Stamp Investment Tip: Poland 1947 Polish Culture Souvenir Sheet (Scott #412A)

In 1947, Poland issued a colorful souvenir sheet honoring Polish Culture, and featuring famous Poles, including Frederic Chopin and Marie Curie (Scott #412A). Only 50,000 were issued, and Scott '10 prices the souvenir sheet at $ 210.00.


With 38 million people, Poland is one of the fastest growing economies of all of the former Communist countries, with annual GDP growth averaging 5.5% over the past 5 years. The nation has steadfastly pursued a policy of economic liberalization, and was not severely impacted by the recent global financial crisis. It is likely that Poland will be one of the world's fastest growing economies over the next several decades. In addition, there are some 10 million Polish Americans with ties to the country.

Better stamps of Poland will rise in value as the country prospers and the population of Polish stamp collectors increases. Interest in Polish history and national pride are important elements in the culture of this oft-conquered people, and I am a big believer in taking into account the thematic interests of a collecting population when assessing the investment potential of an item.

Those interested in joining a community of stamp collectors, investors, and dealers are welcome to join the "Stampselectors" group at Facebook. The group provides an excellent venue for trading stamps with members from around the world, as well as being a forum for discussion of stamp investing and practical aspects of collecting.

Stamp Investment Tip: Egypt 1956 Scout Jamboree Souvenir Sheets (Scott #B15Note)

In 1956, Egypt celebrated the 2nd Arab Scout Jamboree by issuing a set of semi-postal stamps (Scott #B13-15) and a pair of souvenir sheets (perf. and imperf. - Scott # B15Note) Only 3,800 sets of the souvenir sheets were issued, and Scott '10 prices them unused at $1,500.00 . These scarce souvenir sheets have dual market appeal as Boy Scout Topicals issued by an emerging market country for which I feel bullish about the stamp market. Worldwide membership of the Boy Scouts is estimated at 25 million, and Scouting topicals are extremely popular internationally.

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

Stamp Investment Tip: Kazakhstan 1996 Butterflies (Scott #161-64)

Many of the new and newly resurrected nations of Central Asia and Europe have issued quite a few stamps and souvenir sheets in very modest quantities, and some of these represent interesting opportunities for speculation for those who wish to "get in on the ground floor." As these countries have only recently begun issuing stamps, their collector populations are minimal, although they are unlikely to remain so, especially if the countries prosper. The best way to play them is to target popular topicals with low issuance quantities, as these will have worldwide appeal, whether interest in these countries' stamps grows significantly or not.

In 1996, Kazakhstan issued a set of stamps picturing butterflies (Scott #161-64). Only 25,000 sets were issued, and Scott '10 values the unused set at $ 3.30. Butterflies are among the most popular sub-categories of Animal Topicals, and that, combined with the inexpensiveness of the set, makes it a very low-risk speculation.


A nation of 16 million, Kazakhstan is known to many outsiders from the somewhat demeaning film comedy "Borat." It is the 9th largest country in the world, with a territory greater than that of Western Europe, although its population density is less than 15 per square mile. Kazakhstan has plentiful reserves of oil, natural gas, uranium, chromium, lead, zinc, manganese, coal, iron, and gold. It also has a major agricultural sector, and is the seventh largest producer of grain. Annual GDP growth has averaged 6% over the last 5 years.

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

Stamp Investment Tip: Madagascar 1884-86 British Consular Mail Stamps (Scott #1-58)

Between 1884 and 1886, the British Consulate in Madagascar, then a French protectorate, produced stamps for use by British citizens residing there (Scott #1-58). At the time, the island was rife with disputes between the two colonial powers and also with the native population which, oddly enough, wished to govern itself.

The Consular Mail stamps were gummed in one corner shortly before they were used, and often torn off of envelopes by postal clerks, as they were not accepted as legitimate postage by the Universal Postal Union. Most of the remaining unused examples do not have gum, and most of the used are faulty to some degree. Estimates of quantities produced range from under 100 for the rarest of these stamps to about 4,000 for the most common, and Scott values range from $ 90.00 to
$ 12,000.-. Covers are extremely rare.

