Stamp Investment Tip: Honduras 1953 UN Air Officials (Scott #CO60-68)

 







 In 1953, Honduras overprinted 10,000 of the sets of its United Nations Airmail Issue (Scott #C222-30), creating an Airmail Official set (Scott #CO60-68). Scott '14 prices the unused set at $22.20 .

The main reason that this set remains cheap is that Honduras is still a very poor country, and few of its citizens can afford to collect stamps. As far as philatelic investing goes, it qualifies as a "ground floor opportunity" (as described in one of my "general commentary" articles), for which the best strategy is to minimize risk by buying stamps of the country which have worldwide appeal, such as rarities and popular topicals, and then hope for additional increases in value as the country's situation improves. To some extent, Honduran stamp values are sustained by the tendency among stamp collectors to collect Latin America as a region, rather than focusing on individual countries.

I continue to like the U.N. as a topic, long-term. The market for U.N.-related topicals should grow over the very long haul as institutions of world government develop in order to take on serious (and possibly existential) problems which can only be coped with globally. Despite the present inadequacy, corruption, and ineffectiveness of the U.N., I view its reform and gradual strengthening as a gradual but irresistible trend.

Honduras is a nation of about 7 1/2 million people, which has recently undergone a coup d'etat and constitutional crisis which threatened a reversion to dictatorship. The economy, which is largely dependent on agriculture and mining, has continued to grow, but the distribution of wealth remains very polarized, with average wages remaining low. 50% of the population still remains below the poverty line. Annual GDP growth has averaged 3.5% over the last five years, reflecting a 3% contraction in 2010 due to the reverberations of the global financial crisis.

I have begun a new blog, "The Stamp Specialist", which will feature wholesale buy prices for stamps which I am interested in purchasing. I've just posted a buy list for the Honduras. 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: Turkey 1952 UN Economic Instruction Center (Scott #1051-54,1054a)

In 1951, Turkey issued a set and souvenir sheet honoring the United Nations Mediterranean Economic Instruction Center (Scott #1051-54, 1054a). 80,000 sets and 25,000 souvenir sheets were issued, and Scott '12 prices them unused at $8.35 and $95.00, respectively.

Though the souvenir sheet is probably scarcer, the set is also cheap, especially since a far greater proportion of the sets were probably used as postage and discarded.

I continue to like the U.N. as a topic, long-term. The market for U.N.-related topicals should grow over the very long haul as institutions of world government develop in order to take on serious (and possibly existential) problems which can only be coped with globally. Despite the present inadequacy, corruption, and ineffectiveness of the U.N., I view its reform and gradual strengthening as a gradual but irresistible trend.

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. Hence, annual GDP growth over the last 5 years has averaged about 3%. 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.

Stamp Investment Tip: South Korea 1958 UNESCO Souvenir Sheet (Scott #286a)

In 1958, South Korea issued a souvenir sheet honoring UNESCO, the United Nations Educational, Scientific, and Cultural Organization (Scott #286a). Only 5,000 of this rather bland sheet were issued, and Scott '12 prices it unused at $210.00.

I continue to like the U.N. as a topic, long-term. The market for U.N.-related topicals should grow over the very long haul as institutions of world government develop in order to take on serious (and possibly existential) problems which can only be coped with globally. Despite the present inadequacy, corruption, and ineffectiveness of the U.N., I view its reform and gradual strengthening as a gradual but irresistible trend.

South Korea, a nation of about 50 million people, 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 4.2% 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.

Information concerning printing quantities of stamps is often useful in determining which may turn out to be good investments. The StampSelector Scarce Stamp Quantities Issued List (SSSSQIL) currently includes over 9,700 listings of stamps and souvenir sheets with issuance quantities of 100,000 or less.

Stamp Investment Tip: India 2004 U.N. Peacekeeping Souvenir Sheet (Scott #2081a)

In 2004, India issued a souvenir sheet honoring its army's participation in UN Peacekeeping operations (Scott #2081a). 100,000 were issued, and Scott '11 prices the unused sheet at $12.00.

Over the last decade or so, India has issued a number of souvenir sheets in quantities of 50,000 to 100,000. I intend to recommend some of them in future articles. While India's stamp market is heating up, the process has been more gradual than that of its neighbor, China.

The Peacekeeping souvenir sheet has additional appeal as a U.N. topical. I continue to like the U.N. as a topic, long-term. The market for U.N.-related topicals should grow over the very long haul as institutions of world government develop in order to take on serious (and possibly existential) problems which can only be coped with globally. Despite the present inadequacy, corruption, and ineffectiveness of the U.N., I view its reform and gradual strengthening as a gradual but irresistible trend.


