Stamp Investment Tip: New Hebrides (British) 1921 1p on 5p Olive Green, Inverted Surcharge (Scott #26a)

   I'm initiating coverage of New Hebrides, an island group in the South Pacific that now forms the nation of Vanuatu. The colony was administered as a condominium, a rare form of colonial territory in which sovereignty was shared by two powers, in this case Britain and France. 

   The first British issues were Fiji Edward VII stamps overprinted for use on the islands. These were followed by the Native Idols stamps of 1911, some of which were surcharged over the next 13 years when certain denominations were in short supply.

   From 1920-21, five stamps were surcharged "1p" and "2p" (Scott #26-30 ;Scott '14 CV for unused = $18.75). The scarcest of the values was the 1p on 5p Olive Green (#26), of which 9,900 were issued. While this set is worth considering,  there also exists an inverted surcharge (26a), which Scott '14 prices unused at $3,000.- . Quantities issued information is unavailable for this error, but I'm guessing that one or two sheets of 50 went through the overprinting machine upside-down. As with most rare overprinted issues, this stamp should be purchased conditional on obtaining expertization.

    The Republic of Vanuatu has about 100,000 citizens, so I think it unlikely that a significant collector population will develop there. However, due to the former dual colonial administration, New Hebrides stamps appeal to both collectors of British Commonwealth and French Colonies.

   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. 
  

Phila-Trivia: S. A. Taylor and the Mormon Stamp Hoax

   By the 1860s, stamp collecting had already become a very popular hobby, and many countries issued their first stamps during this period, fueling  interest further.  John Walter Scott published his first stamp catalog in 1868, a 21-page pamphlet with the long-winded title "Descriptive Catalogue of American and Foreign Postage Stamps, Issued from 1840 to Date, Splendidly Illustrated with Colored Engravings and Containing the Current Value of each Variety." 

S.A. Taylor

      One of the more colorful individuals who gravitated toward the absurd new fad of collecting bits of colored paper, and even paying good money for them, was Samuel Allan Taylor (1838-1913). Taylor was one of the pioneers of stamp collecting in the U.S. and published the first North American stamp journal, "The Stamp Collector's Record." He was also a notorious producer of bogus stamps, known as 'the Master Grafter', and was the leader of the 'Boston Gang' of philatelic forgers.

    He was at the height of his fraudulent career between 1863 and '79, and for one of his productions, a fictitious U.S. local, used his own portrait in the design. Many of Taylor's creations were obvious fakes. He had a keen sense of humor, evident in many stamps he produced, and he was partly an artist and partly a cynical faker who thrived in his profession. Taylor once said that he was "a man of flexible conscience and  speculative disposition." He contended that his output was for use as "space-fillers," the genuine stamps being too expensive for the average collector. He circulated his stamps widely and his patrons paid little for most of them, but he could work up a a very deceptive job when in the mood.

   Among Taylor's least convincing forgeries were imitations of two stamps of the Confederacy: one of the 1862 2c Blue, picturing a simian Jefferson Davis, and another of the 1863 2c Brown Red, with a depressed Andrew Jackson. 

   In 1863, an article appeared in "The Stamp Collector's Magazine" describing a stamp issued in 1852 by Mormon leader Brigham Young for prepaying postage to and from Salt Lake City and the rest of the Utah Territory. According to the article, "This and some other attempts at independent government on the part of Brigham Young and his followers caused the Washington authorities to dispatch a military force to the Great Salt Lake for the purpose of restoring order and allegiance. It met with but ill success, however."

   The stamps were printed in several colors, and bear a crude, block-printed likeness of Joseph Smith, the founder of the Church of Latter Day Saints. In 1864, postal authorities confiscated covers franked with these stamps bound for England. In December of that year, Taylor published an article in his journal admitting that they were "facsimiles" and included an illustration of his creations. When Brigham Young was interviewed about the matter,  he responded that he "had never thought of issuing a postage stamp." One can only speculate as to the identity of the source of the 1863 article which attributed some legitimacy and historical significance to the stamps, as to who tried to create canceled covers bearing them, and whether, after the government intervened, Taylor was motivated by fear of being thrown in prison to admit to creating the stamps as "facsimiles." In any case, this brazen attempt to rewrite history failed.

