Stamp Investment Tip: Lebanon 1954 Khalde International Airport (Scott #C193-96)

  In 1954, Lebanon issued a set of four airmail stamps celebrating the opening of Khalde International Airport in Beirut (Scott #C193-96). 15,000 sets were issued, and Scott '14 prices the unused set at $14.50 . It is likely that most of the sets were used as postage and discarded.

   The set has multiple market appeal among collectors of Lebanon, French Colonies/Area, and Transportation topicals.


 Lebanon, a nation of 4.2 million people, is noted for its commercial enterprise. Over the course of time, emigration has yielded Lebanese "commercial networks" throughout the world. As a result, remittances from Lebanese abroad to family members within the country total $8.2 billion and account for one fifth of the country's economy. The country has the largest proportion of skilled labor among Arab States. The tourism and banking sectors are the the most important pillars of the Lebanese economy, though they have at times been disrupted by political instability. Annual GDP growth has averaged about 4.8% over the last 5 years.

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: Solomon Islands 1908-11 War Canoe (Scott #8-18)

   I'm initiating coverage of the Solomon Islands by recommending purchase of its 1908-11 War Canoe set (Scott #8-18). While I considered "beginning at the beginning" with the first set (Scott 1-7), which is also very scarce, excellent counterfeits exist of the first set (while they don't of the second), and it isn't expensive enough to make expertization worthwhile. 5,460 of the second War Canoes set were issued, and Scott '14 prices it unused at $ 272.- .

   The islands were a British protectorate until 1976, and early Solomon Islands issues appeal mainly to collectors of British Commonwealth as well as Australian collectors, because Australia has close ties to the Solomons. The later issues that are worth considering are mostly topicals.

  There are just over half a million Solomon Islanders, and the Islands' per-capita GDP of $600 ranks it as a lesser developed nation. More than 75% of its labor force is engaged in subsistence and fishing. The islands are rich in undeveloped mineral resources such as lead, zinc, nickel, and gold. Tourism, particularly diving, is an important service industry for Solomon Islands. Growth in that industry is hampered, however, by lack of infrastructure and transportation limitations. Over the last five years, annual GDP growth has averaged about 5%.
  
   I view the set as an inexpensive, conservative bet based on prospects for increased demand among British Commonwealth and Australian collectors.

  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: 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: French Southern and Antarctic Territories 1968 Space Exploration (Scott #C16a)

   Of the seven countries which claim territories in the Antarctic, four issue  stamps for them. They are: Great Britain (British Antarctic Territory), Australia (Australian Antarctic Territory), New Zealand (the Ross Dependency), and France (the French Southern and Antarctic Territories). Of these, the French territory, also known as French Antarctic is of most interest to philatelists, because most of the F.S.A.T. stamps were issued in modest quantities and many are beautifully engraved. Most stamps issued for the various Antarctic territories are sold to collectors, as only a few hundred scientists reside in research facilities there.

In 1968, the F.S.A.T. issued a set of two stamps honoring France's Dragon Rockets (Scott #C15-16), which should be bought as a triptych (Scott #C16a). 45,000 sets were issued, and Scott '14 prices the unused triptych at $40.- .

Demand for stamps of the French Antarctic is strong in France and among collectors of French Colonies/Area and Polar Topicals worldwide, and the triptych  has obvious appeal as a Space Exploration and Transportation topical. 

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: U.S. 1925 Norse-American Issue (Scott #620-21)

 In 1925, the U.S. issued a set of two stamps celebrating the 100th Anniversary of the arrival of the sloop "Restaurationen" with the first group of immigrants from Norway (Scott #620-21). About 9.1 million of #620 and 1.9 million of #621 were issued, and Scott '13 prices the unused set at $13.25  ($26.50  for NH).

  These stamps have appeal to both Scandinavian-American collectors and collectors of Transportation/Ship topicals. The printing quantities were higher than for most of the stamps that I normally recommend; however, I am not recommending purchase of the basic set.

  Of the 1.9 million sets issued, it is likely that at least 90%-95% were used as postage and discarded, leaving perhaps 100,000 to 200,000 sets remaining. The stamps were issued in sheets of 100, with one plate block of 8 and one center line block per sheet, of which perhaps 1,000 to 2,000 of each remain. The plate blocks of 8 are pricey (CV of 180.-/275.-NH for #620, and 450.-/750.- NH for #621), but the center line blocks are overlooked and undervalued (CVs of $16.-/22.50 NH for #620, and 70.-/125.- NH for #621).