This souvenir sheet should be targeted for aggressive accumulation as a grossly undervalued popular topical issue from a nation of 1.2 billion people which is becoming an economic superpower. I think that in certain respects, the Indian stamp market resembles the Chinese stamp market of 20-25 years ago. In the coming years, the "serious" stamp collecting population of Indians will number in the millions, if not tens of millions.

Check out StampSelector's Scarce Stamp Quanities Issued List, which now comprises over 9,700 worldwide listings of stamps with printings of 100,000 or fewer.

Stamp Investment Tip: U.N.- Kosovo 2004 National Costumes (Scott #22-25)

In 2004, the United Nations Interim Administration in Kosovo (UNIAK) issued a set of four stamps picturing Kosovar National Costumes (Scott #22-25). Only 30,000 of these Art-related topical sets were issued, and Scott '12 prices the unused set at $100.-.

I continue to like the better U.N. and U.N.-related stamps long-term. The market for these stamps should grow over the very long haul as institutions of world government develop in order to take on serious (and possibly existential) problems which can only be coped with globally. Despite the present inadequacy, corruption, and ineffectiveness of the U.N., I view its reform and gradual strengthening as a gradual but irresistible trend.

In my opinion, the best philatelic investment bets on increasing interest in the U.N. are not to be found among the regular issues of its main offices in New York, Geneva, and Vienna, but rather among peripheral items, such as the Swiss International Organizations stamps, stamps issued by UNTEA and UNIAK, and some of the scarcer U.N.-related topicals issued by various countries. The printing quantities of stamps issued by the main U.N. offices are simply too high, and I expect that much of them will be available for less than face value for some time to come.

Stamp Investment Tip: Afghanistan 1960 UN Day Souvenir Sheet (Scott #477Note)

I'm initiating coverage of Afghanistan with a popular topical issue, in keeping with my strategy of focusing on items which have worldwide appeal when speculating on stamps of volatile emerging market countries. In 1960, Afghanistan issued a set and souvenir sheet celebrating U.N. Day (Scott #477Note). Only 12,000 of the souvenir sheet were issued, and Scott '11 prices it at $6.00 for unused.

I continue to like the U.N. as a topic, long-term. The market for U.N.-related topicals should grow over the very long haul as institutions of world government develop in order to take on serious (and possibly existential) problems which can only be coped with globally. Despite the present inadequacy, corruption, and ineffectiveness of the U.N., I view its reform and gradual strengthening as a gradual but irresistible trend.

From a philatelic perspective, Afghanistan is of interest mainly for its early issues, especially the "Tiger's Heads." These crudely lithographed stamps have appeal to specialists throughout the world. When these stamps were issued, most Afghan post offices did not have postal cancelers, so pieces were torn off of stamps in order to indicate that they were used. Tiger's Heads which catalog in the hundreds of dollars were probably produced in very modest quantities, although printing quantity information is not available for these issues. I may recommend some of these stamps in future articles.

A nation of over 28 million people, Afghanistan is one of the world's poorest countries. In 2010, the nation's GDP per capita was about $1,000. Its unemployment rate is 35% and roughly 36% of its citizens live below the poverty line. About 42 percent of the population live on less than $1 a day, according to USAID. However, due to the infusion of multi-billion dollars in international assistance and investments, as well as remittances from expats, the economy has steadily improved, growing at approximately 12 percent per year during the past six years. Opium production is a major part of the underground economy, employing over 2 million Afghans.

Recent discoveries of major mineral deposits make the country look compelling from a long-term perspective. In 2010, Pentagon officials, along with geologists from the United States, announced the discovery of $1–3 trillion worth untapped mineral deposits in Afghanistan. The country may possess up to 36 trillion cubic feet of natural gas, 3.6 billion barrels of petroleum, up to 1.3 billion barrels of natural gas liquids and huge deposits of gold, copper, coal, iron ore, lithium, and other minerals.

Stamp Investment Tip: South Korea 1955 UN 10th Anniversary Presentation Sheets (Scott #222var.)

