Phila-Trivia: The Early Rift Between Beginning and Advanced Collectors

The following article appeared in "The Eagle Philatelist" (Kansas City, Kansas) for July 1892. It is interesting because it describes a critical early controversy which occurred in the philatelic community: the rift between beginning collectors, who tended to be non-discriminating generalists, and more advanced collectors, whose hobby had evolved toward more specialized collecting. The distinction between the two types of collectors is still relevant today, although the "controversy" no longer exists. The vast majority of stamp collectors in the world fall into the first type ("generalist beginners") while those who have become more advanced tend to specialize.

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"The 'Common' versus the 'French' School of Philately"by Harry F. Kantner

Philatelists who have pursued our hobby for thirty years or more will possibly remember the famous controversy occasioned by the introduction of the French School of Philately. For the benefit of the younger element, I will give a brief account of the controversy and the principles advocated by the debaters on both sides.

The young collector will first be contented with the many types to be found, but as his collection becomes larger, he will find minute varieties, some stamps being exactly of the same type but may differ in the shade, the quality of the paper, the watermark, or may exist with or without perforations. Then again in some countries he may find that on a sheet of fifty or more apparently similar stamps there may be fifty or more varieties because of some minute difference in the types, due to inaccuracy in the engraving. If the collector has an abundance of the “useful,” he will usually purchase such minute varieties, often at a very high price. If he pursues this course he is said to belong to the French School of Philately, because the Parisian Stamp Collectors adopted this method as early as 1862. Their principle was “specialism and completeness, every variety and every specimen.” The collectors who disagreed with the French School were termed the Common School of Philately. Many were the arguments in the debates between the two schools, and at last things came to such a stand that the members of the French School were accused of being afflicted with soft spots on their craniums, and the collectors of the Common School adjudged by their opponents as being of the “small boy” class.
So the contest went on, all the stamp journals of the time taking an active part. At last no interest was taken in the debate, and they all with one assent agreed with Charles Mackay to
“Let the long contention cease.
Geese are swans and swans are geese.”

Many collectors may regard this controversy as being of no importance but I believe it was the cornerstone of philately. And why?
Well, had the Common School triumphed there would have been very few scientific collectors and certainly very poor, if any, philatelic literature of a scientific nature, and collectors would rarely, if ever, have become acquainted with each other had there been no stamp journals.

The collectors of the French School, while they knew there were more varieties issued than they could secure, took to a sort of specializing, the result of which lead to scientific collecting, which has laid the foundation of philately.

In the United States today there are many who do not take into consideration the qualities of the stamps. For instance, how many collectors concern themselves about the sizes of the grille in the embossed stamps of the U.S.? In revenue stamps, how many make a distinction between perforated and unperforated stamps or the quality of the paper? In U.S. envelope stamps, how many collect the various sized entire envelopes according to the Hornerian method? Very few indeed, but the few they are, are collectors according to the French School. They are scientific collectors - philatelists. The many who do not collect thus are collectors of the Common School. They are non-scientific collectors - stamp collectors.

There is a wide chasm between the two schools which can only be crossed by study. Have you crossed it?..................................................

Stamp Investment Tip: Canal Zone 1939 Pan-Am Clipper (Scott #C15-20)

In 1939, the Canal Zone issued a set of six airmails picturing scenes of Pan American Clipper planes flying over the Panama Canal (Scott #C15-20). The set commemorated the 10th Anniversary of C.Z. airmail service, and the 25th Anniversary of the opening of the Panama Canal. 40,051 sets were issued, but these were in use for less than 2 years, as the sets were withdrawn in early 1941, and the remainders destroyed. Scott '13 prices the unused set at $ 86.00 .

Stamps of the Canal Zone are popular among U.S. Possessions collectors, and should continue to do well as interest both in this collecting area and in Latin America grows.

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: Jordan 1930 Locust Campaign Issue (Scott #B1-12)

  In 1930, Jordan, then a British Mandate Territory, overprinted some of the stamps from its 1927-29 Amir Abdullah ibn Hussein issue to produce a set of twelve semi-postal stamps to raise funds to help combat a plague of locusts (Scott #B1-12). Only 1,802 sets were issued, and Scott '12 prices the unused set at $235.90   .

