly influence the stamp market, by virtue of a "tail wagging the dog" effect. Such is the case with a stamp which might have been considered a boring perforation variety, had they not stepped in and given the story a new spin.

In 1979, the U.S. issued a 15c stamp honoring John Paul Jones, the naval hero of the American Revolution. Two common perforation types of this stamp exist, perf. 11x12 and perf. 11 (Scott #1789 and 1789A). However, there also exists a scarce perf. 12 variety of this stamp (Scott #1789B). Scott '12 prices #1789B at $3,500.00, and fewer than 200 are believed to exist.

In most cases, modern imperforate and color-missing errors are listed as varieties of the basic stamps. Often, they are quite scarce, with fewer than 100 to a few hundred known, and these errors are far more visually striking than a perf variety, but for the most part, they are significantly less expensive than the John Paul Jones Perf. 12. The reason for this discrepancy involves a decision by album publishers.

Several popular albums include a space for #1789B, as if it were a completely different stamp, rather than just a variety. Consequently, a stamp collector purchasing one of these albums must endure the philatelic equivalent of Purgatory, staring at an empty space that demands to be filled.

As long as some album publishers continue to classify #1789B in this manner, it will increase in value for years to come. At the very least, it makes sense to get out the old perf gauge if one comes across a motley group of 15c John Paul Jones stamps.

Note that #1789B should be published conditional on obtaining expertization. Relatively inexpensive imperforate printer's waste exists for this issue, and there is the risk that someone may try to reperforate some of it, to produce bogus Perf. 12s.

Thanks to Bob Dumaine of Sam Houston Philatelics for providing much of the information used in this article.

Stamp Investment Tip: Bushire 1915 Issues (Scott #N1-29)

In 1915, the British briefly occupied the strategically located Iranian port of Bushire, and issued stamps by overprinting stamps of Iran (then known as Persia). The city had initially been occupied by the British during the Anglo-Persian War (1856-57), returned to Iran in 1913, and then re-occupied by the British who were attempting to counter the efforts by a German spy, Wilhelm Wassmuss (also known as the "Lawrence of Persia"), to foment a guerrilla war against Britain. Throughout the late 19th and early 20th centuries, Persia had been subjected to the "Great Game" - a geopolitical competition between Britain and Russia for supremacy in Central Asia.

The stamps of Bushire are scarce to rare, and quantities issued are known for the September, 1915 set (see the SSSSQIL- British Asia List). They have dual market appeal for collectors of both British Commonwealth and Iran, and as they are overprints, should be purchased conditional on obtaining expertization from either the Royal Philatelic Society of London or the British Philatelic Association.


Stamps of Iran are not widely collected at present, partly for political reasons and partly because of the ubiquity of fakes among the early overprinted issues. Nevertheless, it is an oil-rich nation (ranked second in both oil and natural gas reserves) of 76 million people, and there are signs that many of them are becoming fed up with the corrupt and reactionary theocracy that is isolating Iran from the rest of the world. Furthermore, it is beginning to diversify away from its dependence on oil into other industries, such as biotech, nanotech, and pharmaceuticals, and it has the potential to develop a thriving tourism sector, should it institute reforms and begin to improve its image.

Stamp Investment Tip: El Salvador 1940 Rowland Hill (Scott #586,C69-70)

In 1940, El Salvador issued a compound set commemorating the centenary of the first postage stamp, which was issued as a result of the efforts of Sir Rowland Hill (Scott #586, C69-70). Only 10,000 sets were issued, and Scott '11 prices the unused set at $36.50 .


Over the last decade or so, a "stealth bull market" has developed for better Latin American material, especially for scarce issues with wide topical appeal. Supplies have been gradually depleted, and many items which formerly retailed for about 20%-30% of Scott are now selling for 60%-80%, and their catalog values have substantially increased as well. Frequently, Michel Values, which are usually much higher than Scott for Latin America, are used by auction houses when listing this material. As the region has cast aside its authoritarian dictatorships and become more democratic, it has experienced healthy economic growth and the concurrent development of a middle class.