   I've recently read that these fakes, which may be considered "Cinderellas", sell for around $10.- to $15.- each. They'd make interesting additions to a Mormon topical collection. The stamps have potential dual market appeal to collectors of Cinderellas and Religion/Mormonism topicals, as fantasy stamps related to a religion of which there are over 15 million adherents worldwide. Assuming that no more than a few hundred of each remain, they could actually be good investments.

  The Stamp Auction Bidders and Consignors Union (SABACU) is a forum for discussing stamp auctions, and represents the interests of stamp auction bidders and consignors in their dealings with stamp auctioneers. All stamp collectors and dealers are welcome to join.  


 

Stamp Investment Tip: Newfoundland 1857 Pence Issue (Scott #1-9)

  

   Newfoundland issued its first stamps, the "Pence" Issue,  in 1857 (Scott #1-9). These pictured the Rose, Thistle, and Shamrock, representing the union of England, Scotland, and Ireland, a fitting symbol since many of the early immigrants to the colony were of Scottish or Irish descent, and wished to discard archaic hatreds as they made their way in the New World. The set includes the first triangular stamp issued in the Americas, the 3p Green (Scott #3).


   All of the stamps of this issue are scarce to rare, and worthy of consideration as investments. Five of the stamps (Scott #2, 4, 6, 7, and 9) are somewhat pricey, and the best way to purchase them is probably as used VF-appearing seconds with minor faults such as shallow thins or unobtrusive creases, if such can be had for 10% to 15% of catalog value. Should there be any doubt as to authenticity, insist on making the purchase conditional on obtaining expertization. There are some fairly convincing forgeries of this issue, especially by Sperati.

   I've listed these stamps, along with printing quantities and Scott '14 values for unused and used, below:

• 1857 1p Brown (Scott #1: 70,000 issued; $120.-  for unused; $ 200.-   for used)
• 1857 2p Scarlet Vermilion (Scott #2: 3,000; $ 17,500.-  for unused; $ 5,500.- for used)
• 1857 3p Green (Scott #3: 16,000; $475.-  for unused; $ 475.- for used)
• 1857 4p Scarlet Vermilion (Scott #4: 5,000; $11,500.-  for unused; $ 3,750.- for used)
• 1857 5p Brown Violet (Scott #5: 11,000; $ 300.-  for unused; $ 375.-  for used)
• 1857 6p Scarlet Vermilion (Scott #6: 5,000; $ 22,500.-  for unused; $ 4,750.-  for used)
• 1857 6 1/2p Scarlet Vermilion (Scott #7: 2,000; $ 4,500.-  for  unused; $3,750.-  for used)
• 1857 8p Scarlet Vermilion (Scott #8: 8,000; $ 450.- for unused; $ 475.-  for used)
• 1857 1sh Scarlet Vermilion (Scott #9: 2,000; $ 45,000.- for unused; $ 10,000.- for used)

  Many of the better stamps of Newfoundland were issued in modest quantities. I intend to revisit them in the future, as I am "doggedly bullish" (to badly mix metaphors) about better British North America in general. This area is very popular among collectors of both Canada and British Commonwealth, and the better items represent solid investments, as interest in stamp collecting in Canada is much stronger than it is in the U.S. .

  With a population of about 31 million, Canada is one of the world's wealthiest countries, and is one of the world's top ten trading nations. GDP growth has averaged just over 1% over the past five years, which takes into account the decline of 2.9% in 2009 due to the global financial crisis. Canada's population is expected to age significantly over the next decades. Canadians over 60 are projected to increase from 16.7% of the population in 2000 to 27.9% in 2025, and 30.5% in 2050. Consequently, in the future, many more Canadians will be spending time working on their stamp collections on cold winter days.

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

Stamp Investment Tip: Tunisia 1916 Semi-postals (Scott #B3-11)

   Tunisia was a French protectorate until 1956. In 1916, it surcharged some of the stamps from its regular Scenes set of 1906, issuing a semi-postal set funding relief of prisoners of war in Germany (Scott #B3-11). Only 9,474 sets were issued, and Scott '14  prices the unused set at $290.05.