In 1955, the United Nations celebrated its 10th Anniversary, and many nations issued stamps and souvenir sheets commemorating the event. South Korea issued a set of two stamps (Scott #221-22), which are relatively common, but it also issued a set of two presentation sheets (Scott #222Note), of which only 1,000 were issued. Many stamps of South Korea from the '50s were issued along with these accompanying presentation sheets, which were given to dignitaries. Scott does not recognize most of them, but they are listed in Michel and in the Korean Postage Stamp Catalog, which prices them at 960,000 won, or about $850.-.

Because they are usually not listed by Scott, Korean presentation sheets, of which a 300 to 1,000 were produced, can often be bought at U.S. auctions for 25% - 35% of their Michel or KPSC values. Whether or not they remain at low levels will depend upon whether they are widely accepted by Korean collectors. In the meantime, I believe that the most prudent strategy for speculating on them would be to focus on those feature popular topics, such as the U.N..

I continue to like the U.N. as a topic, long-term. The market for U.N.-related topicals should grow over the very long haul as institutions of world government develop in order to take on serious (and possibly existential) problems which can only be coped with globally. Despite the present inadequacy, corruption, and ineffectiveness of the U.N., I view its reform and gradual strengthening as a gradual but irresistible trend.

South Korea, a nation of about 50 million people, 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 4.2% 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.

Stamp Investment Tip: Switzerland 1950 International Organization for Refugees Officials (Scott #6O1-8)

In a number of previous articles, I have expressed the opinion that the demand for U.N. Topicals will increase as the U.N. gradually gains credibility and becomes an effective institution for dealing with global problems. The organization will either gradually assume more importance, or grow in fits and starts as critical problems requiring global solutions suddenly and unexpectedly rear their ugly heads.


Official stamps were issued for use by various international organizations headquartered in Geneva. The earliest of these organizations were associated with the League of Nations, while the later issues were for UN organizations. I favor all of the scarce and undervalued stamps issued for these international organizations. As these issues are all overprinted Swiss stamps, much of the current demand for them comes from collectors of Switzerland. A far greater proportion of the Swiss population are stamp collectors than are Americans, and the level of interest there is comparable to that which exists Germany.


In 1950, a set of 8 stamps was issued for the International Organization for Refugees (Scott #6O1-8). 24,000 sets were issued, and Scott '11 values the unused set at $88.- ($150.- for NH). I view the set as a conservative investment, which should do well over the long-term.


Switzerland, a nation of 7.8 million people,is one of the richest countries in the world by per capita, with a nominal per capita GDP of $67,384. The country experienced slow growth in the 1990s and the early 2000s, and was hurt by the global financial crisis, which has resulted in greater support for economic reforms and harmonization with the European Union.


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 provides a useful venue for those who wish to buy, sell, or trade stamps.

Stamp Investment Tip: Belarus 2002 International Ecotourism Year booklet (Scott #453a)

In 1992, Belarus issued a stamp celebrating the International Year of Ecotourism (Scott #453) in sheet and booklet form. While the sheet stamp is relatively common, with 66,740 issued, only 3,500 of the booklet (Scott #453a) were produced, and Scott '11 values it at $10.00 .

The issue has appeal as a combination UN and "Eco-topical." It is often the case that booklets are ignored for a while if the basic stamps are more commonly available in sheet form, and then rise later when collectors are shocked to realize that they have empty spaces in their albums where the booklets are supposed to be, and then proceed to go on a rampage.


A nation of about 9.5 million, the Republic of Belarus retains a largely state-controlled economy, although it's government has committed to gradual privatization. Important sectors include manufacturing of heavy machinery, agricultural products, and energy production and transport. Recently, the Belarusian economy has shifted into sustained high gear, along with Ukraine, Russia, and many other Commonwealth of Independent States economies. The economic boom provided by mineral wealth of Russia and other CIS nations and Belarus' key location as a transit route between the EU and Russia have enabled it to sustain this impressive growth. Annual GDP growth has averaged about 7.5% over the past 5 years.

Many of the newly independent and newly resurrected nations of Europe and Central Asia have issued popular topical sets and souvenir sheets in modest quantities, and most are currently very inexpensive. I view such issues as low-risk speculations, as only time will tell whether either the development of stamp markets within these countries or topical appeal will push them significantly higher. In a sense, they're comparable to penny stocks, but not as risky.

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: Honduras UN Issue (Scott C222-30)

In 1953, Honduras issued an airmail set honoring the United Nations (Scott #C222-30). Only 10,000 were issued, and Scott values the unused set at $36.60.