These stamps are highly prized by British Commonwealth collectors, and should be considered a conservative investment. There is the possibility that there might eventually be a demand for them in Madagascar, but probably not for a long while. Were a stamp market to develop there, however, the values for these stamps would soar.

A nation of 20.6 million people, the Republic of Madagascar remains a poor, though rapidly developing, nation with considerable growth potential. It is still heavily reliant on agriculture, although potential sources of growth include mining, petroleum, light manufacturing, and tourism. The government has embarked on a course of financial reform, including aggressively seeking foreign investment. Annual GDP growth has averaged 3% over the last 5 years.

Stamp Investment Tip: 1922 Malaya-Borneo Exhibition Issue

In 1922, an exhibition showcasing the economic potential of British Malaya and North Borneo was held in conjunction with the Prince of Wales' visit to Malaya. Three Malayan States, North Borneo. and the Straits Settlements issued sets commemorating the exhibition by overprinting regular issues. All are scarce and undervalued, and have dual market appeal to collectors of British Commonwealth and Malaya/Malaysia. I've listed them, along with quantities issued and their Scott '10 Catalogue Values for unused, below:


- Malaya-Kedah- Sc.#3a-33a (8) - 7,358; Scott '10 CV= $ 131.25
- Malaya-Kelantan- Sc. #3a-23a (9) - 1,159; Scott '10 CV = $ 393.00
- Malaya-Trengganu- Sc.#8a-24a (11)- 776; Scott '10 CV = $ 567.00
- North Borneo - Sc.#136a-53c (14)- Est. under 20,000; Scott '10 CV = $ 94.40
- Straits Settlements - Sc.#151d-99d (19)- 3,825; Scott '10 CV = 624.75

A rare error variety exists of one of the stamps of the Kedah set: the 25c Red Violet and Blue with inverted overprint (Scott #13b, with a Scott '10 Value of $ 1,200.- as unused). Purchase it conditional on obtaining expertization.

Also, the Straits Settlements set is of interest to collectors of Singapore.

With a population of over 28 million, Malaysia is an emerging market nation and the 29th largest economy in the world. It has abundant minerals and petroleum, vast forests, as well as a thriving agricultural sector. Nevertheless, over the last four decades, the Malaysian government has committed the nation to a transition from reliance on mining and agriculture to manufacturing, and is moving to conserve its remaining forests and reforest the overcut areas. The government has recently taken steps to make Malaysia more business-friendly, and the number of Malaysians living in poverty has also decreased. As of 2007, average wages were around $34 per day, up from about $9 per day in 1999. Annual GDP growth has averaged almost 6% over the last five years, although the country is taking a hit in 2010 as a result of the global financial crisis.


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. 

Practical Advice: The Importance of Condition

Condition-grading is perhaps the most important skill that anyone who wishes to engage in the business of buying and selling stamps must learn. Beginners and those outside of the hobby are often surprised to learn that depending upon its condition, a stamp may sell for as little as 2% to as much as 100% of its catalogue value, or more. This is particularly true of U.S. stamps. Due to the current grading fetish (described in an earlier article), some U.S. stamps graded XF or higher have sold for multiples of their catalog values. So-called "condition-rarities," graded Superb or "Gem," have even sold for hundreds of times their Scott values.

Many beginning collectors make the costly mistake of purchasing overgraded stamps - stamps which have been described as being in better condition than they really are. While most stamp dealers and auctioneers are honest, there are some who intentionally overgrade stamps, and some who even alter stamps so that they appear to be in better condition than they are. Most dealers are not blatantly dishonest, but there are many who accidentally overlook defects, or are somewhat "liberal" when grading stamps which they are trying to sell. Also, some issues are notoriously poorly centered, and are graded on a "for issue" basis- for instance, "Very Fine for issue. " To an extent, condition-grading is more of an art than a science.

