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Wednesday, October 19, 2011

Practical Advice: Color in Philately



Every once in a while, a collector may be confronted with the problem of classifying a stamp according to its color. While this is usually quite easy, there are certain instances in which rare color shades exist, and the price difference between a common shade and a rare one may be quite extreme. What does one do when it's necessary to figure out whether a stamp's color is rose, rose pink, pinkish rose, pink, or pigeon blood pink?

My solution is either to have reference copies on hand, or to show the stamp in question to an expert (and submit the stamp for a certificate if necessary). For masochistic philatelists who wish to read a someone dense article on the subject, I've copied an article which appeared in the July, 1945 article of India's Stamp Journal.
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Color and Philately
by C.W. Bruce


To many collectors the subject of color is a perplexity and increasingly so when one endeavors to specialize in tones and shades. Descriptions of color can be very misleading, for the very good reason that so few people can agree upon the name to be applied in describing the color seen. This is generally speaking, so that when one refers to catalogue descriptions, so often are contradictory names applied that the result is often bewilderment.

One explanation is that in some catalogues the early descriptions that were applied have not been modified, and such names are applied to the modern colors of stamps, and owing to the increasing variety of tones and shades such names cannot be aptly adopted. In the days of the line engraved issues colors were more consistent and where shades emerged these were more or less followed. It was thus possible for the catalogue compiler to more correctly give the shade, it being over all a far smaller range. As time passed on and other methods of printing were used, also varieties of paper and gum, these added considerably to the shades of original color.

The study of naming color has not kept pace with the increasing variety and this seems to apply not only in the philatelic world but in every connection between mankind and color development. Various authentic color dictionaries have from time to time been issued, all very excellent in their intent, but nevertheless although produced by color experts, they too conflict in their descriptions.

Pure colors are of course the primaries known as the blue, red and yellow and should present no difficulty to anyone who is not color blind, but the problem starts in the mixing of these shades. Where such colors are equally mixed it is supposed that one would secure pure secondary colors. Fifty percent each yellow and red provides the pure orange and 50 percent each of yellow and blue provides the pure green, but it is when these percentages are not equal that one finds an endless variety of tones with a leaning towards that part possessing the greater proportion. Often one finds references to bluish green, dark blue green and so on and one can grade greens of the blue tone section by moderating the amount of blue from 51 to 99 percent and finally securing practically a blue, and of course the green tinge disappearing as the amount of yellow decreases. The same process can be applied in the opposite direction and withdrawing the amount of blue and increasing the amount of yellow and obtain yellowish green until the almost pure yellow is left; and so with the mixing of all primary colors.

Other causes of variety in shade are not always intentional, since if one made up a pot of dye, be it a mixture or a pure color, one would obtain different tones owing to the fact that, in the case of stamps, atmosphere, paper and gum can affect the color ultimately seen by the eye. A specialist in philately knows the vast range of papers and would have observed even in the current Colonial issues that the new white paper has contributed in altering the shades of the colors. A glossy paper can give a greater reflection of light and thus the color seen by the viewer is one of brilliance. On the other hand, exactly the same color used on a mat surface is more penetrating and gives deep but flat tones and chalky papers will show colors best described as somewhat “clotted.” Sometimes a white gum is used and sometimes a deep yellow and the latter seems to eventually penetrate the paper and mellows the colors considerably. It is somewhat difficult to make clear this deeply involved subject, but it is hoped that the foregoing has given a few examples of the various contributing factors that can render different shades even if the same pot of dye was used for the printing. From these circumstances it will be seen that no true color descriptions can be given very easily to a stamp and if at any time a color dictionary was created for the benefit of philatelic color specialists, then such printed colors would need to be shown upon the different types of papers used by the stamp printers, and at the same time provision made for the effects on paper by gum, incidentally the colors.

The next step in the writer’s mind in the creation of an ideal philatelic color vocabulary would be to print gradations of primary, secondary and third stages of color mixtures and these should be upon a cross reference, numbered graphed squares. For example, on the left-hand side of the page would be a square of pure green being made up of 50 percent each blue and yellow and along the side of this square would be the gradations leading to 99 percent blue. On another page would be the pure green with the amount of blue decreasing until 99 percent yellow was left. As the graphed paper would be numbered one upwards, one would be able to refer almost correctly to any shade be it green 23 or green 49, for example, and by such method some uniformity could be arrived at in the establishment of the catalogue color and descriptions. Other mixtures should be illustrated, for example the above green shades mixed with percentages of brown, red, etc.

