In 1956, Panama issued a set of twelves stamps picturing various popes (Scott #403Note). The quantity issued is not known; however, I would guess that no more than a few thousand sets were issued. Scott '14 prices the unused set at $100.- .
The set was not intended to be used as postage, and consequently Scott notes it but does not assign it a catalog number. Despite this, it has obvious appeal as a Religion topical.
As with all Latin American stamps, there are many collectors who focus on the region as a whole, which supplements demand for the stamps of the individual countries.
A nation of 3.4 million people, Panama is the fastest growing economy and the largest consumer per capita in Central America. Panama's economy, because of its key geographic location, is mainly based on a well developed service sector heavily weighted towards banking, commerce, tourism, trading. The handover of the Canal and military installations by the United States has given rise to large construction projects. Tourism has grown rapidly during the past 5 years due to the government offering tax and price discounts to foreign guests and retirees. The country also has valuable copper and gold deposits, which are beginning to be developed. Annual GDP growth has averaged over 7% over the last 5 years.
"The Stamp Specialist" blog features my buy prices for stamps which I am interested in purchasing. I've posted a buy list for Panama. 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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