   While it's certainly true that plate blocks are more popular than center line blocks, I feel that the center line blocks of this issue, which sell for a relatively minor premium over the price of the basic stamps, are a much greater bargain.

The Stamp Auction Bidders and Consignors Union (SABACU) provides a venue 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: Hungary 1947 Stamp Day Souvenir Sheet (Scott #B202)

In 1947, Hungary issued a semi-postal souvenir sheet commemorating Stamp Day (Scott #B202, sheet of four). 40,000 souvenir sheets were issued, and Scott '13 prices the unused sheet at $55.00 . As with many Hungarian semi-postals, an imperforate version of the souvenir sheet was also issued, and it is probably 50 to 100 times scarcer than the normal sheet. Scott prices the imperforate souvenir sheet at $4,000 .

The sheets have multiple market appeal among collectors of Hungary and Transportation Topicals, due to the 16th century mail coach pictured on the sheet's stamps.

While recent economic reversals in Europe have hurt the stamp market there, I feel that for most of the countries, the situation is unpleasant but short-term. In the meantime, there are opportunities to pick up bargains, and scarce items with topical appeal are worth considering.

After a difficult transition from a centrally-controlled economy to capitalism, Hungary has experienced moderate economic growth until it was impacted by the 2008-09 financial crisis. As a result of the global financial mess, GDP growth has been almost flat over the past five years. As the newest member of the European Union, this nation of 10 million receives nearly a third of all direct investment flowing into Eastern Europe. Agriculture, metallurgy and mining, and tourism are major components of the economy.

Those interested in becoming part of an international community of stamp collectors, dealers, and investors are welcome to join the "Stampselectors" page at Facebook. The  page 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: Romania 1936 Marine Exposition Semi-postals (Scott #B66-68)

 In 1936, Romania issued a set of three semi-postal stamps picturing ships in celebration of its Marine Exposition (Scott #B66-68). 60,000 sets were issued, and Scott '13 prices the unused set at $ 8.75.

   The set has dual market appeal to collectors of Romania and Transportation/Ship topicals.

A nation of 22 million people with a GDP per capita of $ 12,285.- (about 46% of the EU average), Romania is considered an upper-middle income country. Romania's main exports are clothing and textiles, industrial machinery, electrical and electronic equipment, metallurgic products, raw materials, cars, military equipment, software, pharmaceuticals, fine chemicals, and agricultural products. Though the economy has been hit recently by the global financial crisis, GDP growth has averaged about 3.8% over the last ten years.

Those interested in learning more about investing in stamps are encouraged to read the Philatelic Investment Guide ($5), available on Kindle, and accessible from any computer.

Stamp Investment Tip: Russia 1931 North Pole Issue (Scott #C26-29, C30-33)

In 1931, the U.S.S.R. issued two sets of stamps intended for use on Zeppelin mail, and honoring Arctic exploration (Scott #C26-29 and C30-33). 50,000 of the first, perforated set was issued, along with 30,000 of the imperforate set, and Scott '13 prices the unused sets at $100.00  and $200.00, respectively.

Zeppelin stamps and covers are extremely popular among "Zepp" collectors and Aviation topicalists, especially in Europe. Those issued by destination-countries which are likely prospects for rapid economic development represent compelling investments.

In addition to their being  Zepps, the sets also picture the Russian Icebreaker "Malygin" and a Polar Bear, and therefore have multiple topical appeal to Ship, Animal and Polar topicalists.

The market for better Russian stamps from the Czarist through the Stalin periods is very hot right now. With 142 million people, Russia is the 8th or 9th largest economy in the world, with vast reserves of natural resources and a highly educated population. Since the collapse of the Soviet Union, Russia has experienced several major economic crises in its transition to capitalism, although annual GDP growth has been strong over the last 5 years, at around 7%. The country is still plagued by corruption and organized crime, making it somewhat reminiscent of America during its "Wild West" and Robber-Baron periods. Nevertheless, the middle class has grown from just 8 million people in 2000 to 55 million in 2006.

I favor all better items of Russia, as I believe it likely that both its economy and stamp collecting population will grow substantially over the next decades.