Referring to the difficulty in naming color, one has only to see the latest color dictionary produced by the British Color Council, and most inconsistent is in the violet family. This comprises such description as violet, purple, mauve, heliotrope and amethyst, to name a few, and these descriptions are sub-divided by the additions of floral names. Such as in the purple family we have fuschia, cyclamen, orchid, petunia and such colors which are almost identical with many of the violet and mauve families, to which can be added the color described as magenta, practically identical to certain of the purple family. In describing colors one can assume that floral names are applied more than any other, but any person with a knowledge of color knows quite well the vast range of colors in most flowers, for very few are consistent. Perhaps the most reliable is the yellow crocus. Very misleading is the term “lilac,” which exists in the palest shade of mauve, yet is to be found in deep purple, almost black purple. It would appear then that until the creation of a color dictionary whereby such colors are described other than by any of the present names, confusion will continue to exist, and in the field on stamps the specialist must rely upon his own judgment. He must however study the subject of color, but even so he will be able to arrive at no safe conclusions. It is interesting to note that in Nature one of the widest range of colors is to be seen in the family of greens, this being the color of foliage and remains very consistent. Thus the leaves of the Lily of the Valley can be relied upon to be an established shade, and likewise the green of Cyprus, the Myrtle, Holly, Laurel and so on, probably because no attempt has been made at modification, whereas in the floral world man’s interference with Nature in producing hybrids has led to the production of shades and colors never in the original creation. One has only to look at the rose family to recognize this.

In conclusion, in determining a shade of a stamp one should hold this horizontally at almost eye level and should face a north light, and of course this means examining it in daylight. Much has been written on the subject for and against collecting shades and the writer would advocate all specialists to do so and to feature the range that exists. An excellent scheme is to finally rearrange the colors of shades of any one stamp in their graduated order from light to dark or vice versa and if anyone is interested a start can be made with the Indian so-called purple and magenta colors, but most noticeably with the British King George V 6d. In this issue the writer has a graded collection of well over 150 stamps from light to dark which covers the whole family of purples and violets, etc., referred to above. Carry on shade collecting.

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Wednesday, October 12, 2011

Stamp Investment Tip: Eritrea 1934 Air Semi-Officials (Scott #CB1-10)

In 1934, the Italians celebrated the 65th Birthday of King Victor Emmanuel III and the first non-stop flight from Rome to Mogadishu by issuing airmail semi-postal sets for several of its colonies in Africa. All of these air semi-postal sets were issued in similar quantities, including the Eritrean set (Scott #CB1-10), of which 15,000 were issued. Scott '12 prices the unused set at $29.25 ($70.00 for NH) .


All of the better stamps from Italy's African colonies should do well over time, as they have potential dual markets among collectors of Italy and Colonies and the individual countries they became (or into which they were incorporated). Growth in Italy and Colonies collecting alone should be enough to sustain steady increases. Should stamp markets develop within the countries, all of which are emerging market nations, then the process will be accelerated.


Eritrea is a newly independent nation with a population of about 5.2 million. Like many other African nations, its economy is largely based on subsistence agriculture, with 80% of the population involved in farming and herding. Drought has often created trouble in the farming areas. The country is still recovering from the effects of a war with Ethiopia, which ended in 2000. It has substantial mineral deposits and oil reserves which are largely unexplored. Annual GDP growth has averaged 2.6% over the last five years.


Saturday, October 8, 2011

Stamp Investment Tip: Honduras 1964 Olympics (C336-44, C344 Note)


In 1964, Honduras issued a set of airmail stamps and two souvenir sheets honoring the Olympics (Scott #C336-44,C344Note,C344 2nd Note ). 20,000 sets and 5,000 of each souvenir sheet were issued, and Scott '11 prices them unused at $12.55, $40.00,and $50.00, respectively. Also, a small portion of the sets were overprinted for Official Use (Scott #CO111-19; CV = $25.25). The sets and souvenir sheets have worldwide appeal as Olympics/Sports topicals.


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.