  This scarce set has a potential dual market among collectors of both French Colonies and Tunisia.

   Tunisia was led  was led by the authoritarian government from 1987 until the Tunisian Revolution of 2011. Tunisia now finds itself as an export-oriented country in the process of liberalizing and privatizing an economy that, while averaging 5% GDP growth since the early 1990s, has suffered from corruption benefiting politically connected elites. The country has a diverse economy, and its major industries include agriculture, mining, manufacturing, petroleum products and tourism. This republic of 10.3 million people is considered a moderate Islamic nation, and was ranked the most competitive economy in Africa and the 40th in the world by the World Economic Forum. The European Union is Tunisia's main trading partner, and the country has also attracted major investments from several Persian Gulf countries.

  I view the 1916 Semi-postal set as an attractive investment based solely on interest from French Colonies collectors. Of course, should a significant stamp market develop among Tunisians, the set will be given an added boost.

   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: Panama 1936 Arosemena Surcharge (Scott #C19-20)

In 1936, Panama issued a pair of airmails commemorating the centenary of the birth of  President Pablo Arosemena by surcharging two stamps from its 1924 regular issue (Scott #C19-20). Arosemena was a progressive statesman who worked tirelessly to promote parliamentary democracy. Only 200 of #C19 and 30,000 of #C20 were issued, and Scott '14 prices them unused at $400.00 and $1.00, respectively.

The better stamp (#C19)  should be purchased conditional on obtaining expertization, as fake surcharges exist. It honors a prominent individual of historical significance to
Panamamians. Though it is half as scarce as the U.S. Inverted Jenny, it may be had for less than a thousandth of the cost.

   The relatively common #C20 might also be a  good investment. In all likelihood, most were probably used as postage and discarded, so probably fewer than 10,000 remain, in any condition. A double surcharge variety exists (Scott #C20a; CV= $60.- as unused), but unfortunately, the cost of getting it expertized - a necessary expense when purchasing scarce overprints - is too high in relation to the current value of the stamp to make it a worthwhile investment.

  As with all Latin American stamps, there are many collectors who focus on the region as a whole, which supplements demand for the stamps of the individual countries.

   A nation of 3.4 million people, Panama is the fastest growing economy in Central America. Panama's economy, because of its key geographic location, is mainly based on a well developed service sector heavily weighted towards banking, commerce, tourism, trading. The handover of the Canal and military installations by the United States has given rise to large construction projects. Tourism has grown rapidly during the past 5 years due to the government offering tax and price discounts to foreign guests and retirees. The country also has valuable copper and gold deposits, which are beginning to be developed. Annual GDP growth has averaged over 8% over the last 5 years.

   "The Stamp Specialist" blog features my buy prices for stamps which I am interested in purchasing. I've posted a buy list for Panama. Viewing dealers' buy lists every now and then is an excellent way to keep up with the vagaries of the stamp market.

Stamp Investment Tip: Italian States-Roman States 1852 50b and 1sc Papal Arms (Scott #10-11)

      Prior to the unification of Italy, it was divided into a number of independent states, known as the Italian States, most of which issued their own stamps. The Papal, or Roman, States, under the direct rule of the Pope, issued stamps from 1852 to 1868. The  Roman States were the last of the feudal principalities to be
incorporated into the Kingdom of Italy when the Italians annexed them after France abandoned its garrisons in Rome during the disastrous Franco-Prussian War of 1870.

   As with stamps of the German States, Italian States philately is a minefield laden with an abundance of reprints, fakes and forgeries.  Consequently, prices of Italian States stamps have lagged. With the exception of the rarities, many Italian States stamps often can be purchased in F-VF+ condition for 25%-35% of Scott. Better items which seem questionable should be purchased conditional on obtaining expertization.

   Two Roman States stamps worth considering are the high values of the 1852 Papal Arms Issue, the 50b Dull Blue and the 1sc Rose (Scott #10-11). 50,000 of the 50b and 10,000 of the 1sc were issued, and Scott '14 prices them at $16,000.- unused and $1,800.00  used for the 50b and $4,000.- unused and $3,600.-  used for the 1sc.