 Though in many cases I recommend obtaining expertization of better overprinted stamps, it isn't necessary in this case, because the difference in value between the basic stamps and the overprinted ones is not significant. However, there are four overprint varieties within the set that should be purchased conditional on obtaining expertization - the 2m and 15m inverted overprints (Scott #B1a and B6a), the 5m double overprint (Scott #B4a), and the 500m 'C' of "Locust" omitted variety (Scott #B12a). While quantities issued of these variety is unavailable, it is likely that a few hundred of the first three and fewer than fifty of B12a were issued.

The better stamps of the Mandate period have dual market appeal to collectors of British Commonwealth and Jordan.

 Jordan is a small country of 6.3 million people with limited natural resources. Nevertheless, it is an emerging market nation, largely due to its liberal economic policies and relative political stability compared to many of its neighbors, and it has maintained an annual GDP growth of 5% -6% over the last 5 years. Currently, its main industries are fertilizers, tourism, and banking, but it also has a developing "knowledge economy," which is contributing to its nascent aerospace, defense, pharmaceutical, and ICT sectors.

Stamp Investment Tip: Dominican Republic 1937 Goodwill Flight (Scott #C24-31)

In 1937, the Dominican Republic issued a set of eight airmail stamps honoring Columbus, and celebrating its goodwill flight to all of the countries of the Americas by the planes "Colon", "Nina", "Pinta", and "Santa Maria" (Scott #C24-31). 20,000 sets were issued, and Scott '13 prices the unused set at $28.55.

In all likelihood, most of these stamps were used as postage and discarded, which explains why one doesn't run across them very frequently. They're probably several times scarcer than the U.S. Graf Zeppelin set, and with far better prospects of climbing much higher than their current levels. While it may take some time for a significant stamp collecting population to develop among Dominicans, the upside to investing in Latin American stamps is that there is a tendency among collectors to focus on the region as a whole.


With a population of about 10 million people, the Dominican Republic is considerably better off than its neighbor Haiti, with which it shares the island of Hispaniola. Though long known for sugar production, its economy is now dominated by the service sector. The country has become the Caribbean's largest tourist destination. Over a million Dominicans now live in the U.S., and they send billions in remittances home to their families, amounting to a tenth of the GDP. Annual GDP growth has averaged around 6.5% over the last 6 years, although it has been uneven from year to year, and unevenly distributed. As in much of Latin America , reforms will be necessary to address governmental corruption and the gulf between rich and poor.


I have begun a new blog, " The Stamp Specialist ", featuring my buy lists for stamps which I wish to purchase, including some Dominican stamps. Periodically viewing dealers' buy lists is an excellent way to remained informed about the state of the stamp market.

Stamp Investment Tip: Albania 1924 Red Cross Semi-postals (Scott #B5-8)

In 1924, Albania surcharged stamps of its 1923 Scenes issue, issuing a semi-postal set to benefit the Red Cross (Scott #B5-8). 28,000 sets were issued, and Scott '13 prices the unused set at $44.00 .

The set appeals to collectors of Red Cross topicals as well as collectors of Albania.

A nation of 3.2 million people, Albania is poor by Western European standards, but has experienced healthy GDP growth, averaging  slightly under 5% over the last 5 years. Foreign investment has increased but has been dampened somewhat by the country's inadequate infrastructure. Modernization will be Albania's main challenge over the next decade.

Those interested in joining a community of stamp investors are welcome to join the "Stampselectors" group on Facebook. The group provides a valuable forum for those who wish discuss this blog, as well as trade or communicate with stamp collectors, dealers, and investors from all over the world.

Stamp Investment Tip: Republic of China 1955 Chiang Kai-Shek 69th Birthday Souvenir Sheet (Scott #1126a)

  In 1955, the Republic of China issued a souvenir sheet celebrating the 69th Birthday of its beloved dictator, Chiang Kai-shek (Scott #1126a). Only 20,000 were issued, and Scott '13 prices the unused souvenir sheet at $180.- .

Better stamps and souvenir sheets of the R.O.C. have done well over the last few decades, but the market has been cooler than that for stamps of the People's Republic. I believe that as capitalism and incremental democratization take hold in the P.R.C., relations between the "two Chinas" will gradually improve, as will demand for stamps of the R.O.C.. The process of thawing may have already begun: as of 2008, more than $ 150 billion has been invested in the P.R.C. by Taiwanese companies, and about 10% of the Taiwanese labor force works in the P.R.C., often to run their own businesses.