Wednesday, October 5, 2011

Stamp Investment Tip: Romania 1959 Founding of Bucharest Anniv. Souvenir Sheet (Scott #C71)

In 1959, Romania issued an airmail souvenir sheet commemorating the 500th Anniversary of the founding of Bucharest (Scott #C71). The sheet pictures Vlad III, Prince of Wallachia, commonly known as Vlad the Impaler and the basis for Bram Stoker's Dracula, the most famous vampire novel of all time. 30,000 were issued, and Scott '11 prices the unused souvenir sheet at $125.00.

Despite Vlad's reputation as having been one of the cruelest and most bloodthirsty tyrants of all time, he is remembered in Romania as a national hero who stood up to foreign and domestic enemies.

The souvenir sheet should do well as a bet on the growth of Romania's economy, and possibly also because of its interesting subject. I favor many of the scarce sets and souvenir sheets of the former Eastern bloc countries, because their values have plenty of room for increase as these economies play catch-up and develop within the free-market fold.

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. It'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. Annual GDP growth has averaged about 4% over the last ten years.


Sunday, October 2, 2011

Stamp Investment Tip: Kiauchau

"Kiauchau" is not something that you say when you sneeze, but a former German colony.

Germany came late to the colonialism game, but nevertheless spent the last decade of the 19th century enthusiastically pursuing the goal of extending the "benefits of German civilization" to peoples who did not yet possess warships, artillery, carbines, or machine guns.

Not to be outdone by the other major powers which had successfully obtained spheres of influence in China, Germany seized Kiauchau (also spelled "Kiautschou"), a district on south side of the Shantung Peninsula, in 1897, in order to facilitate its participation in the "China Trade", which largely consisted on polluting the Middle Kingdom with opium and draining it of gold.

German Offices in China stamps were used in the new colony from 1898 until the Kiauchau's first stamps were issued in 1900. Germany issued 42 stamps for its colony between 1900 and 1909, most of which pictured the Kaiser's Yacht designs common among German colonies stamps. The rarest and most valuable are among the colony's first stamps- the overprinted and surcharged German Offices in China stamps called the Tsingtau Issues, some of which catalog in the thousands and tens of thousands of dollars. The better Tsingtau stamps should be purchased conditional on obtaining expertization.

I favor all of the stamps of Kiauchau as long-term investments. As with all stamps issued by the colonial powers in China, these stamps have been neglected because the Chinese view them as shameful relics of that period of subjugation, which they are. Until reticence replaces resentment and demand for Kiauchau is boosted among Chinese collectors, the stamps' values will probably continue to increase steadily based on collector demand in Germany.

Those interested in becoming part of an international community of stamp collectors, dealers, and investors are welcome to join the "Stampselectors" group and organization pages at Facebook. These host lively discussions concerning stamp investment and practical aspects of collecting, and are excellent venues for those who wish to buy, sell, or trade stamps.



Wednesday, September 28, 2011

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.


Sunday, September 25, 2011

Stamp Investment Tip: Colombia 1935 National Olympics Issue (Scott #421-36)

In 1935, Colombia issued a set of stamps honoring its National Olympics (Scott #421-36). Only 3,000 were issued, and Scott '12 prices the unused set at $1,350.00. As is often the case, the key stamp in the set is the 10p High Value (#436; CV = $550.00), which is worth purchasing alone if one can't locate an entire set.

The set has worldwide appeal to Sports Topicalists, and should also benefit from the long-term stealth bull market for better Latin American stamps.

A nation of 45 million people, Colombia has been plagued by decades of serious internal armed conflict, drug trafficking, corruption, and gross inequities of income, but has nevertheless racked up impressive annual GDP growth averaging 5.5% over the last 5 years. Moreover, until the global financial fiasco cut its GDP growth to 3% in 2009, it had been steadily accelerating, from 2% in 2003 to 8% in 2008. Recently, the government, armed to the teeth by the U.S., has applied a dual policy of combining military pressure with negotiations to cope with the various guerrilla factions within the country. This seems to have worked to some extent, as the number of insurgents has been halved, and the number of homicides and kidnappings drastically reduced. While some argue that the Colombian government is still utterly corrupt, and has violated human rights and supported paramilitary death squads in order to achieve relative peace, it may be that this is par for the course, given the nation's history. The main challenge that the country faces will be that of sharing more of the wealth with the majority of the population so as to develop more of a middle class and political center. Otherwise, it will devolve into an unstable mess.