   The 50b is a rarity in unused condition, well beyond the affordability of most collectors, so I recommend purchase of it in used condition. The 1sc may is worth buying either unused or used. In either case, I reiterate that these stamps should be purchased only on condition of obtaining expertization.

      The main attraction of better stamps of the Roman States, once the authenticity hurdle has been overcome, is their current multiple market appeal among collectors of the stamps of Italy, Italian States, and the Vatican, which is the Roman States' much-reduced modern remnant. Also, there is the potential for growth in the stamp collecting population among Catholics worldwide, of whom there are over 1.2 billion. Many live in developing countries in which the middle classes are expected to grow dramatically. All stamps of the Roman States and the Vatican may be viewed as Religion topicals, and these may be of interest to this new generation of collectors.

Those interested in viewing a list of scarce stamps with printing quantities of 100,000 or fewer may wish to view the StampSelector Scarce Stamp Quantities Issued List, which currently contains over 9,700 entries. Researching quantities issued data is vital to determining in which stamps to invest.
   

Stamp Investment Tip: Macao 1892-93 Newspaper Stamps (Scott #P1-3)

(P3-Best centering that I could find!)

 From 1892-93, Macao surcharged three stamps from its 1888 King Luiz series, issuing a set intended for postal use when mailing newspapers (Scott #P1-3). 60,000 were issued, and Scott '14 prices the unused set at $ 21.-  .

  This is precisely the sort of neglected back-of-book sleeper that should do well as interest in stamps of the Far East continues to grow. The overprint  varieties, which run between 6 and 9 times the cost of the basic stamps, are also worthwhile; I estimate that no more than a few thousand of each of these were issued. It is likely that the vast majority of these stamps were used as postage and discarded.

  While I often recommend obtaining authentication when buying overprinted stamps, it's not necessary for this set, since the basic (non-surcharged) stamps are actually worth more than the surcharged ones. Even the overprint varieties are not worth significantly more.

In my opinion, all of the better stamps of the European and other foreign former Colonies/Possessions in China should be considered for investment, as they have dual markets both in their former home countries and in China.

In 1999, Macao became a special administrative district of the People's Republic of China. With a population of about 500,000, Macao's economy is dependent upon tourism, much of it geared toward gambling, although important secondary sectors include apparel manufacturing and financial services. Annual GDP growth has been high, averaging over 9% over the last 7 years. The fact that much of Macao's economic growth has been driven by a regional monopoly on gaming is a little worrisome, because obviously there is no guarantee that the People's Republic won't relax restrictions on gambling in the rest of China, allowing more competition. Nevertheless, I feel that certain scarce issues of this former colony are grossly undervalued, given the number of collectors who will chasing them.

The Stamp Auction Bidders and Consignors Union (SABACU) is a forum for discussing stamp auctions, and represents the interests of stamp auction bidders and consignors in their dealings with stamp auctioneers. All stamp collectors and dealers are welcome to join. 
   

Stamp Investment Tip: Georgia 1996 Birds Issues (Scott #140-41, 142-43)

  I'm initiating coverage of stamps of the Republic of Georgia with its 1996 set of two miniature sheets of 16 picturing birds (Scott #140-141) and the accompanying set of two souvenir sheets (Scott #142-43) The miniature sheets are quite attractive, while the souvenir sheets aren't. In any case, 37,000 of the miniature sheet sets and 23,000 of the souvenir sheet sets were issued, and Scott '14 prices them unused at $22.-  and $12.50, respectively.

   This issue appeals to Animal/Bird topicalists as well as being an inexpensive bet on the growth of  Georgia's economy. Recommending it is consistent with my belief that one of the best ways to play the new and recently resurrected countries of Europe and Asia is to focus on popular topicals with low printings.

  With a population of about 4.5 million, the Republic of Georgia suffered severe damage to its economy due due to civil strife in the 1990s. With the help of the IMF and World Bank, it has made substantial economic gains since 2000, achieving robust  growth and curtailing inflation. Georgia has a sizable hydroelectric capacity, a factor that has become an increasingly important component of its energy supplies and policies. The country’s topography and abundance of hydro resources give it serious potential to dominate hydroelectric markets in the Caucasus region. Agriculture and tourism have also been principal economic sectors. Annual GDP growth has averaged just under 5% over the past 5 years.

