In 1907, Peru issued a set of nine stamps picturing monuments and buildings (Scott #168-76). Only 2,000 sets were issued, and Scott '12 prices the unused set at $493.10. In all probability, the vast majority of sets were used as postage and discarded, and it would not surprise me if there were fewer than 500 remaining.
Peru has issued a number of undervalued sets, which I intend to cover in the future. Demand for the country's stamps is boosted by the tendency of many collectors to focus on Latin America as a region.
With a population of 29 million, Peru is an emerging market nation which has experienced significant economic growth over the last 15 years, and annual GDP growth averaging 7.2% over the last 5. Major exports include copper, gold, zinc, textiles, and fish meal. In 2010 Peru's per capita income is about $10,000. Poverty has steadily decreased since 2004, when nearly half the country's population was under the poverty line, although great inequities in income distribution persist. As the trend continues and more Peruvians join the middle class, the country's better stamps should do very well.
I have begun a new blog, "The Stamp Specialist", which will feature wholesale buy prices for stamps which I am interested in purchasing. I've posted a buy list for the Peru, and it includes 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.
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