Those interested in becoming part of an international community of stamp collectors, dealers, and investors are welcome to join the "Stampselectors" group and organization page at Facebook. The group and page host 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: San Marino 1951 UPU Anniversary Souvenir Sheets (Scott #C62a, C62b)

  In 1950 and '51, San Marino issued airmail stamps and souvenir sheets celebrating the 75th Anniversary of the Universal Postal Union and picturing a mail coach (Scott #C62, C62a, C62b). The 1951 varieties (Perf 13 1/2 X 14 and Imperf.- Scott # C62a and C62b) were issued in souvenir sheets of six, with quantities issued of 15,000 and 5,000, respectively. Scott '13 prices them unused at $45.00 ($80.- for NH) and $ 325.00 ($ 500.- for NH) .

   Aside from its appeal to collectors of Italy and Area, the souvenir sheets are also attractive Transportation Topicals.

Despite the fact that stamps of San Marino are mainly sold to collectors to generate income for the country, it is likely that quite a few of the Views sets were used as postage and discarded. The 200 lira high values were pricey for collectors of the time, especially given the state of the Italian economy in the early Post-War years.

San Marino is a state situated on the Italian Peninsula on the eastern side of the Apennine Mountains, with a population of about 30,000.While the country probably does not contain enough collectors to form a significant stamp collecting population, its stamps are popular among collectors of Italy and Area. In addition, San Marino has issued quite a few popular topicals, which has bolstered interest in its stamps.

Those interested in viewing a list of scarce stamps with printing quantities of 100,000 or fewer may wish to view 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: Papua 1916-31 Lakatoi (Scott #60-73)

 

 From 1916-31, Papua issued a colorful set of fourteen stamps picturing a lakatoi, a native boat of Papua (Scott # 60-73). Printing quantity information is unavailable for this issue, but I estimate that fewer than 10,000 sets were issued. Scott '13 prices the unused set at $311.75.

   It is likely that most of the sets were used as postage and discarded. It was issued piecemeal over a decade and a half, and the high values were expensive for the time it was in use, especially during the Great Depression. Also, it has the added appeal of being a Transportation/Ship topical.
     

Papua New Guinea is richly endowed with natural resources, but exploitation has been hampered by the rugged terrain and the high cost of developing infrastructure. Agriculture provides a subsistence livelihood for most of the population of about 7 million. Annual GDP growth has increased dramatically over the last 5 years, from 1% in 2005 to about 7% in 2009. Still, the majority of the population is extremely poor, and I do not foresee the development of a significant collecting population within the country for some time.

Most of the collectors of Papua New Guinea are British Commonwealth collectors or Australians, because the country was administered by Australia until 1975, and maintains close ties with that nation. I recommend purchase of the better stamps of Papua, New Guinea, and Papua New Guinea based on the probable growth in interest among Australian collectors, and collectors of British Commonwealth.

 Those interested in learning more about investing in stamps are encouraged to read the Philatelic Investment Guide ($5), available on Kindle, and accessible from any computer.           

Stamp Investment Tip: Antigua 1932 Tercentenary (Scott #67-76)

In 1932, Antigua issued a handsome set of of ten stamps commemorating its Tercentenary (Scott #67-76). 23,640 sets were issued, and Scott '13 prices the unused set at $234.50 ($550.- for NH).

The set has multiple market appeal among collectors of British Commonwealth, British Caribbean, and Ship Topicals.

A small island nation with about 85,000 inhabitants, Antigua is mainly reliant on tourism, and it markets itself as a luxury Caribbean escape. Annual GDP growth has been flat over the past 5 years, due to the effect of the global financial crisis.

Readers who are on Facebook are welcome to join the "StampSelectors" group, which focuses upon philatelic investing, the stamp market, and practical matters regarding buying and selling stamps. It also offers the opportunity to comment upon this blog and suggest future stamp investment tips.

Stamp Investment Tip: St. Pierre and Miquelon 1962 Submarine "Surcouf" (Scott #C25)

The Territorial Collectivity of St. Pierre and Miquelon, the only remnant of the former French colonial empire in North America, is comprised of two small groups of islands off the coast of Newfoundland. From a philatelic investment perspective, it's of interest because its stamps are popular in Canada and among collectors of French Colonies - both growing markets.

In 1962, St. Pierre and Miquelon issued a 500fr Airmail picturing the World War II Submarine "Surcouf", and celebrating the previous year's 20th Anniversary of St. Pierre's joining the Free French (Scott #C25). While the printing quantity of this high-value stamp is not known, I estimate that no more than 10,000-20,000 were issued, and as the stamp was considered pricey at the time, many were probably used on heavy parcels and discarded. Scott '11 prices the stamp unused at $ 130.00.

As an attractive combined Ship, Map, and World War II topical, and the key airmail of St. Pierre and Miquelon, the stamp should continue to do well in the years to come.