Average...... Fine....... F-VF........ Very Fine

When examining a stamp, the obvious first step is to look at its front. Centering is the first consideration. Pictured above are four 2c Washington stamps which grade from Average to Very Fine. Note how the perforations cut into the design at bottom of the first (Average) stamp. The perforations clear the design of the second (Fine) stamp, but are still close to the design at left and on the bottom. The third (Fine to Very Fine) stamp is better centered than the second, and the fourth (Very Fine) is the best centered of the four. Two higher grades also exist - Extremely Fine (almost perfectly centered), and Superb (perfectly centered). Unfortunately, the author did not possess XF or Superb examples of this stamp to scan.

Other criteria also apply when examining a stamp, such as whether the stamp has a defect or fault. Defective stamps are known as seconds, because they are the "second choice" of most collectors, who generally would prefer to own a sound, fault-free stamp. Nevertheless, the frontal appearance of a stamp is important in determining its value, even if it is faulty. A second which appears to be Very Fine is worth more than a second which appears worse.

Among the defects which are obvious from the front are faded or oxidized colors. Fading is usually caused by excessive exposure to light over a long period of time. Oxidation is a chemical process which effects certain types of inks, and causes them to rust. Reds and oranges often take on a brownish color when they oxidize. Other considerations include whether the stamp (if used) has a killer cancel which obstructs much of the design, abrasions, pin-holes, short perfs, tears or pieces missing, creases, stains, or inclusions. Inclusions are contaminant particles inadvertently mixed into the paper when it is being produced, and if such particles are large enough to be obvious, they can detract from the stamp's value. When examining old stamps, especially those without gum and for which the catalog value is much greater for unused than used, it is always prudent to look for indications of chemically-removed cancels. These may be difficult to detect, but a UV light will sometimes reveal traces of them.

The next step in the process is to turn over the stamp and examine its back. If the stamp is unused and was issued with gum, then gum condition will be an important consideration. The highest grade for gum is OG NH (original gum, never hinged), followed by LH (lightly hinged), OG (more heavily hinged), HR (hinge remnant) and No Gum. A stamp which is NH, but with disturbed gum, will be worth less than a NH stamp with pristine gum. Sometimes gum will appear brown or toned. Often, stamps which were stored under conditions of high humidity have toned, or tropicalized, gum, and toning can detract from the value of a stamp, especially if it is heavy (dark) or affects the paper as well as the gum.

Another type of defect of which to be aware when examining the back of a stamp is known as a thin. A thin is actually an abrasion of the back of a stamp, usually caused by careless removal of a hinge, or by heedlessly pulling the stamp off of something to which it was partially stuck. In effect, a part of the stamp's paper has been torn off its back and rendered "thinner" than the rest of the stamp. Larger, deep thins detract more from a stamp's value than smaller, shallower ones. The best way to detect a thin is to place a stamp in a black watermark basin (front side down), pour in some watermark fluid, and then observe whether a portion of the stamp appears darker than the rest of it. Of course, if the stamp is watermarked, one must take into account that the watermarked area will also appear darker, even if there is no thin. Occasionally one may also find a stamp for which the seller has attempted to conceal a thin, either by attaching a heavy hinge remnant to it, or by writing over it in pencil.

When purchasing an expensive stamp, the buyer should require expertization as a condition for purchase if he has any doubts whatsoever about either a stamp's authenticity or its actual condition. Most issuers of certificates will comment on a stamp's condition as well as its authenticity, and a few actually grade stamps. While there is nothing wrong with selling a repaired or altered stamp as long as it is described as such, there are dishonest individuals who profit from misrepresenting such stamps as being in their original condition. Repairing stamps is a lucrative business in Europe, especially in Germany, and there are practitioners of the trade who do a pretty convincing job of repairing tears, ironing out creases, filling thins, removing cancels, and regumming stamps. To an extent, developing an instinct or "gut-feeling" about when a stamp's authenticity or apparent condition seems questionable requires time and experience, but hopefully this article will serve as a start for those who are new to the game, and will make the learning experience less of a "school of hard knocks."

