Phila-Trivia: Latvia's Map Stamps

  

   The story of Latvia's first stamps shows the adaptability and ingenuity of a new nation following the devastation of the First World War. 

   Latvia was invaded repeatedly by Germany and Russia during World War I. Germany’s defeat and the Russian Revolution weakened both countries, thus enabling Latvia to declare independence, which it did on November 18, 1918, one week after World War I ended. The war had caused a severe paper shortage but there was one source of top-quality paper –  military maps left behind by Germany’s Imperial Army. Latvia’s industrious government printed its first stamps on the backs of these maps.

  To save precious paper, stamps were printed in 12 rows of 19 stamps each for a total of 228 stamps per sheet.  On the reverse, each German military map features a section of Latvia, complete with name, scale and map grid position.

   A total of only 11,956 sheets were printed.  Of those, only about 4,900 were perforated.   4,750 sheets were delivered to Latvia’s government in the period between 1918 and 1919.  The shipment included imperforate gummed sheets (Latvia Sc. #1), and perforated gummed sheets (Latvia Sc. #2). After the Latvia Post began operations, the Bolsheviks invaded the capital city of Riga.  An unknown quantity of Latvian map stamps survived the destruction.

The Stamp Auction Bidders and Consignors Union (SABACU) is a forum for discussing stamp auctions, and represents the interests of stamp auction bidders and consignors in their dealings with stamp auctioneers. All stamp collectors and dealers are welcome to join.   
 

Stamp Investment Tip: Fiji 1870-71 First Issues (Scott #1-10)

   I'm initiating coverage of Fiji by beginning with its first issues, the 1870-71 "Newspaper" stamps (Scott #1-5, 6-10). The British colony's first postage service to outlying islands was started by a newspaper, the Fiji Times, whose agents delivered mail to the public. These stamps were crudely printed and rouletted, and all are very scarce, with 600 of each of the 1870 issue and 1,200 of each of the 1871 stamps issued. Scott '14 prices for unused range from  $1,200.-   to  $4,400.-  . The stamps were issued in sheetlets containing all denominations, but I haven't been able to find catalog values or realizations for the strips containing one of each.

   Reprints and forgeries exist of these stamps, so they should be purchased conditional on obtaining expertization. They are often found with defects, so attempt to purchase them in F-VF OG condition.

   While I don't expect a significant stamp market to develop in Fiji in the near future, these stamps represent conservative investments in the growth of British Commonwealth collecting.

   Now an independent republic of 850,000 citizens, Fiji is endowed with forest, mineral, and marine resources, It is one of the more developed of the Pacific island economies, though still with a large subsistence sector. Natural resources include timber, fish, gold, copper, offshore oil, and hydropower. Sugar exports and a rapidly growing tourist industry – with tourists numbering 430,800 in 2003 and increasing in the subsequent years – are the major sources of foreign exchange. Annual GDP growth has been flat over the last 5 years due to the global financial crisis, though it is beginning to recover.

   The Stamp Auction Bidders and Consignors Union (SABACU) is a forum for discussing stamp auctions, and represents the interests of stamp auction bidders and consignors in their dealings with stamp auctioneers. All stamp collectors and dealers are welcome to join.   
 

Stamp Investment Tip: Syria 1938 Nogues Flight Anniversary (Scott #C88, C88a)

 In 1938, Syria issued a stamp and souvenir sheet celebrating the tenth anniversary of pilot Maurice Nogues' first flight from Marseilles to Beirut (Scott #C88, C88a). 30,000 of the stamp and 10,000 of the souvenir sheet were issued, and Scott '14 prices them unused at $ 5.00  and $50.00, respectively.

   The issue has multiple market appeal among collectors of Syria, French Colonies/Possessions, and Transportation/Aerophilately Topicals.

It is unclear how the current turmoil in Syria will be resolved. Nevertheless, there are many scarce issues from the period of French Administration which should do well based on the growth of French Colonies/Area collecting alone. Should the country wind up with a more democratic government and more fully compete in the global marketplace, all of the stamps of Syria with low printings will skyrocket, including many of the modern issues with printings of 50,000 or fewer, which are dirt-cheap.

Before the current civil war, the Syrian Arab Republic, a nation of 22.5 million people, was a middle-income country, with an economy based on agriculture, oil, industry, and tourism. It had low rates of foreign investment, and low levels of industrial and agricultural productivity. Until the recent revolt, the somewhat corrupt and authoritarian government was slowly reforming its centrally planned economy in hopes of attracting new investment in the tourism, natural gas, and service sectors. Average annual GDP growth was a little over 4%, but the extent to which that growth benefited the population as a whole was unclear.