El Salvador, a nation of 5.7 million, is a poor though steadily developing economy, which has experienced annual GDP growth averaging 3.5% over the last 5 years. In addition, there are between 500,000 and 1 million Salvadorans in the U.S., most of whom immigrated during El Salvador's "Dirty War" of 1979-92. Salvadorans in the United States are among the hardest-working immigrants, and send about $800 million back to their families in El Salvador every year. Although Salvadoran Americans toil in the lowest-paying sectors of the American economy, they are slowly but inexorably becoming more prosperous. They work long hours, save a great deal, and are gradually entering the middle class.

While I believe it may take a while for a significant stamp collecting population to develop among Salvadorans, this is mitigated by the fact that many collectors of Latin American stamps collect the region generally, rather than specializing in a particular country.

I have begun a new blog, "The Stamp Specialist", which will feature wholesale buy prices for stamps which I am interested in purchasing. It includes a buy list for El Salvador, including the set recommended in this article. Viewing dealers' buy lists every now and then is an excellent way to keep current on the vagaries of the stamp market.

Stamp Investment Tip: Austria 1931 Rotary Issue (Scott #B87-92)

In 1931, Austria issued a set of six semi-postal stamps in celebration of the Rotary International Convention, held in Vienna (Scott #B87-92). 50,000 sets were issued, and Scott '12 prices the unused set at $180.00 ($575.00 for NH). The non-postal portion of the set's cost went to benefit the charitable works of the Rotary International organization.

As a topical category, Rotary on Stamps is intriguing, because there are over 1.2 million Rotarians worldwide, many of whom are affluent, and there have been over 2,000 Rotary-related stamps issued by various countries. There is even a Rotary on Stamps Fellowship. The stated purpose of Rotary International is to bring together business and professional leaders to provide humanitarian service, encourage high ethical standards in all vocations, and help build goodwill and peace in the world.

Even without the boost from its topical appeal, the set makes a good conservative investment, which should do well over the long run based on growth of the Austrian stamp market.

Austria, a nation of 8.3 million people, is one of the 12 richest countries in the world in terms of GDP per capita, with a well-developed social market economy and a high standard of living. Alongside its highly developed industries, international tourism is the most important part of the national economy. Germany has historically been the main trading partner of Austria, making it vulnerable to rapid changes in the German economy. However, since Austria became a member state of the European Union it has gained closer ties to other European Union economies, reducing its economic dependence on Germany. In addition, membership in the EU has drawn an influx of foreign investors attracted by Austria's access to the single European market and proximity to the emerging economies of the European Union. Annual GDP growth has averaged 1.5% over the past 5 years, reflecting a recent contraction due to the global financial crisis.

Stamp Investment Tip: Republic of China 1952 Land Tax Reduction (Scott #1046-51)

In 1952, the Republic of China (now known as Taiwan) issued a set celebrating the reduction of the land tax (Scott #1046-51), as well as a special imperforate version of the set (Scott #1046-51Note). 80,000 of the normal, perf. set and 20,000 of the imperf. set were issued, and Scott '12 values them unused at $351.00 and $1,100.- respectively.

Both should do well as the stamp markets in both Chinas continues to develop. Although fewer of the imperforate set were issued, these were generally not used as postage, and it is likely that many of the perf. sets were used as postage and discarded.

Better stamps and souvenir sheets of the R.O.C. have done well over the last few decades, but the market has been cooler than that for stamps of the People's Republic. I believe that as capitalism and incremental democratization take hold in the P.R.C., relations between the "two Chinas" will gradually improve, as will demand for stamps of the R.O.C.. The process of thawing may have already begun: as of 2008, more than $ 150 billion has been invested in the P.R.C. by Taiwanese companies, and about 10% of the Taiwanese labor force works in the P.R.C., often to run their own businesses.

In the meantime, most of the demand for stamps of Taiwan will originate from collectors in Taiwan itself and among overseas Chinese (of which there are approximately 35 million). Taiwan, a nation of 23 million people, is one of the four "Asian Tigers," and has experienced explosive economic growth and industrialization over the last 5 decades. Annual GDP growth has averaged about 4% over the last 5 years, but this reflects the zero growth of 2009, a result of the global financial mess.