Those interested in becoming part of an international community of stamp collectors, dealers, and investors are welcome to join the "Stampselectors" group and organization pages at Facebook. These host lively discussions concerning stamp investment and practical aspects of collecting, and are excellent venues for those who wish to buy, sell, or trade stamps.

Also, those interested in learning more about investing in stamps may wish to view my new book, A Guide to Philatelic Investing (available on Kindle, but easily accessed w/any pc; digital list price = $5).


Thursday, September 22, 2011

Stamp Investment Tip: Philippines 1979 Flowers (Scott #1411-16)

In 1979, the Philippines issued a set of stamps picturing native varieties of Mussaenda flowers (Scott #1411-16).
Only 50,000 were issued, and Scott '11 prices the unused set at $10.95. It is likely that most were used as postage and discarded.


From the perspective of philatelic history, the Philippines is interesting because it has issued stamps under Spanish dominion, U.S. Administration, Japanese Occupation, and as an independent nation. It is also compelling as an area of research for the philatelic investor, because of its rapid economic growth, and because it has issued a number of scarce yet overlooked issues, including some modern popular topical sets, such as the Flower topical issue featured in this article.


As a newly democratic and newly industrialized country of 92 million which is moving away from from its centuries-old complete dependence on agriculture, the Philippines could turn out to be one of the most successful emerging markets in the Pacific Region. The government tends toward fiscal conservatism coupled with long-term economic planning, and annual GDP growth has been around 6%-7%. Barring extreme political instability, it is likely that the Philippines will be one of the fastest growing economies over the next decades.


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 Philippines, and it includes the set and souvenir sheet 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.







Sunday, September 18, 2011

Phila-Trivia: Irish 1865-67 Fenian Stamps



While the first postage stamps of the Republic of Ireland were issued in 1922, there were a number of earlier forerunners issued as propaganda labels in support of the cause of Irish Independence. Forerunners are stamps or labels that are used (or prepared for use) for a country, prior to the issue of the first official postage stamps for general use in that country. Some of these stamps may have been produced as essays - proposed designs for stamps to be issued when the final goal was reached. In any case, none are in any of the major stamps catalogs, although they are listed in David Feldman’s ‘Handbook of Irish Philately’ published in 1968.

During the American Civil War, approximately 190,000 Irish-American immigrants served in both the Union and Confederate armies, with almost 80% of that number fighting for the North. When the war ended in 1865, a group of Irish veterans, members of an Irish Nationalist organization, Clan na Gael (Family of the Gael), which had been established in the late 1850′s, and better known as the Fenian Brotherhood, realized that a great way to promote their cause was to produce postage stamps for the ‘Republic of Ireland’, even though no such place existed at that time.

Accordingly, the Clan na Gael produced the 1865-67 Fenian Stamps, a set of seven probably printed by S. Allen Taylor of Boston, from wood blocks in three different denominations: 1c black on green, 1c black on pale blue, 1c black on rose mauve, 3c green, 24c deep green, and 24c mauve-purple, and 24c black on yellow.

They are all imperforate, although the 3c is also recorded perforated, and all are quite rare. In his handbook Feldman states: ‘Most of the exmples in circulation are forgeries, copied from magazine or catalogue illustrations’. It also seems that small printings, of at least the 1c and 24c values, were produced around 1893 from metal plates.


Around the same time that Clan na Gael appeared in the US, The Irish Brotherhood, an organization with the same objectives, was established in Ireland. Both movements were described as ‘secret, separatist, physical force organizations whose object ‘was national (Irish) independence’. Both organizations were involved in violent actions against the British authorities.

In Ireland, The Irish Brotherhood were involved in unsuccessful risings in Dublin and Kerry during 1867. The Fenian Brotherhood were involved in a number of terrorist activities including armed raids over the border into Canada, assassinations, and dynamiting railways and buildings. These activities included between 800 and 1300 (accounts vary) Fenians, under the command of Colonel John O’Neill, actually captured Fort Erie on the Great Lakes in 1866.

These activities, both in Ireland, the U.S., and Canada, had two main purposes, to force the British government into granting Ireland independence, and to raise the visibility of this cause to the world at large. It was in anticipation of Irish independence coming about sooner, rather than later, that these ‘Fenian issue’ stamps came to be. Independence did not happen, and so, of course, the stamps were never used.