The main reason that this set remains cheap is that Honduras is still a very poor country, and few of its citizens can afford to collect stamps. As far as philatelic investing goes, it qualifies as a "ground floor opportunity" (as described in one of my "general commentary" articles last year), for which the best strategy is to minimize risk by buying stamps of the country which have worldwide appeal, such as rarities and popular topicals, and then hope for additional increases in value as the country's situation improves. To some extent, Honduran stamp values are sustained by the tendency among stamp collectors to collect Latin America as a region, rather than focusing on individual countries.

I continue to like the U.N. as a topic, long-term. The market for U.N.-related topicals should grow over the very long haul as institutions of world government develop in order to take on serious (and possibly existential) problems which can only be coped with globally. Despite the present inadequacy, corruption, and ineffectiveness of the U.N., I view its reform and gradual strengthening as a gradual but irresistible trend.

Honduras is a nation of about 7 1/2 million people, which has recently undergone a coup d' etat and constitutional crisis and may revert to being a dictatorship. The economy, which is largely dependent on agriculture and mining, has continued to grow, but the distribution of wealth remains very polarized, with average wages remaining low. 50% of the population still remains below the poverty line. Should the dictatorship succeed in solidifying its position by relying on the tried and true methods of harassing, imprisoning, torturing, and murdering labor organizers, journalists, and political activists, then Honduras will go back to being an asset of parasitic multinational corporations, which will extract its minerals, deforest it for lumber, and endeavor to ensure that most Hondurans remain impoverished, servile farm laborers, willing to spend their lives toiling in the fields for about a dollar a day.


Annual GDP growth has averaged 3.5% over the last five years, reflecting a 3% contraction in 2010 due to the reverberations of the global financial crisis. Obviously, the key question is whether GDP growth will translate into prosperity for most Hondurans over the next decades,
and that will depend upon whether the country regresses, reforms, or revolts.

I have begun a new blog, "The Stamp Specialist", which will feature wholesale buy prices for stamps which I am interested in purchasing. I've just posted a buy list for Honduras, and it 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.

Those interested in joining a community of stamp investors, dealers, and collectors are welcome to join the "Stampselectors" group at Facebook. The group provides a useful venue for those who wish to buy, sell, and trade stamps, and discuss philatelic investing and practical aspects of stamp collecting.

Stamp Investment Tip: U.N.T.E.A. 1962-63 Issue (Scott #1-19)

"UNTEA" is not a popular beverage, but an acronym for a UN organization which administered territory and issued stamps.

Following the recognition of Indonesia's independence by the Netherlands, Western New Guinea became the focus of a political dispute between the two countries. Indonesia claimed the territory as its own while the Dutch side maintained that its residents were not Indonesian and that the Netherlands would continue to administer the territory until it was capable of self determination. Indonesia landed paratroops onto the territory of Western New Guinea in 1961, which prompted a political crisis between the Netherlands and Indonesia. The United Nations stepped in and mediated, resulting in an agreement whereby the UN temporarily administered the territory. In May of 1963, Western New Guinea became a province of Indonesia, later known as Irian Jaya.

During the period of administration by the U.N.T.E.A. (United Nations Temporary Executive Authority), a set of 19 stamps was issued by overprinting "UNTEA" on Netherlands New Guinea stamps of 1950-60 (Scott #1-19). The basic set had a modest printing and has appeal in three growing philatelic markets (Indonesia, the Netherlands, and UN), but what makes the story even more interesting for stampselectors is that the UNTEA set had four printings, with four easily distinguishable overprint types. I've listed these, along with the quantities issued and Scott '10 Catalog Values, below:

-1962 First Printing (Scott #1-19; overprint 17mm x 3mm long; 45,000; $ 60.00 )

-1963 Second Printing (Scott #1a-19a; overprint 17.5mm x 3mm long; 108,000; $ 35.75)

-1963 Third Printing (Scott #1b-9b; overprint 14mm x 2.5mm long; 3,500; $ 178.50 )

-1963 Fourth Printing (Scott #1c, 5c; overprint 19mm x 3.5mm long; 1,500; $ 175.00 )

The third and fourth printings may seem undervalued, but there are a couple of factors which render them speculative. First, fake overprints exist (and may even exist for the first printing as well), and based upon the current values of these stamps, it generally would not be practical to spend money on getting them expertized. Secondly, the third and fourth printings may not have been "regularly issued"; in other words, they may have been produced solely for stamp collectors. Scott lists them, but questions their status.