Those interested in learning about investing in stamps should read the Guide to Philatelic Investing ($5), available on Kindle and easily accessible from any computer.   

Stamp Investment Tip: Mexico 1945 Peace Theater Reconstruction (Scott #801-04,C148-52)

In 1945, Mexico issued a compound set of stamps celebration the reconstruction of the Theater of Peace (Scott #801-04,C148-52). 15,000 sets were issued, and Scott '14 prices the unused set at $51.65.

The set has appeal as an Art/Architecture topical.

With a population of about 109 million,  Mexico has a diverse and developing economy, but modernization remains a slow and uneven process. Current challenges include addressing income inequality, crime, corruption, upgrading the infrastructure, and reforming tax and labor laws. Annual GDP growth has averaged about 2% over the last five years, which takes into account a contraction of 6.5% in 2009 due to the global financial crisis. Stamps of Mexico are popular among collectors in the U.S. as well as in Mexico, and those who wish to learn more about Mexican stamps should consider joining the Mexico Elmhurst Philatelic Society International (M.E.P.S.I.). MEPSI provides many useful services for collectors of Mexico, including expertizing Mexican stamps.

  "The Stamp Specialist" blog features buy prices for stamps which I am interested in purchasing. The buy list for Mexico 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.

Stamp Investment Tip: Spain 1938 Battle of Lepanto Souvenir Sheets (Scott #B108M-B108N, B108O-B108P)

   In 1938, the Nationalist forces under General Francisco Franco were winning over the Republicans fighting the Spanish Civil War, and several semi-postal souvenir sheets were issued which emphasized the Nationalists' patriotism, and ties to the Catholic Church. Among these were four souvenir sheetsm each containing one stamp, commemorating the Battle of Lepanto, a decisive naval battle in which Spain and other states decisively defeated the main fleet of the Ottoman Empire. 45,000 sets of two perforated sheets and 5,000 sets of two imperforate versions were issued (Scott #B108M-B108N, B108O-B108P), and and Scott '14 prices them unused at $45.- ($77.50 for NH) and $800.- ($1,300.- for NH), respectively.

    The sheets should do well based on the growth of stamp collector demand in Spain, as well as among Religion, Military/Naval, and Ship topicalists. 

    I strongly favor all scarce and undervalued issues of Spain and its colonies. The nation has 46 million people, the 9th largest economy in the world, and the most rapidly aging population in Europe, a trend which favors the growth of stamp collecting. Spain was hit by the global financial crisis and its annual GDP growth has been flat for five years, though the economy is beginning to recover.

   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.    

Stamp Investment Tip: South Korea 1955 Reconstruction Presentation Sheets (Michel Block 78-80, Scott 212Note))

   From 1948 to 1958, South Korea issued presentation sheets featuring the designs of its regular postage stamps. These ungummed, often crudely produced sheets were issued  in very low quantities and given to dignitaries, including friends of the President, as the country was not completely devoid of cronyism. The Michel catalog lists these sheets, but Scott does not, although it mentions them. They frequently sell at auction for between 10% and 20% of Michel, and I consider them grossly undervalued due to the uncertainty about their legitimacy. They were issued during a period of war and the gradual recovery from it, when the country was very poor, and they are as scarce as hen's teeth.

   In 1955, South Korea issued a set of three presentation sheets picturing symbols of industrial reconstruction (Michel Block 78-80, Scott 212Note). 1,000 sets were issued, and Michel prices it at 1,140.- Euros (about $ 1,500.-). I recommend purchase of the set if it offered at around $150 to $300 (10%-20% of Michel CV).

  A nation of about 50 million people, South Korea is one of the fastest growing economies in the world. Currently, it is the world's 13th largest economy and eighth largest exporter. It's export-fueled economic growth has led to a miraculous explosion in its GDP, from almost nothing 50 years ago to about $1 trillion today. Annual GDP growth has averaged about 4% over the last 5 years, reflecting a slowdown in 2009 due to the global financial crisis. Furthermore, South Korea may be the most rapidly aging nation on earth, as its 65+ population is expected to more than quadruple from 9% in 2005 to 38% in 2050. Obviously, this could pose economic challenges for the country, but it will almost certainly add to its stamp collecting population.

    Those interested in viewing a list of scarce stamps with printing quantities of 100,000 or fewer may wish to check out the StampSelector Scarce Stamp Quantities Issued List, which currently contains over 9,700 entries. Researching quantities issued data is vital to determining in which stamps to invest.