Stamp Investment Tip: Mexico 1940 Stamp Centenary (Scott #754-58, C103-07)

In 1940, Mexico issued a compound set celebrating the Centenary of the Postage Stamp (Scott #754-58, C103-07). Only 5,000 sets were issued, and Scott '10 values the unused set at $ 141.00 ($ 340.00 for NH). Aside from the fact that this is a scarce set from a rapidly developing country, demand for it is augmented by its appeal as a "Stamps-on-Stamps" topical.


I've never seen a first day cover for this issue, but I'd guess that there are probably a few hundred of them around. If you happen to find one in decent shape, with a nice cachet, and selling for a slight premium over the cost of a used set (or less), then jump on it.


With a population of about 109 million, Mexico has experienced consistent annual GDP growth of between 3 and 5%. It has a diverse and developing economy, but modernization remains a slow and uneven process, and current challenges include addressing income inequality, crime, and corruption, upgrading the infrastructure, and reforming tax and labor laws. Stamps of Mexico are popular among collectors in the U.S. as well as in Mexico, and those who wish to learn more about Mexican stamps should consider joining the Mexico Elmhurst Philatelic Society International (M.E.P.S.I.). MEPSI provides many useful services for collectors of Mexico, including expertizing Mexican stamps.

I have begun a new blog, "The Stamp Specialist", which will feature wholesale buy prices for stamps which I am interested in purchasing. The first such buy list is for Mexico, 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: Russia 1934 Zeppelin Issue (Scott #C53-57)

In 1934, the Soviet Union issued a strikingly modern set of five Zeppelin stamps (Scott #C53-57), which were intended for use on one of the South America flights of that year. 40,000 sets were issued, and Scott '10 values the unused set at $ 505.00.

The set strongly appeals to both collectors of Russia and of Zeppelin stamps. Zeppelin stamps and covers are extremely popular among "Zepp" collectors and Aviation topicalists, especially in Europe. Those issued by destination-countries which are likely prospects for rapid economic development are compelling investments, in my opinion.

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

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

Stamp Investment Tip: Hong Kong 1862 Victoria (Scott #1-7)

In 1862, Hong Kong issued its first postage stamps (Scott #1-7). The two high values are particularly scarce, but also pricey. The 48c Rose (Scott #6) had a printing of 31,260 and the 96c Gray (Scott #7) - only 21,600, and Scott '10 prices them unused at $ 3,000.- and $ 4,000.-, and used at $ 400.- and $ 525.- , respectively.


I favor all of the better stamps of Hong Kong, as they appeal to collectors of China, Hong Kong, and British Commonwealth - three growing markets. While these two stamps may seem expensive, it is likely that only a few thousand remain in any condition. If buying them used, ascertain that they have postal, and not revenue, cancels, and obtain a certificate if necessary.


Centering of this issue tends to be poor, so expect to pay a premium for examples with four margins.

Stamp Investment Tip: Niger Coast Protectorate 1897-98 Victoria (Scott # 55-63)

The Niger Coast Protectorate, a territory originally known as the Oil Rivers Protectorate, was a typical colonial "company territory" managed by the Royal Niger Company, which controlled the land, its resources, and its people, for the betterment of its shareholders. The company surrendered its charter to the Crown in 1899, and the Protectorate was incorporated into the two new territories of Northern and Southern Nigeria, which were combined to form the colony of Nigeria in 1914. During its seven-year existence, the Protectorate issued 63 stamps (plus varieties), including some notable rarities. Among the more affordable and accessible is its last issue, the 1897-98 Definitives (Scott #55-63), the third such issue with a design portraying an elderly Queen Victoria. Only 5,500 sets were issued, and Scott '10 values the set unused at $ 193.25 .