Stamp Investment Tip: Turkey 1939 Ankara-Erzerum Railroad Issue (Scott #829-32)

In 1939, Turkey issued a set of stamps commemorating the completion of the Sivas to Erzerum link of the Ankara-Erzerum Railroad (Scott #829-32). 35,000 of this Transportation/ Railroad topical set were issued, and Scott '10 values it unused at $ 21.00.

With a population of about 72 1/2 million, Turkey is perhaps the most culturally European of the Islamic nations, and their probable model for 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 in major cities. 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.


Stamp collecting is growing in Turkey, and there are also many collectors of Turkish stamps in Europe and the U.S.. I recommend consideration of Turkish stamps and souvenir sheets with printings of 100,000 or fewer, especially if they have topical appeal.

Stamp Investment Tip: Spain 1938 Submarine Mail Issue (Scott #605A-605F, 605G)

In 1938, during the Spanish Civil War, normal communications between the Balearic Islands and the Spanish mainland were disrupted by Nationalist warships. The Republicans maintained a mail service by submarine and produced a set of six stamps and one souvenir sheet (Scott #605A-605F, 605G). Only 7,526 sets and 7,385 souvenir sheets were issued, and Scott '10

prices the unused set and souvenir sheet at $ 660.- ($ 800.- for NH) and $ 600.- ($775.- for NH), respectively.

This issue has been overlooked in the U.S. because until recently, it was only noted by Scott. I strongly recommend both the set and souvenir sheet, as they are attractive ship topicals with minuscule printings, from a country with a healthy economy and an active and growing stamp collecting population.

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. Philately will continue to flourish under such conditions.

Stamp Investment Tip: Austria 1933 WIPA Issue (Scott #B110-11)

In 1933, Austria issued several semi-postal stamps and a souvenir sheet in celebration of the Vienna International Philatelic Exhibition (WIPA). These stamps, which pictured an engraving of a stagecoach after a painting by Moritz von Schwind, are listed below, along with quantities issued and Scott '10 Catalog Values for unused:

Scott #B110: 50g Deep Ultramarine, Perf. 12 1/2 (40,000: $ 150.00- $260.00 for NH)

Scott #B110a: 50g Deep Ultramarine, Perf. 12 1/2 on granite paper (20,000; $ 325.00- $625.00 for NH)

Scott #B111: 50g, Perf. 12, Souvenir sheet of 4 on granite paper (10,000; $ 2,500.00-$ 3,250.00 for NH)

Scott #B111a: 50g, Perf 12 on granite paper, single from s/s (40,000; $ 500.00-$ 650.00 for NH)

I view this issue as a conservative investment, which should do well over the long haul as Austria's economy and stamp collecting population grows. The global aging trend should boost the number of serious Austrian philatelists, as the proportion of Austrians over 60 is projected to grow from 20.7% in 2000 to 33% in 2025, and 41% in 2050, according to a UN Report on Global Aging.

Austria, a nation of 8.3 million people, is one of the 12 richest countries in the world in terms of GDP per capita, with a well-developed social market economy and a high standard of living. Alongside its highly developed industries, international tourism is the most important part of the national economy. Germany has historically been the main trading partner of Austria, making it vulnerable to rapid changes in the German economy. However, since Austria became a member state of the European Union it has gained closer ties to other European Union economies, reducing its economic dependence on Germany. In addition, membership in the EU has drawn an influx of foreign investors attracted by Austria's access to the single European market and proximity to the emerging economies of the European Union. Annual GDP growth has averaged 2.4% over the past 5 years, reflecting a recent slowdown due to the global financial crisis.

Stamp Investment Tip: Poland Stratosphere Flight Souvenir Sheet (Scott #B31)

In 1938, Poland issued a souvenir sheet in advance of a proposed stratosphere flight (Scott #B31). 60,000 sheets were issued, and Scott '10 prices it at $ 55.00 unused ($110.00 NH). The souvenir sheet is an attractive Aviation topical, and I strongly recommend it as an investment.


With 38 million people, Poland is one of the fastest growing economies of all of the post-Communist countries, with annual GDP growth averaging about 5.5% over the past 5 years. The nation has steadfastly pursued a policy of liberalizing the economy, and was not severely impacted by the recent global financial crisis.


Better stamps of Poland will rise in value as the country prospers and the population of Polish stamp collectors increases. Interest in Polish history and national pride are important elements in the culture of this oft-conquered people, and there are some 10 million Polish Americans with ties to the country.