The Fenian stamps proved effective, and served as a precedent for the issuance of later propaganda labels as a means of popularizing and raising money for the cause.

In 1967, Ireland issued a set of two stamps commemorating the centennial of the Fenian uprising, illustrating how sometimes those considered outlaws in the past may be legitimized as national heroes in the present.


Friday, September 16, 2011

Stamp Investment Tip: U.S. 1934-38 Migratory Bird Hunting Stamps (Scott #RW1-5)


I'm initiating coverage of U.S. Migratory Bird Hunting Stamps, popularly known as "Duck Stamps", because I believe that Duck stamp collectors represent a unique and growing niche market offering opportunities for the philatelic investor.

Ducks stamps are tax stamps which are sold to hunters annually to license the hunting of ducks and other migratory waterfowl. The revenues obtained from their sale are used to purchase wetlands. The stamps have been around since 1934, and the first was designed by Jay Norwood "Ding" Darling, a Pulitzer-Prize winning cartoonist and prominent conservationist. Since 1949, the Department of the Interior has chosen the stamp designs via a contest, in which thousands of wildlife artists enter their proposed designs. Those who win are entitled to sell prints, which are sought by both stamp collectors and art collectors.

Within the U.S., Duck stamps are issued by the Federal government (the Department of the Interior's Fish and Wildlife Service), by states, and by some Indian tribal organizations. Since 1995, the Fish and Wildlife Service has also issued "Junior Duck Stamps", for which the designs are chosen by a nationwide contest in which students in Kindergarten through the 12th grade may participate. While Junior Duck Stamps have no validity as tax stamps and might strictly be considered labels, they do promote interest in Duck stamps in general, and have become very popular among collectors.

The Duck Stamp collecting community is interesting because it represents an atypical crossover market which includes collectors of general U.S. stamps and U.S. Revenues, along with collectors of Duck hunting memorabilia and Wildlife art. Because the sales of the stamps protect wildlife habitats, it may be considered a "green" collectible, and Duck stamp collecting is actively promoted by the Fish and Wildlife Service. I estimate that currently there are between 8,000 to 10,000 "serious" Duck stamp collectors in the U.S., and many others who buy them to them to fill spaces in their general U.S. albums.

I recommend purchase of the first five Duck Stamps (Scott #RW1-5) in F-VF or better, LH or NH condition. These were issued from 1934 to 1938 by the Department of Agriculture (the Interior Department took over the operation in 1939), and they were sold at post offices. Each of the stamps cost $1.00, which was a lot of money during the Depression, when the unemployment rate rose as high as 22% and the average earnings of an American family were about $1,400 per year. Quantities issued of these stamps ranged from 635,000 to just over 1 million, and the Scott '12 values for unused range from $ 225.00 to $400.00 ($ 425.00 to $ 800.00 for NH). However, it it is likely that very few were collected mint, partly because of the expense, and also because at the time, the post offices were instructed to sell only one Duck stamp per customer.

Hunters used the stamps by affixing them to licenses, and sometimes "canceling" the stamps by signing their names on them. Frequently, Duck stamps offered as "unused, no gum", or "unused, regummed" are often just used stamps which were not signed, so it's best to purchase the gummed stamps, and should there be any question as to the authenticity of the gum, obtain a certificate. Graded certificates have become de rigueur for better Duck stamps in premium condition, so if purchasing a nice one, I suggest obtaining a cert. from the Professional Stamp Experts (P.S.E.).


I wish to thank Bob Dumaine, President of Sam Houston Philatelics, for providing much of the information used in this article.


Monday, September 12, 2011

Stamp Investment Tip: French Equatorial Africa 1944 Resistance Surcharges (Scott #B22-35)

The important role played by African members of the French Resistance has long been neglected, but it is important to note that some of the first to support the movement were overseas territories in North Africa.

In 1944, French Equatorial Africa overprinted some of its 1941 issues to produce a semi-postal set for which the excess non-postal funds were used to support the French Resistance (Scott #B22-35). Only 10,000 sets were issued, and Scott '12 prices the unused set at $252.00.

The set strongly appeals to French Colonies collectors, as well as World War II topicalists. Furthermore, since the former colony of French Equatorial Africa was granted independence and divided to form the current nations of Chad, Congo, Gabon, and Central African Republic, the set makes an interesting emerging market play as well.