Stamp Investment Tip: Portuguese India 1957 Map Issue (Scott #552-59)

   The Indian stamp market continues to warm, although as yet it has not become as white-hot as China's, and there are still some areas which remain neglected.

   One such area is Portuguese India. Both the Portuguese and the French held some territory in India, while the British dominated the rest of it. Both of the lesser colonial powers in India issued stamps which are, for the most part, neglected by Indian collectors, and which have potential multiple market appeal in India, their home countries, and among collectors of European colonies. Interestingly, the Portuguese held out the longest of the three, and issued stamps for their colony until India seized it in 1961, ending the occupation. It isn't the only time that obsolescent imperial visions of grandeur have benefited philatelists.

   In 1957, Portugal issued a set of eight stamps for its colony, picturing a map of its territory in India (Scott #552-59). 50,000 sets were issued, and Scott '14 prices the unused set at $11.75  .

   The set has multiple market appeal to collectors of Portuguese India, Portuguese Colonies, and India, as well as to Map Topicalists, a small but growing cohort.

  Those interested in learning about investing in stamps should read the Guide to Philatelic Investing ($5), available on Kindle and easily accessible from any computer.    

Stamp Investment Tip: Colombia 1954 St. Peter Clavier Souvenir Sheet (Scott #C258a)

  In 1954, Colombia issued a souvenir sheet honoring the 300th Anniversary of St. Peter Clavier's death (Scott #C258a). 10,000 sheets were issued, and Scott '14 prices the unused sheet at $8.00.

   The sheet has appeal as a Religion topical and an Art/Architecture topical. It is grossly undervalued.

A nation of 45 million people, Colombia has been plagued by decades of serious internal armed conflict, drug trafficking, corruption, and gross inequities of income, but has nevertheless racked up annual GDP growth averaging over 4% over the last 5 years. Moreover, until the global financial fiasco cut its GDP growth to 3% in 2009, it had been steadily accelerating, from 2% in 2003 to 8% in 2008. Recently, the government, armed to the teeth by the U.S., has applied a dual policy of combining military pressure with negotiations to cope with the various guerrilla factions within the country. This seems to have worked to some extent, as the number of insurgents has been halved, and the number of homicides and kidnappings drastically reduced. While some argue that the Colombian government is still utterly corrupt, and has violated human rights and supported paramilitary death squads in order to achieve relative peace, it may be that this is par for the course, given the nation's history. A dialogue between the Colombian government and guerrillas of the FARC-EP began in 2012 with the aim to find a political solution to the armed conflict. The Colombian government and rebel groups met in Cuba, and as of November 2013, the talks have been promising. The Government also began a process of assistance and reparation for victims of conflict.The main challenge that the country faces will be that of sharing more of the wealth with the majority of the population so as to develop more of a middle class and political center. Otherwise, it will devolve into a violent, unstable mess.

"The Stamp Specialist" blog features my buy prices for stamps which I am interested in purchasing. I've posted a buy list for Colombia. Viewing dealers' buy lists every now and then is an excellent way to keep up with the vagaries of the stamp market.

Stamp Investment Tip: New Hebrides (British) 1924 5p on 2 1/2p Inverted Surcharge (Scott #39a)

 New Hebrides, an island group in the South Pacific now forms the nation of Vanuatu. The colony was administered as a condominium, a rare form of colonial territory in which sovereignty was shared by two powers, in this case Britain and France. 

   The first British issues were Fiji Edward VII stamps overprinted for use on the islands. These were followed by the Native Idols stamps of 1911, some of which were surcharged over the next 13 years when certain denominations were in short supply.

   In 1924, three stamps were surcharged  (Scott #38-40 ;Scott '14 CV for unused = $ 17.50). The scarcest of the values was the 5p on 2 1/2p Ultramarine (#39), of which 20,820 were issued. While this set is worth considering,  there also exists a rare inverted surcharge (39a), which Scott '14 prices unused at $3,250.-. Quantities issued information is unavailable for this error, but I'm guessing that one or two sheets of 50 went through the overprinting machine upside-down. As with most rare overprinted issues, this stamp should be purchased conditional on obtaining expertization.

    The Republic of Vanuatu has about 100,000 citizens, so I think it unlikely that a significant collector population will develop there. However, due to the former dual colonial administration, New Hebrides stamps appeal to both collectors of British Commonwealth and French Colonies.

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.