Stamps of Niger Coast Protectorate have the potential for dual market appeal 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 an abundant supply of resources, well-developed financial, legal, communications, transport sectors, and a stock exchange which is the second largest in Africa. It is the eighth largest exporter of petroleum in the world. GDP growth has averaged 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, the set represents a conservative investment with little downside risk. Should Nigeria develop even a modest base of stamp collectors, the set will soar.

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

Stamp Investment Tip: India- Convention States- Nabha 1885-87 Overprint Issue (Scott #11-25)

During the Raj period, the Convention States of Chamba, Faridkot, Jhind, Nabha, and Patiala had postal agreements with Great Britain, allowing their stamps franking power throughout all of British India. Stamps of the Convention States were all overprinted stamps of British India, in contrast to the stamps of the Indian Feudatory States, which were issued independently, and which were only valid within the issuing states.The stamps of the Convention States are rich in varieties and errors. Typical errors include inverted overprints, spelling mistakes in English or Devanagri, errors of omission and capital letters than the normal types.


I initiated coverage of the Indian Convention States a while back by tipping Chamba Sc. #1-15. As I believe that this is one of the most undervalued areas in Indian Philately, I now continue to focus on it, by recommending the 1885-97 Overprinted Issue of Nabha (Scott #11-25). The top three values of the set (2r to 5r, Sc. # 22-24) had printings of only 572 each, and Scott '10 values the set unused at $ 352.35. While fake overprints may possibly exist on the high values, this does not represent much of a risk, because the difference in value between the stamps overprinted for Nabha and the basic stamps of British India are not enough to justify faking them.

Until the last decade or so, most of the demand for stamps of India's Convention and Feudatory States has come from British Commonwealth collectors and specialists outside of India. With India's economic rise, its stamp market has been heating up considerably. I am confident that in the coming years, the center of demand for these collecting areas will shift to India, as the number of stamp collectors there will number in the millions, if not tens of millions.

Stamp Investment Tip: Spain 1940 Virgin of the Pillar Issue (Scott #B109-22,CB8-17,EB2)

In January of 1940, having just won the Spanish Civil War, the Royalist government of General Franco engaged in a bit of sanctimonious whitewashing and justification of its responsibility for that 3 year bloodbath, issuing a compound set commemorating the 19th Centenary of the Virgin of the Pillar, the patron virgin of Spain and the Hispanic peoples (Scott #B109-22,CB8-17, EB2). The surtax was used to restore the Cathedral at Zaragoza, which had been damaged during the Civil War, in order to help promote a spirit of national healing under a brutal, pietistic, pro-Fascist dictatorship. 85,000 sets were issued, and Scott '10 prices the unused set at $ 399.85 ($ 775.00 for NH).

On the bright side, the set is a beautiful Religion topical issue, and has potential appeal to Catholic collectors in all of Spain's former colonies. Furthermore, the current financial mess in Europe has lowered the value of the Euro and softened demand for better issues of many European countries, including Spain. For those who invest for the long haul, now is a good time to buy.

I strongly favor all scarce and undervalued issues of Spain and its colonies. The nation has 46 million people, the 9th largest economy in the world, and the most rapidly aging population in Europe. Philately will flourish under such conditions over the long-term, despite any temporary economic crises.

Stamp Investment Tip: U.S. 1909 Hudson-Fulton Imperforate (Scott #373)

In 1909, the U.S. issued two stamps celebrating the tercentenary of the discovery of the Hudson River, and the centenary of the Clermont, the first commercial steamboat, built by Robert Fulton (Scott #372-73). The perforated stamp (#372) is by far the more common, as about 72.6 million were issued, and I am not recommending it for investment. However, I am recommending the imperforate version (Scott #373), as only 216,480 were issued, and Scott '10 prices it unused at $ 20.00 ($ 42.50 for NH).