Stamp Investment Tip: Iran 1957 Tehran-Meshed Railway Issue (Scott #1074-76)

In 1957, Iran issued a set of stamps commemorating the opening of the Tehran-Meshed Railway (Scott #1074-76). 50,000 sets were issued, and Scott '10 prices the unused set at $47.00. The vast majority were used as postage.


Stamps of Iran are not widely collected at present, partly for political reasons and partly because of the ubiquity of fakes among the early overprinted issues. Nevertheless, it is an oil-rich nation (ranked second in both oil and natural gas reserves) of 76 million people, and there are signs that many of them are becoming fed up with the corrupt and reactionary theocracy that is isolating Iran from the rest of the world. Furthermore, it is beginning to diversify away from its dependence on oil into other industries, such as biotech, nanotech, and pharmaceuticals, and it has the potential to develop a thriving tourism sector, should it institute reforms and begin to improve its image.


I view this set as a scarce Railroad topical issue which should do very well if the situation improves in Iran.

Phila-Trivia: The Pigeon Post of Great Barrier Island

Many modern city-dwellers are accustomed to thinking of pigeons as filthy nuisances- "rats with wings"- but the birds have played their part as useful messengers since the time of the Romans.

A pigeon postal service was established between Great Barrier Island, an isolated community 90 kilometers north east of Auckland, New Zealand, and the mainland in 1897. Formerly, postal service had been provided by a weekly coastal steamer, but treacherous seas wrecked the ship SS Wairarapa off the coast of Great Barrier Island in 1894, with the loss of 121 lives, leading to the establishment of two rival pigeongram companies, each of which issued stamps. The birds were sent over to the island on the weekly steamer, and then flew back to Auckland with up to 5 small messages attached to each bird's legs. Great Barrier's pigeongram service ended when the first telegraph cable was laid between the island and the mainland in 1908.

Today, the pigeongram stamps are eagerly collected for their novelty value, and some have become extremely valuable.

New Zealand 1997 Pigeon-Gram Centenary Commemoratives

Stamp Investment Tip: Egypt 1933 Railroad Congress Issue (Scott #168-71)

In 1933, Egypt issued a set of stamps commemorating the meeting of the International Railroad Congress in Heliopolis (Scott #168-71). The set pictures various locomotives from the 1850s on, and is an attractive Train topical issue. 52,000 sets were issued, and Scott '10 values it unused at $ 70.00 .

With an estimated 76 million people, Egypt possesses one of the most developed economies in the Mid-East, with a GDP growth rate of 5% -7%. The government is undertaking major economic reforms to further spur development, including massive investments in infrastructure and liberalizing economic and tax policies to encourage foreign investment. Egypt's main challenge in the years to come will be one of social and political democratization - how to assure that enough of the new wealth trickles down to the majority of the population to lessen the problems of poverty and political instability.

Stamp Investment Tip: South Vietnam 1955 Refugees on a Raft Issue (Scott #30-35)

The French withdrawal from Vietnam, following their defeat at Dien Bien Phu, resulted in the 1954 Geneva Accords, which granted independence to Vietnam, and divided it into northern and southern zones. One of the consequences of this re-alignment was a flood of refugees escaping the North (controlled by the communist Viet Minh, led by Ho Chi Minh) to emigrate to the South. Many of the refugees escaped on rafts.


The plight of these original "boat people" was commemorated by South Vietnam in 1955, with the issuance of the "Refugees on a Raft" set (Scott #30-35). Only 100,000 sets were issued, and Scott '12 prices the unused set at $ 144.00. It is extremely attractive, utilizing the dramatic style of coloration and engraving characteristic of many modern issues of the French colonies, and appeals to Transportation topicalists.

It is somewhat ironic that Vietnam, avowedly communist following the Vietnam War, has now begun to embrace capitalism, and has one of the most rapidly growing economies in the Far East. With 80 million hard-working, industrious people, and another 3 million overseas Vietnamese, many of whom still possess a sentimental attachment to their mother country, it seems inevitable that the better stamp issues of both Vietnams, and also the earlier French colonies of Indochina and Annam and Tonkin, will do well in the coming years.


Regarding North Vietnam and unified Vietnam (post-1975), while there are some issues which may be suitable for investment, it is possible that certain ostensibly "scarce" stamps have been hoarded by corrupt government officials, who await an opportunity to dump them on the market. I advise taking a wait-and-see attitude.


In any case, I recommend accumulation of the "Boat People" set as a solid long-term investment, which will reflect the future economic growth of Vietnam.