My feeling is that while the "status question" may put a drag on the two better printings in the short run, it will diminish in importance over time. The risk of buying a faked stamp is of far greater concern, so I'd recommend steering clear of the Third Printing for now, and purchasing the Fourth Printing stamps conditional on obtaining expertization for #5c (Sc.'10 CV = $130.00), even if it seems somewhat expensive relative to the cost of the stamp. Buying #1c and 5c in blocks and getting 5c expertized would be more economical, but blocks might be hard to find.

The three relevant sources of demand for this issue are collectors of the Netherlands, Indonesia, and United Nations. With about 16.6 million people, the Netherlands is the 16th largest economy in the world, and its annual GDP growth has averaged about 2.5% over the last 5 years. Indonesia is a developing, though still poor, country of 230 million people, with an annual GDP growth rate hovering around 5%-6%. Like most emerging market nations, it faces serious challenges which will have to be addressed, including corruption and major inequities in the distribution of income. The market for UN stamps (as well as those issued by its forerunners) should grow over the very long haul as institutions of world government develop in order to take on serious (and possibly existential) problems which can only be coped with globally. Despite the present inadequacy, corruption, and ineffectiveness of the UN, I view its reform and gradual strengthening as a gradual but irresistible trend.

Furthermore, global aging trends in both the Netherlands and Indonesia should bolster the population of serious stamp collectors in both countries in the coming decades. The Netherlands' population of citizens age 60+ is projected to rise from 18.3% in 2000 to 32.8% in 2050, while Indonesia's 60+ age group is expected to almost triple, from 7.6% to 22.3%.

Stamp Investment Tip: Lebanon 1956 UN 10th Anniversary (Scott #C221-22,C222Note)

In January of 1956, Lebanon issued a set of stamps and a souvenir sheet commemorating the 10th Anniversary of the United Nations (Scott #C221-22, C222Note). Only 15,000 sets and 4,000 souvenir sheets were issued. Scott '10 values them unused at $ 11.75 and $ 90.00, respectively. Both are attractive, and it is unclear which represents the better bargain, because it is likely that a far greater proportion of the sets were used as postage and discarded than were the souvenir sheets.

Stamps of Lebanon are popular among collectors of the Mideast and French Colonies. Furthermore, as a UN Topical, this issue has worldwide appeal, which should increase as the UN gradually gains credibility as an effective institution for dealing with global problems.

Lebanon, a nation of 4.2 million people, has had negligible GDP growth over the last 5 years due to Hezbollah's war with Israel, Syrian domination, and internal strife. Nevertheless, I am confident that it will eventually return to prosperity as the various factions within the region learn how to get along, and Beirut returns to its former preeminence as the "Paris of the Middle East."

Stamp Investment Tips: Lebanon 1948 UNESCO Souvenir Sheet (Scott #C145Note)

In 1948, Lebanon issued a compound set honoring UNESCO (Scott #220-24/C141-45). 50,000 sets were issued, and Scott '09 prices the unused set at $ 80.25. The set is worthy of consideration as an attractive UN Topical; however, I feel that the souvenir sheet issued with the set (Scott #C145Note), of which only 2,000 were issued (Scott '10 Catalog Value of $ 275.00) is a far better investment.

UN Topicals have worldwide appeal, which should increase as the UN gradually gains credibility as an effective institution for dealing with global problems.

Lebanon, a nation of 4.2 million people, has had negligible GDP growth over the last 5 years due to Hezbollah's war with Israel, Syrian domination, and internal strife. Nevertheless, I am confident that it will eventually return to prosperity as the various factions within the region learn how to get along, and Beirut returns to its former preeminence as the "Paris of the Middle East."

Stamp Investment Tip: Panama 1958 United Nations Souvenir Sheet (Scott #C202a)

In 1958, Panama issued a set of stamps (Scott #C199-202) and a souvenir sheet (Scott #C202a), commemorating the 10th Anniversary of the United Nations, which had occurred in 1955. Better late than never, I suppose. Both the set and the souvenir sheet are cheap (Scott Value for the Unused set is $ 4.05 ; for the Unused souvenir sheet: $ 5.25 ) and both had very low printings. Only 10,000 of the sets and 3,000 of the souvenir sheets were issued.


UN-related issues are popular among topical collectors, and I am convinced that they will become more popular in the future as the need for better, more powerful institutions of global government to deal with the world's massive problems is recognized. I believe that both the set and the souvenir sheet are excellent candidates for accumulation. It is impossible to know which presents a better prospect; for although the set had a higher printing quantity, it's likely that a far higher proportion of sets than souvenir sheets were used for postage.