Stamp Investment Tip: Niger Coast Protectorate 1892 Overprint (Scott #1-6)

   The Niger Coast Protectorate, a territory originally known as the Oil Rivers Protectorate, was a typical colonial "company territory" managed by the Royal Niger Company. The Company controlled the territory's land, resources, and people for the enrichment of its shareholders. It surrendered its charter to the Crown in 1899, and the Protectorate was then incorporated into the two new territories of Northern and Southern Nigeria, which were combined to form the colony of Nigeria in 1914.

   During its seven-year existence, the Protectorate issued 63 stamps (plus varieties), including some notable rarities. Among the more affordable and accessible is its first issue, the 1892 Overprints (Scott #1-6), which were created by overprinting some of the stamps from Great Britain's 1887-92 Victoria Issue. Only 6,720 sets were issued, and Scott '14 values the set unused at $155.75.  While I usually recommend obtaining expertization on scarce overprinted stamps, in this case doing so is unnecessary because the non-overprinted British stamps are actually more expensive, though far more common.

   Stamps of Niger Coast Protectorate have the potential for dual market appeal among collectors of British Commonwealth and Nigeria.

   A nation of over 154 million people, Nigeria is an an emerging market country, and is rapidly approaching middle income status, with an abundant supply of resources, well-developed financial, legal, communications, transport sectors, and a stock exchange which is the second largest in Africa. It is the eighth largest exporter of petroleum in the world. GDP growth has averaged almost 6% over the last 5 years. However, the country also has major problems, including corruption, human rights abuses, grossly unequal distribution of income, and internal religious and tribal conflicts.

Based purely on the growth of demand from British Commonwealth collectors, the set represents a conservative investment with little downside risk. Should Nigeria develop even a modest base of stamp collectors, the set will soar.

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: Lagos 1882-1902 Victoria (Scott #13-38)

 From 1882-1902,  Lagos, a British Protectorate which later became part of Nigeria, issued a set of twenty six stamps picturing a young Queen Victoria for Lagos (Scott #13-38). The Scott Catalog doesn't treat this issue as a set, because there were at least two types of many of the stamps issued. Many of its stamps are quite undervalued, and one could do worse than attempting to form a small specialized collection comprising the set, its varieties, covers, etc..

I've listed those stamps from the set with issuance quantities known (or quantities remaining after supplies were destroyed by postal authorities) of 100,000 or less, and included the Scott '14 values for unused.

•  2p Gray(Scott #17) 41,780 - $ 90.-
•  3p Orange Brown (#20) 24,540 - $ 26.-
•  3p Lilac and Brown Orange (#21) 143,820 (believed destroyed: 85,800) - $ 3.-
•  4p Rose (#22) 36,240  - $ 200.-
•  4p Violet (#23) 41,760  - $ 150.-
•  5p Lilac and Green (#25) 92,160 (believed destroyed: 57,540) - $ 3.-
•  6p Olive Green (#26) 22,500  - $ 9.-
•  6p Lilac and (Red Violet or Carmine Rose #27 and #28) Total for both: 86,340  (believed destroyed: 23,400) - #27: $ 5.50, #28: $ 5.75
•  7 1/2p Lilac and Carmine (#29) 55,620- $ 3.25
• 10p Lilac and Yellow (#30)  43,380 (believed destroyed: 23,100) - $ 3.75
• 1sh Orange (#31) 22,200 - $ 14.-
• 1sh Yellow Green and Black (#32)  86,460 (believed destroyed: 26,220) - $ 6.50
• 2sh6p Olive Brown (#33) 900  - $ 375.-
• 2sh6p Green and Carmine Rose (#34)  28,260 (believed destroyed: 18,060) - $ 27.50
• 5sh Blue (#35) 600 - $ 700.-
• 5sh Green and Ultramarine (#36)  28,320 (believed destroyed: 18,900) - $ 47.50
• 10sh Brown Violet (#37 - the set's key stamp) 420  - $ 1,700.-
• 10sh Green and Brown (#38) 24,720 (believed destroyed: 13,620) - $ 110.-

Stamps of Lagos have the potential for a strong dual market among collectors of British Commonwealth and Nigeria.