The stamp is not only a beautifully engraved Ship Topical, but it is of local interest in New York and New Jersey. In my opinion, the best formats in which to purchase the issue are as a plate number block of 6 (CV = $ 240.00; $ 375.00 as NH) or as a center line block of 4 (CV = $ 210.00; $ 360.00 as NH). The stamps were produced in sheets of 60 (with one plate block and one center line block per sheet), yielding only 3,608 of each of these positional blocks. A much higher proportion of the imperforate Hudson-Fultons were retained by collectors than were the perforated stamps, so I am guessing that between 700 and 1,500 of each remain.

Gum bends are very common on #373. Endeavor to purchase examples which are free of them, especially if purchasing blocks.

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.

Phila-Trivia: Postage Before 1840

While it is common knowledge that in 1840, Rowland Hill created the first postage stamp, Great Britain's "Penny Black," and that William Mulready created the first postal stationery, most stamp collectors are unaware that earlier attempts were made which resulted in some notable forerunners.

The earliest item similar to a postage stamp was created and used by a Frenchman, M. De Velayer, in 1653, during the reign of Louis XIV. He set up mail boxes and delivered any letters placed in them if they used envelopes that only he sold. Letters were wrapped with a slip of paper bearing the inscription (in translation) "post-paid______day of_________1653." An enemy of De Velayer's put live mice into the letter boxes and ruined his business. Unfortunately, none of De Velayer's "postage strips" are known to remain.

De Velayer's mail box
In 1818, Sardinia issued stationery which may have been used postally, and which bore imprinted images of a nude horseback rider blowing a trumpet. There were three values - 15, 25, and 50 centesimi - and the letter paper was sold at post-offices and by tobacco vendors. Use of the stationery was discontinued in 1836, due to a change in postal regulations. There is some debate regarding whether the amounts charged for the stationery actually paid for postage, as some argue that the Sardinia sheets were sold to raise taxes.

Sardinian stationery of 1818
In the early 1800s, some Swedish letter writers attached feathers to their covers with red wax seals, in order to imply that the letter should "fly to its destination." Obviously, these feathers bore only a slight resemblance to stamps in form and function, but they are interesting, nonetheless. A few Swedish "feather covers" still exist, and occasionally are sold at stamp auctions.

A Swedish "Feather Letter"

                                                        A 40 lepta Black stamp was issued in Greece in 1831. Covers exist bearing the stamp; however, there is some dispute over whether it was an actual postage stamp, or a charity label issued to raise funds for Greek refugees from Crete. A March 13, 1831, government decree requested that every citizen contribute 40 lepta or more for the welfare of recently arrived emigres from Turkish-controlled Crete to the liberated mainland, and ordered that billets be issued to donors. It is possible that these "stamps served to reward or document donations.

1831 Greek Postage Stamp or Charity Label (block of 4)

It is clear that Rowland Hill built on early innovations of the previous two centuries. These had failed mostly because initially, postal services served only a wealthy, literate elite. The issuance of postage stamps and the organization of a large and complex postal system coincided with the beginning of the Industrial Revolution, which rendered the establishment of an efficient and inexpensive mail service for the general public both necessary and progressive.

Stamp Investment Tip: Iran 1957 Baden-Powell Centenary (Scott #1073)

In 1957, Iran issued a stamp honoring the Centenary of the Birth of Robert Baden-Powell, the founder of the Boy Scouts (Scott #1073). 85,000 stamps were issued, and Scott '10 prices it unused at $ 8.50. I continue to favor Boy Scout Topicals, especially those issued by countries for which I feel bullish about the stamp market. Worldwide membership of the Boy Scouts is estimated at 25 million, and Scouting topicals are extremely popular internationally. The Boy Scouts of America even promote the hobby with a stamp collecting merit badge.



Note that a common defect found on many Iranian stamps of the '50s is badly toned, "gloppy" gum. When purchasing #1073, endeavor to select examples with clean gum.



