Stamp Investment Tips- Australia 1946-47 Military Stamps (Scott #M1-7)

In 1946-47, Australia issued a set of stamps for its military forces occupying Japan (Scott #M1-7), by overprinting seven values of its 1937-46 Issue for use by the British Commonwealth Occupation Force. Only 32,508 sets were issued, and Scott '10 prices the unused set at $ 185.- .

This set is interesting from an investment perspective, because it appeals to collectors of Australia, British Commonwealth, and also possibly Japan. Unfortunately, forged "B.C.O.F." overprints of the two high values exist, presenting an expertization cost problem, which may be coped with in one of four ways.


1 - Buy blocks of 4 or more of either the complete set or the 5sh high value (Sc. #M7), and get the block of M7 expertized.


2- Buy a block of the 1p Brown Violet with blue overprint (Scott #M2a- Scott '10 CV = $100.- , and $ 125.- for NH) and get it expertized. The quantity issued for this variety is unknown,but was probably in the low ten thousands.


3- Buy the 3p Dark Violet Brown with double overprint (Scott M3a- Scott '10 CV = $ 750.-) and get it expertized. The quantity issued for this overprint error is unknown, but was probably in the low thousands.


4- As covers which contain complete used sets exist, purchase one of these if you can find one in nice condition, and get it expertized.


I favor better stamps of Australia, as it is a prosperous nation of 22 million people and a diverse economy, with thriving service, agricultural, and mining sectors. Annual GDP growth has average 3.6% 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. 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.

Stamp Investment Tips: Ryukyus "Heavenly Maiden" Airmails

The Ryukyus Islands were occupied by U.S. forces in 1945, and reverted to Japan in 1972. During the period of occupation, the U.S. issued stamps for use in the Ryukyus, which now are sought by U.S. and Japanese collectors. Three of the airmail sets, picturing a heavenly maiden playing a flute, are scarce, and I've listed their printing quantities and Scott '10 Catalog Values below:


C4-8 1951-54 Heavenly Maiden (75,000; $ 30.00)
C9-13 1957 Heavenly Maiden (48,800; $ 85.00)
C14-18 1959 Heavenly Maiden, Surcharged (80,000; $ 50.00)



Many of these stamps were used as postage by Americans stationed on the islands, for sending letters and packages back to the States. The sets have a strong dual market, appealing to both American and Japanese collectors, and I recommend their accumulation.

Stamp Investment Tip: Japan 1938-39 Definitives Coils (Scott #276-79)

From 1937-45, Japan issued a set of definitives (Scott #257-75). In addition, four of the values were issued as a set of vertical coils (Scott #276-79). The coil set is far scarcer than the basic definitives, with a printing of only 50,000, and a Scott '10 Catalog Value of $ 89.75 as unused.

Like many such coil varieties, this set is overlooked and undervalued. It will not remain so.

Stamp Investment Tips: Japan 1934 Plane Over Lake Ashi Souvenir Sheet (Scott #C8)

On April 20, 1934, Japan celebrated Communications Commemoration Day, and issued a souvenir sheet (Scott #C8) at a philatelic exhibition in Tokyo. The four stamps in the sheet had the same design as the 1929-34 Airmail stamps (C3-7), which pictured a passenger plane of Lake Ashi. 20,000 sheets were issued.


Scott '10 prices the unused sheet at $ 1,400.00 (and $ 2,200.00 for Never Hinged), which seems expensive. It isn't, considering that Japan, with its 128 million people, is the second largest economy in the world, has a healthy stamp market on par with those of Europe, and has one of the most rapidly aging populations in the world. The percentage of Japanese aged 60 and over, which was 23% in the year 2000, is expected to rise 42%, an 82% increase, by 2050.

Stamp Investment Tip: Japanese Occupation of Malaya and States

From time to time, I'll recommend whole categories or related groups of issues for which the same criteria apply. Such is the case for the issues of Japanese-Occupied Malaya and States, including Japanese-Occupied Straits Settlements. These are listed as "N" numbers following the regular issues of these countries.
In December of 1941, the Japanese invaded Malaya, then a British colony, which included its client states: Johore, Kedah, Kelantan, Malacca, Negri Sembilan, Pahang, Penang, Perak, Perlis, Selangor, Sungei Ujong, and Trengganu. As the Japanese occupiers did not wish to use the postage stamps of their enemies but had no stamps of their own on hand, they simply handstamped or overprinted stocks of stamps that the British had left behind.

Many of these stamps are scarce to extremely rare, with quantities ranging from under 10 for the rarest to the low thousands for the majority. Michel's Asia Catalogue lists the stamps and printing quantities (when known) following the regular issues of Japan.

These issues I consider among the "bluest of blue chips" in the world of philatelic investing. They are undervalued largely because since they are overprints, fakes exist, and therefore it makes sense to purchase only the better items which are worth getting expertized. Many of the better authentic Japanese Occupation issues were signed by the expert Milo Rowell, although forgeries of his signature exist. Expertization is absolutely necessary for all overprinted Japanese Occupation stamps, and the most recognized certificates for these stamps are issued by the British Philatelic Association and the Royal Philatelic Society of London.

Stamps of Japanese-occupied Malaya fall under 3 collecting areas: British Commonwealth, Japan, and Malaya/Malaysia. It is likely that rapid economic growth in Malaysia, a country of 28 million people, will spur future interest in these issues. As these stamps were stored in a tropical climate, many of them have brownish, toned, "tropicalized" gum. When purchasing unused examples, try to select those which are not toned, or heavily discount for those that are.