A new feature, the Scarce Stamp Quantities Issued List, contains over 9,400 entries of stamps with printings of 100,000 or fewer. Take a look!

Also, those interested in learning more about investing in stamps may wish to view my new book, A Guide to Philatelic Investing (available on Kindle, but easily accessed w/any pc; digital list price = $5).





Wednesday, September 7, 2011

Stamp Investment Tip: Nicaragua 1967 Ruben Dario Souvenir Sheets (Scott #C601a, C605a)

In 1967, Nicaragua issued a set and pair of souvenir sheets honoring its most famous poet, Ruben Dario (Scott #C598-605, and C601a, C605a). 20,000 sets and 5,000 of #C605a were issued, and Scott '11 prices the unused sets at $2.25 and the unused pair of souvenir sheets at $4.00 . Though the sets were printed in greater quantity, it is likely that they had a much higher usage and attrition rate than the souvenir sheets.

Both seem ridiculously inexpensive, especially given the fact that many stamp collectors focus on Latin America as a region. The development of even a small stamp collecting community within Nicaragua would significantly bolster the value of the value of this issue.

Nicaragua is a poor nation of about 5 1/2 million people, and annual GDP growth of about 3%. It is largely dependent upon agriculture and remittances from Nicaraguans living in other countries. Nevertheless, its government has instituted economic reforms, and important secondary industries, such as tourism, banking, mining, and fisheries, are expanding.

I have begun a new blog, "The Stamp Specialist", which will feature wholesale buy prices for stamps which I am interested in purchasing. It includes a buy list for Nicaragua. Viewing dealers' buy lists every now and then is an excellent way to keep current on the vagaries of the stamp market.




Monday, September 5, 2011

Stamp Investment Tip: Greenland 1996-98 Whales Issues

Between 1996 and 1998, Greenland issued three different souvenir sheets featuring various species of whales (Scott #308a, 322a, 334a). Scott '11 prices these unused at $9.50, $9.75 , and $9.00, and the quantities issued for these souvenir sheets were 86,620, 76,885, and 85,707, respectively.

Stamps of Greenland are popular among collectors of Scandinavian stamps, and these souvenir sheets also have worldwide appeal as Animal topicals.

Much of the demand for these stamps originates in Scandinavia, a region containing about 26 million generally affluent and well-educated people and a thriving stamp market. Also there are many people of Scandinavian ancestry living overseas, including about 12 million Scandinavian Americans.


Thursday, September 1, 2011

Stamp Investment Tip: Thailand 1988 Buddha Monthon Celebrations Souvenir Sheet (Scott #1291)



In 1988, Thailand issued a souvenir sheet commemorating its annual Buddha Monthon celebrations (Scott #1291). Only 20,000 were issued, and Scott '11 prices it unused at $24.00


I favor the sheet as both a investment in Thailand's economic group, and as a Buddhist topical. There are hundreds of millions of Buddhists in the world, and most live in the the rapidly developing countries of East Asia.

A nation of 66 million people, Thailand is the second largest economy in Southeast Asia after Indonesia. Despite this, Thailand ranks midway in the wealth spread in Southeast Asia as it is the 4th richest nation according to GDP per capita, after Singapore, Brunei and Malaysia. Though most of the country's population still works in agriculture, the relative contribution of agriculture to GDP has declined while exports of goods and services have increased. Major industries include automobiles and automotive parts, financial services, electric appliances and components, tourism, cement,, appliances, computers and parts, furniture, plastics, textiles and garments, agricultural processing, beverages, and tobacco. Annual GDP growth has averaged just over 3% over the last 5 years, but this takes into account a 2% contraction in 2010, due to the global financial crisis.







Sunday, August 28, 2011

Stamp Investment Tip: Azerbaijan Aquarium Fish Souvenir Sheet (Scott #743)

In 2002, Azerbaijan issued an attractive and humorous souvenir sheet picturing aquarium fish (Scott #743). Only 20,000 of this Animal topical sheet were issued, and Scott '11 prices it unused at $10.00.

The sheet makes an interesting and low-risk speculation based on its appeal as an Animal topical, and as a bet on the economic growth of Azerbaijan and the development of a stamp market there. This recommendation is consistent with my belief that one of the best ways to play the new and newly resurrected countries of Europe and Asia is to focus on popular topicals with low printings.