In the meantime, most of the demand for stamps of Taiwan will originate from collectors in Taiwan itself and among overseas Chinese (of which there are approximately 35 million). Taiwan, a nation of 23 million people, is one of the four "Asian Tigers," and has experienced explosive economic growth and industrialization over the last 5 decades. Annual GDP growth has averaged about 4% over the last 5 years, but this reflects the zero growth of 2009, a result of the global financial mess.

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: Venezuela 1944 Howarth Issue (Scott #C199-205)

In 1944, Venezuela issued a set of seven airmails commemorating the centennial of the first cooperative shop in Rochdale, England by Charles Howarth (Scott #C199-205). Howarth was famous as a reformer and labor organizer. 15,000 sets were issued, and Scott '12 prices the unused set at $10.80 ($18.- for NH). Many were probably used as postage and discarded.

With a population of about 26 million, Venezuela is resource-rich, and consistently ranks among the top ten oil producers in the world. Annual GDP growth has averaged almost 10% over the last 5 years, although it has been decelerating recently due to lower oil prices. Under Chavez-style quasi-socialism, the percentage of Venezuelans living below the poverty line has decreased from 48% in 2002 to 30% in 2006. The country has begun diversifying its economy away from its current near-total dependence on petroleum exports, and has spawned a rapidly growing manufacturing sector.

I have begun a new blog, "The Stamp Specialist", featuring my buy lists for stamps which I wish to purchase, including many items from Venezuela .Periodically viewing dealers' buy lists
is an excellent way to remained informed about the state of the stamp market.


Those interested in joining a community of stamp investors are welcome to join the "Stampselectors" group on Facebook. The group provides a valuable forum for those who wish discuss this blog, as well as trade or communicate with stamp collectors, dealers, and investors from all over the world.

Stamp Investment Tip: Falkland Islands 1898 Victoria (Scott #20-21)

The Falkland Islands, an archipelago in the South Atlantic off the coast of Argentina, is a self-governing territory of the United Kingdom. While Falkland Islanders comprise a tiny but very affluent population of about 3,000, from a philatelic investment perspective, the Falklands are of interest because they appeal to both British Commonwealth and Antarctic territories collectors.

In 1898, the Falklands issued two high value stamps portraying Queen Victoria (Scott #21 and 22). 6,000 of each were issued, and Scott '13 prices them unused at $300.00 and $240.00 respectively.

I recommend purchase of either, in NH, LH, or used condition. These were pricey stamps at a time when the average worker made about 10-20 shillings per week. Most were probably used either as revenues or as postage on heavy packages and discarded.


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

Has the Bull in the China Shop Become Ground Beef?

Since October of 2010, the People's Bank of China has raised interest rates five times in an effort to combat inflation. This tightening of monetary policy has led to a deceleration of economic growth in the P.R.C., and has been a factor in the global economic recession.

Enlightened workers opposing philatelic imperialism (JK)

There have been reports that this deceleration of growth has also dampened prices for Chinese collectibles, including stamps, that the once white-hot P.R.C. stamp market has cooled somewhat, and that dealer buy prices for many items have dropped by 20%-30%.

In a March, 2010 StampSelector blog article ("General Commentary - the Bull in the China Shop"), I commented on the dramatic price         increases for P.R.C. material, and noted buy prices for several souvenir sheets and Cultural Revolution issues. In a second article (General Commentary - Has the Bull in the China Shop Met Its Matador?), I discussed the rumors of a softening of the Chinese stamp market in January, commenting that at that time, buy prices for key items had remained strong. I've re-listed these items below, along with current buy prices.

(Prices are for VF NH

1958 Kuan Han-ching s/s (Scott #357a):

2004: $ 65.00
2006: $ 75.00
2007: $ 85.00
2008: $ 130.00
March, 2010: $ 215.00 ; April, 2010: $ 340.00
September, 2011: $ 650.00
January, 2012: $660.00
June, 2012: $ 525.00

1961 Table Tennis s/s (Scott #566a):

2004: $ 180.00
2206: $ 225.00
2007: $ 225.00
2008: $ 275.00
March, 2010: $ 800.00; April,2010: $ 1,180.00
August, 2011: $ 1,500.00
January, 2012: $ 1,400.00
June, 2012: $ 1,100.00


1962 Mei Lan-fang s/s (Scott #628):

2004: $ 1,800.00
2006: $ 2,500.00
2007: $ 3,000.00
March, 2010: $ 10,000.00; April, 2010: $ 11,000.00
August, 2011: $ 25,000.00
January, 2012: $ 25,000.00
June, 2012: $ 22,500.00