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

Stamp Investment Tip: Colombia 1940 Santander Centenary (Scott #475-84)

   In 1940, Colombia commemorated the centenary of the death of General Francisco Santander, the leader in Colombia's War of Independence, and the nation's first president (Scott #475-84). Only 5,000 sets were issued, and Scott '14 prices the unused set at $ 109.10.

   In my opinion, the set is grossly undervalued, and should be purchased in F-VF+, NH, LH, or used condition.

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. A dialogue between the Colombian government and guerrillas of the FARC-EP began in 2012 with the aim to find a political solution to the armed conflict. The Colombian government and rebel groups met in Cuba, and as of November 2013, the talks have been promising. The Government also began a process of assistance and reparation for victims of conflict.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 a violent, unstable mess.

"The Stamp Specialist" blog features my buy prices for stamps which I am interested in purchasing. I've posted a buy list for Cuba. Viewing dealers' buy lists every now and then is an excellent way to keep up with the vagaries of the stamp market.
 

Stamp Investment Tip: Australia 1932-33 Officials (Scott #06-11)

From 1932-'33, Australia overprinted six stamps "OS" (for Official Service), creating a set of Officials (Scott #06-11). 48,000 sets were issued, and Scott '14 prices the unused set at $148.75 ($275.- for NH) . In all likelihood, many were used as postage by various government offices and discarded.

While I sometimes advise obtaining expertization for overprinted issues, it's not necessary in this case because the Officials are not worth considerably more than the basic stamps.

I favor all better stamps of Australia. As a a prosperous nation of 22 million people, it has a diverse economy, with thriving service, agricultural, and mining sectors. Annual GDP growth has averaged 2.6% over the past 15 years. Recently, there has been considerable growth in mining and petroleum extraction, in part due to increased exports to the resource-hungry Chinese market. Furthermore, it is likely that Australia's stamp collecting population will grow significantly as the nation ages. The percentage of Australians over 60 is projected to rise from 16% in 2000 to 24.8% in 2025, and 28.2% in 2050.

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. 

General Commentary: The Global Growth of the Middle Class

   One of the most radical transformations of the 21st century could be the explosive growth of the middle class, especially in countries where virtually no middle class existed until recently.  I am convinced that aside from the many beneficial social and political effects of this change, it will also mean that more people will have the time and money to engage in recreational activities, including hobbies such as stamp collecting.

   According to Ernst and Young, the population of the world's middle class will increase by over 260% from 2009 to 2030, and by that year, two thirds of the middle class will live in the Asia-Pacific region. These trends, along with a concurrent trend toward global aging, have important implications for the philatelic investor.

    The break down of the projections provided by Ernst and Young is interesting: only North America's middle class declines in both absolute terms and as a proportion of the world's population: from 338 million/ 18% (2009) to 322 million/ 7% (2030). Europe's rises slightly in absolute terms but declines proportionately: from 664 million/ 36% to 680 million/ 14%.  It is the developing world which experiences the most dramatic transformation, led by Asia/Pacific: 525 million/28% to 3,228 million/ 66%. Central and South America and the Middle East/North Africa see a dramatic rise in absolute terms along with a corresponding proportionate decline: 181 million/10% to 313 million/6% and 105 million/6% and 234 million/5%, respectively. Sub-Saharan Africa's middle class increases in population by 334%, from 32 million to 107 million, while remaining 2% of the the global total.

   Obviously, these are only projections, and any number of circumstances may render them inaccurate. Furthermore, many other factors may also influence the future growth or decline in demand for a particular country's (or region's) stamps, so the middle class population stats should not be viewed alone when making such predictions.

   Other than the general positive effect of this "rising tide lifting all boats" on the hobby, the demand for certain stamps will be heightened when favorable trends coincide. The greatest increases in demand will be for better issues with popular topics from countries where both the growth of the middle class and aging of the population are occurring most rapidly. 

    The Stamp Auction Bidders and Consignors Union (SABACU) is a forum for discussing stamp auctions, and represents the interests of stamp auction bidders and consignors in their dealings with stamp auctioneers. All stamp collectors and dealers are welcome to join. 
  