Azerbaijan is an oil-rich nation of about 9 million people, which also has significant reserves of natural gas and various minerals. Agriculture and tourism are also important to the Azerbaijani economy. The country shares all the problems of the former Soviet republics in making the transition from a command to a market economy, but its energy resources brighten its long-term prospects. It has begun making progress on economic reform, and old economic ties and structures are slowly being replaced. Annual GDP growth has averaged a stellar 21% over the last 5 years, largely based on the frenetic development of the country's oil wealth - an estimated 7 billion barrels of reserves.

Those interested in viewing a list of scarce stamps with printing quantities of 100,000 or fewer should take a look at the StampSelector Scarce Stamp Quantities Issued List, which currently contains over 9,400 entries.



Thursday, August 25, 2011

Stamp Investment Tip: Uruguay 1960-61 Flight Monument (Scott #C211-22)


In 1960-61, Uruguay issued a set of airmail stamps picturing a statue symbolizing "Flight", part of a monument to fallen aviators (Scott #C211-22). 20,000 sets were issued, and Scott '11 prices the set at $17.20 for unused.

As it is likely that most of the sets were used as postage and discarded, perhaps a a few thousand remain. It is grossly undervalued, especially considering that there are many collectors of Latin America who focus on the region as a whole.


With a population of about 3 1/2 million people, most of whom are of European or mixed descent, Uruguay has a stamp collecting population which will probably approach European levels in the years to come. Uruguay is one of the most economically developed, politically stable and least corrupt countries in Latin America, and is moving away from its dependence on agricultural exports and toward development of commercial technologies, especially software. Annual GDP growth has averaged a little over 3% over the last 5 years.

I have begun a new blog, "The Stamp Specialist", which will feature wholesale buy prices for stamps which I am interested in purchasing. It includes a buy list for Uruguay, and 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.


Sunday, August 21, 2011

Stamp Investment Tip: Penrhyn Island 1903 Overprint (Scott #10-12)

In 1903, New Zealand overprinted three stamps picturing birds from its 1898 Issue in thee for use on Penrhyn Island, one of its dependencies
(Scott #10-12). The overprint utilized the local Cook Islands Maori language, to facilitate use by the 395 natives who lived on the island. Penrhyn Island later was administered as one of the Cook Islands, which attained full independence in 1973.

13,800 sets were issued, and Scott '11 prices the unused set at $91.50.

It might seem reasonable to wonder why StampSelector would recommend issues from obscure islands in the South Pacific that have small populations and about which few people even know.
Generally, I am recommending these issues based on their low printings increasing external demand. Aside from the growth in interest among British Commonwealth collectors, many of these islands were once dependencies of either Australia or New Zealand, which issued stamps for them, and philatelists in these countries consider them as similar to former colonies.

Hence, the primary sources of demand for the stamps of Penrhyn Island will not be found among the few hundred Penrhyn Islanders or the 20,000 or so Cook Islanders, but in New Zealand and among the collectors of British Commonwealth worldwide.

New Zealand is a modern, prosperous nation of about 4.3 million people, with a GDP of $115 billion. Over the last 10 years, annual GDP growth has averaged about 3%. The economy was hurt by the recent global financial crisis, and is beginning to recover. In 2005, the World Bank praised New Zealand as being the most business-friendly nation in the world. The nation has a stamp collecting demographic similar to Great Britain's, and the demand for better material should increase dramatically as population aging accelerates. The percentage of New Zealanders aged 60 and over will rise from 18% in 2009 to 29% in 2050.



Thursday, August 18, 2011

New Feature Announcement: StampSelector Scarce Stamp Quantities Issued List


I invite all readers to take a look at a new feature associated with the StampSelector blog, the StampSelector Scarce Stamp Quantities Issued List (or SSSSQIL).

Currently containing just over 9,700 entries, the SSSSQIL represents an ongoing attempt to list all stamps with known issuance quantities or quantities sold of 100,000 or fewer. It is a compilation of information from many different sources - the product of several years of work which I initially undertook to supplement my knowledge and improve my effectiveness as a philatelic investor.

Quantities issued information is very important for those interested in investing in stamps, as it provides a basis for estimating supply. The decision to utilize the 100,000 maximum was somewhat arbitrary, as it's probably too high for some countries and too low for others, depending upon the levels of collector appeal.