1964 Peonies s/s (Scott #782):

2004: $ 400.00
2006: $ 500.00
2007: $ 500.00
March, 2010: $ 2,000.00; April, 2010: $ 3,650.00
August, 2011: $ 3,750.00
January, 2012: $ 4,100.00
June, 2012: $ 2,600.00

1967 Thoughts of Chairman Mao- unfolded strip of 5 (Scott #948a):

2004: $ 325.00
2006: $ 750.00
2007: $ 750.00
March, 2010: $ 2,500.00; April, 2010: $ 3,300.00
August, 2011: $ 5,000.00
January, 2012: $ 8,000.00
June, 2012: $ 6,000.00


1967-68 Poems by Chairman Mao (Scott #967-80):

2004: $ 475.00
2006: $ 800.00
2007: $ 800.00
2008: $ 1,300.00
March, 2010: $ 2,200.00; April, 2010: $ 3,000.00
September, 2011: $ 4,275.00
January, 2012: $ 5,350.00
June, 2012: $ 3,500.00

1968: "The Entire Nation is Red" (Scott #999A):

2004: $ 8,000.00
2006: $ 10,000.00
2007: $ 10,000.00
March, 2010: $ $ 60,000.00; April, 2010: $ 75,000.00
September, 2011: $ 150,000.00
January, 2012: $ 170,000.00
June, 2012: $ 125,000.00

1978 Science Conference s/s (Scott #1383a):

2004: $ 140.00
2006: $ 150.00
2007: $ 160.00
March, 2010: $ 400.00; April, 2010: $ 490.00
August, 2011: $ 550.00
January, 2012: $ 540.00
June, 2012: $ 500.00

1979 Study Science s/s (Scott #1518):



2006: $ 510.00
March, 2010: $ 1,600.00; April, 2010: $1,950.00
August, 2011: $ 2,350.00
January, 2012: $ 2,300.00
June, 2012: $ 1,800.00

1980 Year of the Monkey (Scott #1586):

2004: $ 100.00
2006: $ 215.00
2007: $ 200.00
March, 2010: $ 800.00; April, 2010: $975.00
August, 2011: $ 1,600.00

January, 2012: $ 1,550.00
June, 2012: 1,500.00

According to my sampling, there have been  definite declines in buy prices for these key items since January, averaging just over 24%.  It  is possible that this selection of key items is not representative, or that it doesn't take into account fluctuations which may have occurred on a shorter term basis, or during months for which buy prices were not noted.

It is clear that the slowing of China's economic growth has kicked in. On the plus side, the country's central bank has finally lowered its interest rates for the first time since 2008, indicating a long-awaited reversion to the policy of stimulating the economy.

My feeling is that the most likely scenario for the People's Republic will be an economic resurgence, and buy prices for its better stamps and souvenir sheets that will well exceed the highs of 2011. However, though China is still in its "wonder years", it has a large number of rather ugly warts, and it is possible that some of them could develop into tumors.

Stamp Investment Tip: Philippines 1928 London-Orient Flight Issue (Scott #C18-28)

The Philippines were under U.S. Administration from the end of the Spanish-American War (1899) until 1935. In 1928 , stamps of the Philippines regular issue of 1917-25 were overprinted "L.O.F." to commemorate the London-Orient Flight made by a squadron of British seaplanes (Scott #C18-28). The Philippines were an important staging post on all major world flights of the twenties and thirties and the definitive series was overprinted in connection with these events on six occasions between 1926 and 1936. 6,000 sets were issued, and Scott '13 prices the unused set at $136.25 ($230.- for NH) .

The set has multiple market appeal among collector of the Philippines, U.S. Possessions, and Aviation Topicalists. Though I often counsel obtaining expertization when purchasing stamps with overprints, in this case it's unnecessary, because the set is too inexpensive to warrant it, and there isn't a huge difference in value between the overprints and the basic stamps.


As a newly democratic 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.

Stamp Investment Tip: Zanzibar 1904 Surcharges (Scott #94-98)

In 1904, the British created a surcharged set (Scott #94-98) for Zanzibar, which was then a British protectorate, by overprinting some of the stamps from the 1899-1901 Sultan Seyyid Hamoud-bin-Mahommed-bin-Said set (Scott #62-78). Only 2,619 of the surcharged set were issued, and Scott '12 prices it unused set at $ 313.75.