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

Stamp Investment Tip: British Columbia and Vancouver Island

British Columbia and Vancouver Island, a British colony which joined the Canadian Confederation in 1871, issued eighteen stamps between 1860 and 1869. All are scarce and worthy of consideration as investments, as the market for Canada and B.N.A. looks very bullish long-term. The Canadian provinces are particularly interesting, as they appeal to both collectors of Canada and British Commonwealth.

Quantities issued are known for some of the issues, including the 1869 Surcharged Colony Seal stamps (Scott #14-18), of which only 4,800 of each were issued. Scott '10 Catalog Values for these, unused or used, range from $ 725.- to $ 1,750.-, and covers are especially rare. The designs for these stamps were narrowly spaced when they were printed, so centering tends to by abysmal. Expect to pay a premium for stamps with the perfs clear on all four sides. Considering the low printing for this 140 year old issue, and the fact that most of these stamps are poorly centered, it is likely that no more than a few hundred of each exist in sound, Fine or better condition.

With a population of about 31 million, Canada is one of the world's wealthiest countries, and 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, thereby bolstering its population of serious collectors. 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 learning more about investing in stamps are encouraged to read the "Guide to Philatelic Investing" ($5), available on Kindle, and easily accessed from any computer.

Stamp Investment Tip: Venezuela 1899-1901 Bolivar Issue (Scott #142-49)

From 1899-1901, Venezuela issued an attractive set of definitives honoring Simon Bolivar (Scott #142-49). Fewer than 1,000 of the 2b Orange high value (Sc. #149) were issued, and Scott '10 prices the unused set at $ 375.00. I strongly recommend either the complete set or the high value for investment. It is yet another example of a grossly undervalued issue of Latin America, which should do very well as the region continues its economic development.

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.

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: Annam and Tonkin

Before the French began issuing stamps for its colony of Indochina in 1889, it initially utilized French Colonies stamps, and later surcharged these stamps for use in Annam and Tonkin (now Northern and Central Vietnam) and Cochin China (Southern Vietnam). I favor all stamps of both Annam and Tonkin and Cochin China, as well as the better issues of Indochina, as they have appeal to collectors of both Vietnam and French Colonies.

Focusing on Annam and Tonkin, since the A & T stamps are handstamped surcharges (and therefore subject to fakery, as are all overprinted stamps), I recommend those which are costly enough to purchase conditional on expertization. These include some of the better surcharge varieties, the "Hyphen between 'A' and 'T' " Surcharges (Scott #7-9, which range in Scott '11 Cat. Value from $ 210.- to $ 550.-), and the rare unissued 5c on 2c Brown on buff (Scott #9Note- Scott '11 CV = $ 7,500.-). Printing quantity information is unavailable for these stamps, but it is likely that fewer than 2,000 of each of Sc. #7-9 were issued, and that fewer than 100 the unissued 5c on 2c were prepared.

Vietnam is a nation of 86 million people which is in transition from a command economy to a market-driven one. It is still a relatively poor country, with an annual GDP of $ 280 billion. Deep poverty, defined as a proportion of the population living under $1 per day, has declined significantly and is now proportionally smaller than that of China, India, and the Philippines. Annual GDP growth has been impressive, averaging about 7.5% over the past five years, and it is likely that Vietnam will have one of the fastest growing economies over the next several decades. Manufacturing, information technology, and high-tech industries are rapidly growing sectors. Though a relative newcomer to the oil business, Vietnam is now third-largest oil producer in Southeast Asia, with an output of 400,000 barrels per day.


Interest in the better stamps of Indochina and Vietnam has been upstaged by the recent feeding frenzy of the Chinese stamp market. This relative neglect represents a buying opportunity.

Stamp Investment Tip: Bangkok 1877-85 Issues

Between 1882 and 1885, Great Britain issued stamps for use by British personnel in Bangkok, initially by by overprinting "BRITISH CONSULATE BANGKOK" on stamps of Straits Settlements, and later by overprinting Straits Settlements stamps with a "B." Most of the the 29 Bangkok stamps are scarce to extremely rare (with #12 and #14 being the exception) and quantities issued for each ranging from under 100 to about 8,000. Being overprints, all Bangkok stamps should be purchased conditional on obtaining expertization.