Stamp Investment Tip: Canada 1924 George V Imperforates (Scott #136-38)

   From 1911-31, Canada issued its "Admiral" series - handsome stamps picturing George V in a naval uniform. Due to this issue's large number of formats and varieties, there are many specialists in this issue among among Canadian collectors, similar to Washington/Franklin fanatics in the U.S..

   In 1924, the three low values of the set were issued imperforate. 50,000 of each of the 1c and 2c, and 100,000 of the 3c were issued - low printings for Canadian stamps. Scott '14 prices the set unused at $87.50 ($162.50 for NH) and as a set of pairs - $212.50 (397.50).

I continue to favor all better stamps of British North America as worthy of consideration. The area is very popular among collectors of both Canada and British Commonwealth, and the better items represent solid investments, as interest in stamp collecting in Canada is much stronger than it is in the U.S. .

With a population of about 31 million, Canada is one of the world's wealthiest countries, and is one of the world's top ten trading nations. GDP growth has averaged 2.2% over the past five years, which takes into account the 0% growth of 2009 due to the global financial crisis. Canada's population is expected to age significantly over the next decades. Canadians over 60 are projected to increase from 16.7% of the population in 2000 to 27.9% in 2025, and 30.5% in 2050. Consequently, in the future, many more Canadians will be spending time working on their stamp collections on cold winter days.

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

Stamp Investment Tip: Lagos 1882-1902 Victoria (Scott #13-38)

 From 1882-1902,  Lagos, a British Protectorate which later became part of Nigeria, issued a set of twenty six stamps picturing a young Queen Victoria for Lagos (Scott #13-38). The Scott Catalog doesn't treat this issue as a set, because there were at least two types of many of the stamps issued. Many of its stamps are quite undervalued, and one could do worse than attempting to form a small specialized collection comprising the set, its varieties, covers, etc..

I've listed those stamps from the set with issuance quantities known (or quantities remaining after supplies were destroyed by postal authorities) of 100,000 or less, and included the Scott '14 values for unused.

•  2p Gray(Scott #17) 41,780 - $ 90.-
•  3p Orange Brown (#20) 24,540 - $ 26.-
•  3p Lilac and Brown Orange (#21) 143,820 (believed destroyed: 85,800) - $ 3.-
•  4p Rose (#22) 36,240  - $ 200.-
•  4p Violet (#23) 41,760  - $ 150.-
•  5p Lilac and Green (#25) 92,160 (believed destroyed: 57,540) - $ 3.-
•  6p Olive Green (#26) 22,500  - $ 9.-
•  6p Lilac and (Red Violet or Carmine Rose #27 and #28) Total for both: 86,340  (believed destroyed: 23,400) - #27: $ 5.50, #28: $ 5.75
•  7 1/2p Lilac and Carmine (#29) 55,620- $ 3.25
• 10p Lilac and Yellow (#30)  43,380 (believed destroyed: 23,100) - $ 3.75
• 1sh Orange (#31) 22,200 - $ 14.-
• 1sh Yellow Green and Black (#32)  86,460 (believed destroyed: 26,220) - $ 6.50
• 2sh6p Olive Brown (#33) 900  - $ 375.-
• 2sh6p Green and Carmine Rose (#34)  28,260 (believed destroyed: 18,060) - $ 27.50
• 5sh Blue (#35) 600 - $ 700.-
• 5sh Green and Ultramarine (#36)  28,320 (believed destroyed: 18,900) - $ 47.50
• 10sh Brown Violet (#37 - the set's key stamp) 420  - $ 1,700.-
• 10sh Green and Brown (#38) 24,720 (believed destroyed: 13,620) - $ 110.-

Stamps of Lagos have the potential for a strong dual market among collectors of British Commonwealth and Nigeria.

A nation of over 154 million people, Nigeria is an an emerging market country, and is rapidly approaching middle income status, with its abundant supply of resources, well-developed financial, legal, communications, transport sectors and stock exchange (the Nigerian Stock Exchange), which is the second largest in Africa. It is the eighth largest exporter of petroleum in the world. GDP growth has average almost 6% over the last 5 years. However, the country also has major problems, including corruption, human rights abuses, grossly unequal distribution of income, and internal religious and tribal conflicts.