While I sometimes advise obtaining certificates on overprinted stamps, expertization is not necessary in this case, because there is not enough of a price difference between the basic stamps and the surcharges to make it worthwhile.

In 1964, Tanganyika joined Zanzibar to form the United Republic of Tanganyika and Zanzibar, which changed its name to the United Republic of Tanzania in 1965. While it is likely that in the near-term, British Commonwealth collectors will generate most of the demand for stamps of Zanzibar, should a significant stamp collecting community develop within Tanzania, the undervalued stamps of the former protectorate will skyrocket.

Tanzania has a population of about 43 million, and its economy is mostly based on agriculture, which accounts for more than half of the GDP, provides about 75% of exports, and employs approximately 75% of the workforce. Topography and climate, though, limit cultivated crops to only 4% of the land area. The nation has many natural resources including minerals, natural gas, and tourism, and the government has instituted policies to promote development of these sectors. Annual GDP growth has averaged about 6.5% over the last 5 years.

Stamp Investment Tip: Thailand 1986 Orchid Souvenir Sheet (Scott #1160a)

In 1986, Thailand issued a souvenir sheet picturing orchids (Scott #1160a), to commemorate the meeting of the 6th ASEAN Orchid Congress. Only 20,000 souvenir sheet were issued, and Scott '12 prices the unused sheet at $110.00.-.

Aside from being an investment in Thailand's future economic growth, the sheet also has appeal as an attractive Flower topical.

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.

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

Stamp Investment Tip: Netherlands Antilles 1942 Airs (Scott #C18-42)

In 1942, the Netherlands Antilles issued a pleasant engraved set of 15 airmails. 30,000 sets were issued, and Scott '12 prices it unused at $55.50.

I continue to favor stamps of the European colonies and possessions over the stamps of their mother countries. The quantities issued for the colonies tend to be modest, and worldwide interest in them often grows at a faster rate. For the most part, stamp of the Netherlands Antilles appeals to Netherlands Colonies collectors, but as Curacao is a popular tourist destination, it's likely that in the future, interest in its stamps will grow in the Americas as well.

With about 16.6 million people, the Netherlands is the 16th largest economy in the world. It is an affluent industrial and trading nation, with a well-educated population, and an active stamp collecting community. Its annual GDP growth has averaged about 2.5% over the last 5 years, reflecting a slowing due to the global financial crisis.

Stamp Investment Tip: Liechtenstein 1921 Issue (Scott #54-69)

In 1921, Liechtenstein issued a set of 16 stamps, of which most of the high values pictured scenes of the principality (Scott #54-69). 65,505 sets were issued, and Scott '12 prices the unused set at $344.95 ($1.150.00 for NH) .

Liechtenstein is one of Europe's smallest countries, but it's stamps are very popular worldwide, especially in Switzerland, Austria, and Germany. I recommend accumulation of the country's better items in anticipation of the European economic recovery.

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

Stamp Investment Tip: Azerbaijan 2000 Reptiles Miniature Sheet (Scott #709)

In 2000, Azerbaijan issued a miniature sheet of four stamps picturing native reptiles (Scott #709). 25,000 were issued, and Scott '12 prices the unused sheet at $6.50 .

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 16% 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 9,700 entries.

Stamp Investment Tip: Uruguay 1933 Flag of the Race (Scott #430-40)

In 1933, Uruguay issued a set of eleven stamps picturing the "Flag of the Race", representing the Spanish "race" in the Americas and in Spain's various other colonies and former colonies (Scott #430-40). The set also honored the 441st Anniversary of the Sailing of Christopher Columbus, rediscoverer of the Americas, and the first European to bring enslavement, epidemics, and mass murder to the hemisphere. Only 10,000 sets were issued, and Scott '12 prices the unused set at $35.40 .

Most were probably used as postage and discarded, as Uruguay's economy was in crippled by the worldwide Depression of the '30s, and the only Uruguayans who could afford to collect its stamps were to be found among members of the oligarchy.

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.

Stamp Investment Tip: French Southern and Antarctic Territories 1966-69 Flora/Fauna Issue (Scott #25-28)

Four countries claim territory in the Antarctic and issue stamps for their territories. They are Australia (Australian Antarctic Territory), Great Britain (British 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 and abbreviated as F.S.A.T. or T.A.A.F., 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 in the Antarctic.

