Stamp Investment Tip: South Korea 1957 Boy Scout Souvenir Sheet (Mi. Block #109)

In 1957, South Korea issued a set of stamps (Scott #245-46) and imperforate souvenir sheet (Michel Block #109) celebrating the 50th Anniversary of the Boy Scouts. While the set is relatively common (200,000 issued), only 1,000 of the souvenir sheets were issued, and Michel '06 values it at 4,200.- Euros for unused (Scott does not list the sheet). Michel does not issue a catalog for Asia every year, and its 2006 edition is its most recent. While the catalog value may seem high, it is sometimes possible to purchase the better, Michel-listed souvenir sheets of South Korea in VF NH condition for 30%-50% of catalog at auction.


I'm attracted to this scarce souvenir sheet both because it is an undervalued item from South Korea and because it is a Scouting Topical. I've tipped a number of better Scouting Topicals in the past, because the market for Scouting-related collectibles (including stamps) is similar to that of a mid-sized country. In 2007, Boy and Girl Scouts and Guides numbered 38 million members (of which 25 million were Boy Scouts) in 216 countries worldwide. Furthermore, the Boy Scouts actively promote the hobby among their members with a Stamp Collecting merit badge (pictured).

South Korea, a nation of about 50 million people, is one of the fastest growing economies in the world. Currently, it is the world's 13th largest economy and eighth largest exporter. It's export-fueled economic growth has led to a miraculous explosion in its GDP, from almost nothing 50 years ago to about $1 trillion today. Annual GDP growth has averaged 4.2% over the last 5 years, reflecting a slowdown in 2009 due to the global financial crisis. Furthermore, South Korea may be the most rapidly aging nation on earth, as its 65+ population is expected to more than quadruple from 9% in 2005 to 38% in 2050. Obviously, this could pose economic challenges for the country, but it will almost certainly add to its stamp collecting population.

Stamp Investment Tip: Cape of Good Hope 1900 Siege of Mafeking Issue

During the Boer War of 1899-1902, the town of Mafeking was besieged by the Boers over a period of 217 days, and successfully defended by British forces commanded by Lieutenant General Robert Baden-Powell. Greatly outnumbered by enemy forces, Baden-Powell bolstered his troops by forming the Mafeking Cadet Corps, a group of boys aged 12 to 15, to act as messengers and orderlies. The Cadet Corps was later to be one of the inspirations for the Scouting movement, which Baden-Powell founded in 1907.

Mail delivery was among the tasks performed by the Cadet Corps, and since inventories of postage stamps had been depleted during the Siege, stamps of the Cape of Good Hope and the Bechuanaland Protectorate were surcharged, and new stamps picturing 12 year-old Sergeant Major Goodyear (later considered the "First Boy Scout") and Baden-Powell were locally produced.

All of the stamps of the Siege of Mafeking Issues (Scott #162-180) are scarce to rare, and both fake overprints and forgeries exist, so expertization should be a condition for purchase. I've listed the stamps, along with quantities issued and Scott '10 Catalog Values, below:

Stamps of Cape of Good Hope surcharged:

#162 1p on 1/2p Green (7,680; $ 240.00 unused, $ 77.50 used)

163 1p on 1/2p Green (5,280; $ 300.00 unused, $ 90.00 used)

164 3p on 1p Rose (6,000; $ 275.00unused, $ 60.00 used)

165 6p on 3p Red Violet (840; $ 42,500.00 unused, $ 300.00 used)

166 1sh on 4p Pale Olive Green (1,440; $ 8,000.00 unused, $ 425.00 used)

Stamps of Bechuanaland Protectorate Surcharged:

#167 1p on 1/2p Vermilion (6,000; $ 240.00unused, $ 77.50 used)

168 and 173 3p on 1p Lilac ( 1,800 total; 168: $ 1,000.00 unused, $ 105.00 used; 173: 1,050.00 unused, $ 90.00 used)

169 and 174 6p on 2p Green and Carmine (1,200 total ; 169: $ 2,250.00 unused, $ 90.00 used; 174: $ 1,300.00 unused, $ 90.00 used )

170 6p on 3p Violet on yellow (1,440; $ 2,250.00 unused, $ 90.00 used)

171 6p on 3p Violet (3,600; $ 450.00 unused, $ 80.00 used)

172 1sh on 4p Brown and Green (2,320; $ 1,650.00 unused, $ 95.00 used)

175 1sh on 6p Violet on rose (1,440; $ 7,250.00 unused, $ 105.00 used)

176 1sh on 6p Violet on rose (240; $ 55,000.00 unused, $ 900.00 used)

177 2sh on 1sh Green (570; $ 14,500.00 unused, $ 500.00 used)

Locally Printed Issue:

178 1p Blue on blue (9,476; $ 1,000.00 unused, $ 425.00 used)

179 3p Blue on blue, 18 1/2mm wide (6,072; $ 1,400.00 unused, $425.00 used)

180 3p Blue on blue, 21 mm wide (3,036; $ 10,750.00 unused, $1,500.00 used)

In 2007, Boy and Girl Scouts and Guides numbered 38 million members in 216 countries worldwide. Scouting Topical stamps are extremely popular internationally, and the stamps of the Siege of Mafeking were the first such produced, and will remain key items within any Scouting collection.