Thanks to all who have viewed this site.


Monday, August 15, 2011

Stamp Investment Tip: Hawaii 1893 Black Provisional Government Overprints (Scott #65-73)

In 1893, following the contrived planter's rebellion that ultimately resulted in Hawaii's annexation by the U.S., Hawaii overprinted some of its earlier 1883-86 Kingdom stamps for use by its new provisional government (Scott #65-73). All stamps of this set with the exception of #66 are scarce and undervalued, and #66C is rare. I've listed the better stamps, along with their Scott '11 values for unused and printing quantities, below:

-1893 2c Rose Vermilion (Scott #65; Sc. '11 CV =$80.00-$200.00 NH ; 6,250 issued)
-1893 6c Green (Scott #66C; Sc. '11 CV = $14,000.00 ; 50 issued)
-1893 10c Vermilion (Scott #67; Sc.'11 CV= $ 20.00-$50.00 NH; 25,000 issued)
-1893 10c Red Brown (Scott #68: Sc. '11 CV= $ 10.00-$25.00 NH ; 31,200 issued)
-1893 12c Red Lilac (Scott #69; Sc. '11 CV = $325.00-$525.00 NH ; 3,750 issued)
-1893 15c Red Brown (Scott #70; Sc.'11 CV= $25.00-$55.00 NH ; 20,000 issued)
-1893 18c Dull Rose (Scott #71; Sc. '11 CV= $35.00-$75.00 NH ; 5,830 issued)
-1893 50c Red (Scott #72; Sc.'11 CV = $80.00-$175.00 NH ; 11,499 issued)
-1893 $1 Rose Red (Scott #73; Sc.'11 CV=$140.00- $300.00 NH ; 6,099 issued)

Despite the fact that these are overprints, it's not necessary to purchase them conditional on obtaining expertization, because the basic Kingdom stamps are never significantly less expensive than the overprints (in fact, they are generally more expensive). The 6c Green (Scott #66C), is the notable exception to this rule.


It is surprising that there are still many undervalued stamps of Hawaii, given that it is the most popular U.S. Possession among U.S. collectors, and that it is an important cultural and economic nexus between the U.S. and the Far East.

Many of the definitives of the Kingdom Period and the later Provisional Government overprints may be found quite well centered. As the P.S.E. (Professional Stamp Experts organization) now grades U.S. Possessions stamps, I advise selecting for condition and centering when purchasing them. Should the current grading fetish persist, Hawaiian stamps that grade XF-90 or higher will sell at auction for multiples of their catalog value.



Thursday, August 11, 2011

Stamp Investment Tip: Ethiopia 1944 Menelik II Centenary (Scott #263-67)

In 1944, Ethiopia issued a set of five stamps commemorating the centenary of the birth of King Menelik II (Scott #263-67). 39,000 sets were issued, and Scott '12 prices the unused set at $20.50 .

The first King Menelik was traditionally believed to be the son of King Solomon and the Queen of Sheba, and is credited with having founded the Solomonic dynasty that ruled Ethiopia with few interruptions for close to three thousand years. Menelik II (1844-1914) is revered as a strong and enlightened leader who extended Ethiopia's territory, transformed it into a modern state, and defeated the Italians, who wished to colonize Ethiopia, at the Battle of Adwa (1896).

The Menelik II set has obvious patriotic appeal to Ethiopians, and it is likely that most were used as postage and discarded. How often can one purchase an attractive set of stamps, for which probably fewer than 15,000 remain, from a rapidly developing country with tens of millions of people, for so little?


Ethiopia is still a poor country, with an estimated population of over 85 million people. However, it has one of the fastest growing economies in the world, with annual GDP growth of 9%-11%. It has the greatest water reserves in Africa, and is one of its most fertile countries. According to the New York Times, it has the potential "to become the breadbasket for much of Europe if its agriculture were better organized."

Ethiopia has a fascinating philatelic history, and most serious collectors who specialize in Ethiopia are Europeans and Americans. I expect that this will change over the long-term, as it has for so many countries which have risen out of poverty. It doesn't take much imagination to envision how prices for scarce, inexpensive issues of Ethiopia will be affected if more of a middle class develops and more Ethiopians begin collecting their own stamps.

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.