Based purely on the growth of demand from British Commonwealth collectors, this set and its scarcest  values (#33,33, and 37) represent a conservative investment with little downside risk. Should Nigeria develop even a modest base of stamp collectors, it will soar.

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: Cuba 1930 Central American Games (Scott #299-303)

   In 1930, Cuba issued a set of five stamps celebrating the Central American Games (Scott #299-303). 50,000 sets were issued, and Scott '14 prices the unused set at $20.65 ( $32.50.- for NH) .

   The set has appeal as a Sports Topical, particularly to Latin American collectors who specialize in stamps honoring this regional competition.

As with most of Latin America, Cuba has issued many stamps which I feel are grossly undervalued. This set has wide appeal throughout Latin America, and should do very well, especially after Cuba rejoins the free world. Note that "gloppy" or toned gum are typical defects found on many of these sets, so select for those that have clean gum.

 
   I believe it inevitable that Cuba will join the fold of more-or-less free nations, and that tourism and trade will explode as a result. Currently, the average wage of each of the 11 1/2 million people living in this "socialist utopia" is under $20 per month, and GDP per capita is 107th in the world. Annual GDP growth has been high, averaging 6.4% over the last 5 years, but given the levels of corruption and favoritism shown to high ranking Communist Party members, it's an open question whether much of that new wealth has been filtering downward. Eventually, something will have to give. The current market for Cuban stamps, especially of the Pre-Castro Period, is bolstered by interest of stamp collectors within Cuban-American community, currently about 1.6 million strong, and far wealthier than their compatriots on the island. Interest in Cuban stamps is likely to increase, especially given the likely prospect of a replacement of the stale, "gerontocratic" regime within a decade or so.


"The Stamp Specialist" blog features my buy prices for stamps which I am interested in purchasing. I've posted a buy list for Cuba. Viewing dealers' buy lists every now and then is an excellent way to keep up with the vagaries of the stamp market.

Stamp Investment Tip: United Nations -Kosovo 2005 Archeological Artifacts (Scott #38-41)

As part of the treaty negotiations ending the 1998-99 Kosovo War, the United Nations set up an interim administration mission (UNMIK) in Kosovo, which functioned from 1999 to 2008, when Kosovo declared its independence. The UN issued stamps for this provisional governing body, and many of the UN-Kosovo sets have topical interest and were issued in small quantities. In my opinion, the better UNMIK sets make far better investments than those issued by any of the three regular UN Offices (New York, Geneva, and Vienna).

In 2005, UNMIK issued a set of stamps picturing Archeological Artifacts (Scott #38-41). 50,000 were issued, and Scott '13 prices the unused set at $ 27.00. The set has potential multiple market appeal to collectors of Yugoslavia,  United Nations, and Art Topicalists.

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.

Kosovo is now a quasi-independent state with about 1.7 million citizens. Before Independence, it was the poorest part of the former Socialist Federal Republic of Yugoslavia, and in the 1990s its economy suffered from the combined results of political upheaval, the Yugoslav wars, Serbian dismissal of Kosovo employees, and international sanctions on Serbia, of which it was then part. After 1999, it had an economic boom as a result of post-war reconstruction and foreign assistance. In the period from 2003 to 2011, despite declining foreign assistance, growth of GDP averaged over 5% a year. This was despite the global financial crisis of 2009 and the subsequent eurozone crisis. A major deterrent to foreign manufacturing investment in Kosovo was removed in 2011 when the European Council accepted a Convention allowing Kosovo to be accepted as part of its rules for diagonal cumulative origination, allowing the label of Kosovo origination to goods which have been processed there but originated in a country elsewhere in the Convention.

Those interested in viewing a list of scarce stamps with printing quantities of 100,000 or fewer may wish to view the StampSelector Scarce Stamp Quantities Issued List, which currently contains over 9,700 entries. Researching quantities issued data is vital to determining in which stamps to invest.
   

Stamp Investment Tip: Germany - Offices in China 1900 Foochow Issue (Scott #16,16a)

16a, 16

 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.