From 1966 to '69, the F.S.A.T. issued a set of five stamps picturing native animals and one local plant, the Phylica tree of Amsterdam Island. 40,000 were issued, and Scott '12 prices it unused at $433.00.

Demand for stamps of the French Antarctic is strong in France and among collectors of French Colonies/Area, and the Flora/Fauna set has obvious topical appeal. It is the territory's key set, and as such may be purchased as a conservative investment.

General Commentary: The Holy Grail of Philatelic Investing

Over the last 2+ years, I've published over 400 StampSelector blog articles recommending various stamps or souvenir sheets as investments. However, I have never made any comparison between the issues recommended, nor have I attempted to rate their prospects and predict which might provide the best returns.

The desire to provide some kind of stamp investment rating system ("S.I.R.S.?") is an ongoing obsession of mine, because it would be extremely valuable to be able to provide an educated guess as to which stamps will appreciate in value the most over the long-term. Obviously, a philatelic investor could use it to determine which stamps to target for investment, and a blogging hack who tips stamps, such as myself, might acquire immense influence over the stamp market by providing a credible system, and could even use such information to hoard the top-rated stamps before publishing it. Such a strategy would invite a friendly visit from the Securities and Exchange Commission and a probable prison term if the subject were stocks, which it isn't.

It is for this reason that I compare such a ratings system, or formula, to the Holy Grail of Arthurian legend, and as with the search for the mythical Grail, the paths to it are hidden due to lack of information, and remain obscured by clouds of ambiguity. Nevertheless, it is possible to list some of the criteria which might be taken into consideration in order to determine a stamp's rating.

Firstly, the formula's intended solution - the rating itself - would be a number which represents an estimate of a stamp's long-term growth, perhaps the estimated average annualized return (L.T.E.A.R.) on the investment over the next ten or twenty years. Hence, a stamp with an LTEAR of 15% have a rating of 15.

Variables which would factor into the formula would include the stamp's printing quantity and/or estimate of its current supply, the population of its country of origin and population growth rate, the country's economic growth rate and/or projection of the growth of its middle class, the country's current current population of stamp collectors, sources of external demand (such as topical, regional or "mother-country" demand, if the country of origin is a former colony, as well as the population of those with ties to the former country now living in other countries). Population aging rates might also be factored in, since serious stamp collectors tend to be middle aged or older. Ideally, the formula might also include a quantification of cultural factors, as some nations/ethnic groups have more affinity to stamp collecting than others; however, estimating this variable would probably prove insuperably difficult. Finally, there would have to be an application of the stamp market's version of the Heisenberg Principle - an incorporation of the effect of investors, speculators, investment tips, and even the rating system itself, on demand.

In all likelihood, the prospect of creating a SIRS will remain nothing more than a dream. I encourage any reader with an interest in pursuing the project to post a comment either here or on the Facebook StampSelectors group site.

Stamp Investment Tip: Puerto Rico 1898 Provisional Issues (Scott #200-201)

During the Spanish American War, U.S. troops landed at Guanica Bay in Puerto Rico, and mail service was established under General Wilson, the acting governor of the conquered territory. Crude provisional stamps were issued at La Playa de Ponce and Coamo in 1898 (Scott #200 and 201).

The Ponce Issue (Scott #200) was a violet 5c handstamp applied to envelopes, while the Coamo Issue (Scott #201) was an imperforate stamp, of which four types exist, as described in Scott. Quantities issued of the Ponce Issue are unknown, but in all probability, fewer than 100 were produced. About 500 of the Coamo stamps were issued. Scott '12 prices the Ponce stamp unused at $7,500.00 , and the Coamo stamps unused at between $ 650.00 and $850.00, and the used stamps between $1,050.00 and $1,350.00, depending upon type. Blocks of four of the Coamo stamps showing all four types exist, as do complete sheets of ten.

These rather boring-looking stamps appeal to collectors of U.S. Possessions, Puerto Rico, and Latin America. They're offered at auction on occasion, and should be purchased conditional on obtaining expertization, since dangerous counterfeits exist. Based on the projected growth in demand for U.S. Possessions stamps alone, they may be considered conservative investments. Should demand for stamps of Puerto Rico increase dramatically, then they will outperform this expectation.