I favor all stamps of Bangkok that are expensive enough to warrant expertization, including the overprint varieties. These rather dull looking stamps are sought by collectors of both British Commonwealth and Thailand, two growing markets. The stamp market in Thailand is particularly hot right now, and I feel it will remain strong for decades.



A nation of 63.5 million, Thailand is considered one of the newly industrialized "Asian Tiger" nations, exporting over $105 billion worth of goods and services annually. It is still mainly an agricultural nation, and is the world's #1 exporter of rice, although the relative importance of agriculture is declining as other industries develop. Over the last five years, annual GDP growth has averaged about 3%, reflecting a recent slowing due to the global financial crisis.

Stamp Investment Tip: Saudi Arabia 1934 Proclamation Issue (Scott #138-49)

In 1932, the Kingdom of the Hejaz and Nejd was renamed the Kingdom of Saudi Arabia, and in 1934, it issued its first stamps under that name, a set proclaiming Emir Saud as Heir Apparent (Scott #138-49). 4,000 sets were issued in both perforated and imperforate form, and Scott '10 prices either at $ 2,266.00 for unused.


Although betting on the economic development of Saudi Arabia is not without risk, I feel that the potential returns from investing in its better stamps vastly outweigh the threat of an overthrow of its monarchy and a radicalization of the country. It seems probable that the government will continue its policies of gradual reform and co-opting or corrupting its potential adversaries with oil money.


An extremely affluent nation with an estimated population of 28 million, Saudi Arabia officially has 260 billion barrels of oil reserves - about 24% of the world's total proven reserves. Though currently almost wholely dependent upon the petroleum industry, the Kingdom is attempting to diversify by building "economic cities," which will focus on pharmaceuticals, tourism, finance, education and scientific research. Annual GDP growth over the last 5 years has averaged about 5%, and it is likely that, barring the potential for disruption due to political instability, Saudi Arabia will continue to sustain high growth over the next decades. The threat of instability is real, as the Saudi government is rated the world's seventh most authoritarian regime, according to The Economist's Democracy Index. As a monarchy sworn to govern on the basis of Islamic Law, Saudi Arabia maintains a legal system which may seem feudal to many people, prescribing capital punishment and various forms corporal punishment, including amputation, for actions which are not even considered crimes in most countries. Intra-family rivalries and the heady mix of religion, politics, greed, and regional militarism make for a potentially explosive combination, but this is nothing new, and the House of Saud has proven its resilience time and time again by surviving and maintaining its primacy over the last hundred years.

Stamp Investment Tip: Poland-Exile Government Monte Cassino Issue (Scott #3K17-20)

During World War II, the Polish Government in Exile, based in London, issued stamps for letters posted from Polish merchant ships and warships. In June of 1944, it issued a set of four stamps honoring the final capture of Monte Cassino by Polish forces (Scott #3K17-20). The Battle of Monte Cassino was actually a series of four costly battles fought by Allied forces (from many different nations) so that they might seize Rome. The pivotal role played by the Poles in the final fourth battle against the Nazis gave hope to those fighting for Polish Independence. Only 55,000 sets were issued, and Scott '10 values it at $ 30.00 for unused ($70.- for NH), and $ 80.00 for used. Philatelic covers bearing the whole set exist, and these are quite desirable.

The set has dual appeal to collectors of Poland and World War II topicals. I have little information regarding demand for the set in Italy, but there is a potential for that to become significant, as well.

With 38 million people, Poland is one of the fastest growing economies of all of the formerly Communist countries, with annual GDP growth averaging about 5.5% over the past 5 years. The nation has steadfastly pursued a policy of liberalizing the economy, and was not severely impacted by the recent global financial crisis. It is likely that Poland will be one of the world's fastest growing economies over the next several decades.

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