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: Syria 1937 Airmails (Scott #C80-87)

In 1937, Syria issued a set of  eight airmail stamps picturing a plane flying over historic buildings (Scott #C80-87). 39,000 sets were issued, and Scott '13 prices the unused set at $16.45 .

It's likely that most of these stamps were used and discarded. The attraction of all better Syrian stamps issued by the French is that they have dual market appeal to collectors of Syria and French Colonies.

It is unclear how the current turmoil in Syria will be resolved. Nevertheless, there are many scarce issues from the French period which should do well based on the growth of French Colonies/Area collecting alone. Should the country ever 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.

The Syrian Arab Republic, a nation of 22.5 million people, is (or was) a middle-income country, with an economy based on agriculture, oil, industry, and tourism. It has low rates of foreign investment, and low levels of industrial and agricultural productivity. Until the current civil war, 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 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, and provide a useful venue for those who wish to buy, sell, or trade stamps.

Stamp Investment Tip: There's Nothing Silly About Cilicia

During World War I, the British and the French occupied Cilicia, a territory of the Ottoman Empire, and in 1919, the administration of it was transferred to the French. It was later assigned to the French Mandated territory of Syria, but eventually reverted to Turkey.

From 1919 to '21, the French issued stamps for Cilicia by overprinting the Turkish stamps that they'd found in the local post offices. Fortunately for later stamp collectors insane enough to consider themselves philatelic investors, the French kept records of the quantities of many of the new stamps that they produced. Cilician stamps range from very rare to scarce, even for some of the cheapest ones, with quantities issued ranging from under 100 to 100,000, and with most with quantities issued in the thousands to low ten thousands. I've listed many of these in the StampSelector Scarce Stamp Quantities Issued List, on the French Colonies/Area page.

I believe stamps of Cilicia to be undervalued considering their scarcity and multiple market appeal to collectors of French Colonies, Turkey, and possibly Syria. Their main drawback (and a major reason for their undervaluation) is that they're all overprints, and fakes exist. Consequently, I recommend purchase of those stamps of Cilicia which catalog $200 or more, conditional on obtaining expertization, because the expertization cost is not justified for the less expensive stamps. Quantities issued on the stamps which cat. $200+ range from 50 (for the 1920 Airs) to 2,000.

I view the future growth of the Turkish economy and stamp market as the most likely catalyst for significant increases in the values of better stamps of Cilicia.

With a population of about 72 1/2 million, Turkey is perhaps the most culturally European of the Islamic nations, and a likely model for their modernization, economic development, and democratization. The country experienced rapid economic growth between 2002 and 2007, with GDP averaging 7.4%, but this slowed in 2008 to 5% and stalled in 2009 to 1%, due to the global financial crisis, from which the country is recovering. While traditional agriculture is still a pillar of the Turkish economy, it is becoming more dependent on industry. Key sectors include tourism, banking, construction, home appliances, electronics, textiles, oil refining, petrochemical products, food, mining, iron and steel, the machine industry, automotive, and shipbuilding. It is likely that in the future, Turkey will benefit from serving as an economic and cultural nexus connecting Europe, the Near East, and the Turkic (formerly Soviet) nations of Central Asia.

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: Syria 1920 Postage Dues (Scott #J5-8)

I'm initiating coverage of Syria by going straight to the "back of the book"- with the 1920 Postage Due set issued under French Occupation (Scott #J5-8). Only 7,000 sets were issued, and Scott '11 prices the unused set at $14.50.

It's likely that most of these stamps were used and discarded. The attraction of all better Syrian stamps issued by the French is that they have dual market appeal to collectors of Syria and French Colonies. As with many back-of-book issues, the Dues set has been overly neglected because of its relative obscurity.


It is unclear how the current turmoil in Syria will be resolved. Nevertheless, there are many scarce issues from the French period 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.

The Syrian Arab Republic, a nation of 22.5 million people, is a middle-income country, with an economy based on agriculture, oil, industry, and tourism. It has 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.