With about 3.7 million people, Puerto Rico is an unincorporated territory of the United States, with an economy that is one of the most diverse in the Caribbean region. In addition to the island's population, there are also approximately 3.8 million Puerto Ricans living in the Continental U.S.. Services and industrial production have surpassed agriculture as the primary focus of economic activity and income. Encouraged by duty-free access to the U.S. and by tax incentives, United States firms have invested heavily in Puerto Rico since the 1950s. Sugar production has lost out to dairy production and other livestock products as the main source of income in the agricultural sector. Tourism has traditionally been an important source of income for the island. Due to immense debt problems and problems associated with Puerto Rico's status, annual GDP has actually declined by about 2.5% per year over the last 5 years.

Stamp Investment Tip: Senegambia and Niger 1903 Navigation and Commerce (Scott #1-13)

Senegambia and Niger was a short-lived administrative unit of the French possessions in Africa, formed in 1902 and reorganized in 1904 into Upper Senegal and Niger. These territories later became the Republics of Burkina Faso and Mali.

In 1903, the French issued the first stamps for the colony, a set of thirteen utilizing the Navigation and Commerce design (Scott #1-13). Scott '12 prices the unused set at $287.15, and while quantities issued are not known, it's likely that they were in the low ten thousands.

The set should do well as a conservative investment, based on the growth of interest in stamps of the French Colonies/Possessions. It has the added attraction of being an possible emerging market play, should a stamp collecting community develop within Burkina Faso or Mali.

Burkina Faso is a poor nation, with a population of about 16 million. Agriculture represents 32% of its gross domestic product and occupies 80% of the working population. Highly variable rainfall, poor soils, lack of adequate communications and other infrastructure, a low literacy rate, and a stagnant economy are all longstanding problems of this landlocked country. Many Burkinabé migrate to neighboring countries for work, and their remittances provide a substantial contribution to the balance of payments. The government is attempting to improve the economy by developing its mineral resources. Annual GDP growth has averaged just under 5% over the past 5 years.

Mali, another poor and landlocked African country, has a population of about 15 million. As with Burkina Faso, about 80% of the population is employed in agriculture, which is vulnerable to periodic droughts. The country has significant mineral reserves, which it is developing. These include: gold,kaolin, salt, phosphate, and limestone. Annual GDP growth has averaged just over 4% over the past 5 years.

Stamp Investment Tip: Costa Rica 1963 Native Animals (Scott #C354-61)

In 1963, Costa Rica issued a pleasant set of triangular stamps picturing native animals (Scott #C354-61). 30,000 sets were issued, and Scott '12 prices the unused set at $20.00.

According to a recent survey done by the American Topical Association, "Animals" are the most popular collecting topic among U.S. collectors, and the same probably holds true for collectors in the rest of the world. The set also has an "Eco-topical" theme, which should give it an additional boost as people feel increasingly sentimental about all of the wonderful animal species which they are wiping out. It is undervalued, especially since there are many collectors of Latin America who focus on the region as a whole, and also that it is likely that many of the sets were used as postage and discarded.

With 4 1/2 million people, Costa Rica is unique as the only Latin American country to have escaped the plague of repressive dictatorships and oligarchies endemic to the region. Costa Rica has generally enjoyed greater peace and more consistent political stability than many of its fellow Latin American nations. The government offers generous tax exemptions to those investing in the country,and in recent times electronics, pharmaceuticals, financial outsourcing, software development, and eco-tourism have become the prime industries in Costa Rica's economy. High levels of education among its residents make the country an attractive investing location. Annual GDP growth has averaged 5.6% over the last 5 years.


I have begun a new blog, "The Stamp Specialist", which will feature my buy prices for stamps which I am interested in purchasing. I've just posted a buy list for Costa Rica, including 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.

Stamp Investment Tip: India 2007 Satyagraha Centennial Souvenir Sheet (Scott #2208e)

In 2007, India issued a souvenir sheet commemorating the Centennial of Mahatma Gandhi's Non-violent Resistance, or Satyagraha, Movement (Scott #2208e). 200,000 were issued, and Scott '12 prices the unused souvenir sheet at $3.00 .

While the quantity issued may seem high compared to those of most stamps recommended by StampSelector, it should be kept in mind that India is a rapidly developing nation of over a billion people, and millions of Indian collectors will probably be converted to the insidious cult of Philately over the next decade.

As for the sheet's topical appeal, it couldn't be any stronger, as many Indians view the Mahatma as something like a semi-divine combination of Jesus, Washington, and Lincoln. Gandhi Topicals with low or moderately low printings, whether from India or elsewhere, are worthy of consideration as investments.

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.

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.