  In 1900, it was one of the colonial powers fighting outraged Chinese nationalists waging the Boxer Rebellion. During this time of upheaval, two different 10 pfennig stamps were locally hand-stamped "5 pf" in order to meet a shortage of this denomination (Scott #16,16a). These stamps are distinguished from one another by the angle of the black "China" overprint (56 degrees for #16, and 45 degrees for #16a). 2,500 of #16 and 1,400 of #16a were issued, and Scott '14 prices them unused at $600.-  and $550.- , respectively.

As with most valuable overprinted stamps, I strongly advise purchasing them conditional on obtaining expertization.

I favor all better stamps of the various foreign offices in China long-term investments. As with all stamps issued by the colonial powers in China, the Foochow Provisionals 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 the Foreign Offices 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 encouraged to join the "Stampselectors" group at Facebook. The group hosts lively discussions concerning stamp investment and practical aspects of collecting, and provides a useful venue for those who wish to buy, sell, or trade stamps.   

Stamp Investment Tip: Turkmenistan 2000 UN Declaration Souvenir Sheet (Scott #72)

  In 2000, Turkmenistan issued a souvenir sheet of 24 stamps picturing flags of various nations, and celebrating the United Nations' Declaration of the country's neutrality (Scott # 72). 5,500 were issued, and Scott '14 prices the unused sheet at $70.00.

   The set has multiple appeal to UN and Flag topicalists, and I believe that focusing on scarce popular topicals is a prudent means of speculating on stamps of the newly independent nations of Central Asia. Whether or not demand develops within these countries for the stamps that they issue, there will always be worldwide demand for their most popular topicals.

A nation of 5.1 million, Turkmenistan is a largely desert country with nomadic cattle raising, intensive agriculture in irrigated oases, and huge gas and oil resources. It possesses the world's fourth largest reserves of natural gas, and is also the world's tenth largest producer of cotton. As in the Soviet era, central planning and state control pervade the system, although there is gradual progress toward greater privatization. Annual GDP growth has averaged over 8% over the last 5 years, mostly due to increasing demand for the country's oil.

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: Brazil 1935 Ragged Revolution Centenary (Scott #407-10)

In 1935, Brazil issued a set of four stamps commemorating the "Ragged Revolution" (also known as the Ragamuffin War), which is considered the second bloodiest of the failed wars of independence in the Brazilian Empire, after the War of Cabanagem (Scott #407-10). 100,000 sets were issued, and Scott '14 prices the unused set at $12.30 .

This is a very inexpensive set, considering Brazil's population and prospects for economic growth over the coming decades.

With 191 million people, Brazil is the largest economy in Latin America, and the world's eighth largest. Political and economic reforms have given the country a brighter future than it had in the bad old days of oligarchical dictatorship. The Brazilian economy is diverse, the country is aggressively investing in its future by generously funding technological research and education, and exports are booming. Annual GDP growth has averaged a little over 5% over the last 5 years.

There are a number of undervalued Brazilian issues with printing quantities of 10,000 to 100,000, some of which have topical appeal, and recommending them for accumulation seems a no-brainer. Brazil looks destined to become an economic superpower, and even if it mirrors the philatelically anemic U.S. and only one out of a thousand Brazilians become serious stamp collectors, they'll be competing for their nation's better stamps, only to find that the cupboard is bare.

 "The Stamp Specialist" blog features my buy prices for stamps which I am interested in purchasing. I've posted a buy list for Brazil. Viewing dealers' buy lists every now and then is an excellent way to keep up with the vagaries of the stamp market.

Stamp Investment Tip: French Southern and Antarctic Territories 1968 WHO (Scott #31)

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.

In 1968, the F.S.A.T. issued a set of a stamp honoring the World Health Organization (Scott #31).39,000 were issued, and Scott '14 prices it unused at $65.- .

Demand for stamps of the French Antarctic is strong in France and among collectors of French Colonies/Area, and this has obvious topical appeal as both a U.N. and Medicine 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.

The Stamp Auction Bidders and Consignors Union (SABACU) is a forum for discussing stamp auctions, and represents the interests of stamp auction bidders and consignors in their dealings with stamp auctioneers. All stamp collectors and dealers are welcome to join.