A nation of over 154 million people, Nigeria is an an emerging market country, and is rapidly approaching middle income status, with its abundant supply of resources, well-developed financial, legal, communications, transport sectors and stock exchange (the Nigerian Stock Exchange), which is the second largest in Africa. It is the eighth largest exporter of petroleum in the world. GDP growth has average almost 6% over the last 5 years. However, the country also has major problems, including corruption, human rights abuses, grossly unequal distribution of income, and internal religious and tribal conflicts.

Based purely on the growth of demand from British Commonwealth collectors, this set and its scarcest  values (#33,33, and 37) represent a conservative investment with little downside risk. Should Nigeria develop even a modest base of stamp collectors, it will soar.

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: Niger Coast Protectorate 1897-98 Victoria (Scott # 55-63)

The Niger Coast Protectorate, a territory originally known as the Oil Rivers Protectorate, was a typical colonial "company territory" managed by the Royal Niger Company, which controlled the land, its resources, and its people, for the betterment of its shareholders. The company surrendered its charter to the Crown in 1899, and the Protectorate was incorporated into the two new territories of Northern and Southern Nigeria, which were combined to form the colony of Nigeria in 1914. During its seven-year existence, the Protectorate issued 63 stamps (plus varieties), including some notable rarities. Among the more affordable and accessible is its last issue, the 1897-98 Definitives (Scott #55-63), the third such issue with a design portraying an elderly Queen Victoria. Only 5,500 sets were issued, and Scott '10 values the set unused at $ 193.25 .

Stamps of Niger Coast Protectorate have the potential for dual market appeal among collectors of British Commonwealth and Nigeria.

A nation of over 154 million people, Nigeria is an an emerging market country, and is rapidly approaching middle income status, with an abundant supply of resources, well-developed financial, legal, communications, transport sectors, and a stock exchange which is the second largest in Africa. It is the eighth largest exporter of petroleum in the world. GDP growth has averaged almost 6% over the last 5 years. However, the country also has major problems, including corruption, human rights abuses, grossly unequal distribution of income, and internal religious and tribal conflicts.

Based purely on the growth of demand from British Commonwealth collectors, the set represents a conservative investment with little downside risk. Should Nigeria develop even a modest base of stamp collectors, the set will soar.

Those interested in becoming part of an international community of stamp collectors, dealers, and investors are welcome to join the "Stampselectors" group at Facebook. The group hosts lively discussions concerning stamp investment and practical aspects of collecting, as is also an excellent venue for those who wish to buy, sell, or trade stamps.

Stamp Investment Tip: Lagos 1904 Edward VII Issue (Scott #40-49)

In 1904, Lagos, a British Protectorate which later became part of Nigeria, issued a set of definitives picturing Edward VII (Scott #40-49). Only 720 sets were issued, based on the printing quantity of the 10sh high value (Scott #49), and Scott '10 prices the unused set at $ 694.10 . The 2sh6p and 5sh values (Scott #47 and 48) are also scarce, with printing quantities of 1,440 and 1,680 respectively.


Stamps of Lagos have the potential for a strong dual market among collectors of British Commonwealth and Nigeria.

A nation of over 154 million people, Nigeria is an an emerging market country, and is rapidly approaching middle income status, with its abundant supply of resources, well-developed financial, legal, communications, transport sectors and stock exchange (the Nigerian Stock Exchange), which is the second largest in Africa. It is the eighth largest exporter of petroleum in the world. GDP growth has average almost 6% over the last 5 years. However, the country also has major problems, including corruption, human rights abuses, grossly unequal distribution of income, and internal religious and tribal conflicts.

Based purely on the growth of demand from British Commonwealth collectors, the Lagos 1904 Edward VII set and its high values represent a conservative investment with little downside risk. Should Nigeria develop even a modest base of stamp collectors, the set will soar.