Stamp Investment Tip: Finland 1885 10m Brown and Rose (Scott #37)

In 1885, Finland issued a set of definitives picturing its coat of arms (Scott #31-37). Only 7,500 of the 10m high value (Scott #37) were issued, and Scott '10 values it at $ 625.00 for both unused and used. Many were probably used on parcels and then discarded. This is a truly scarce stamp, and its design is distinguishable from the more common 1890 10m Brown and Rose (Scott #45), in that #37 has the number "10" in all four corners.

I recommend consideration of all better stamps of Scandinavia. There are many collectors in Europe and the U.S. who focus on these countries as a group, and the scarcer classic items represent a solid conservative investment.


Finland, a nation of 5.3 million people, has a highly industrialized free-market economy focused largely on manufacturing. GDP growth has averaged about 3.6% annually over the last 5 years, although it declined recently due to the global financial crisis, and is now recovering. Finland's stamp collecting population is comparable to other Scandinavian countries, and will probably grow significantly as the nation ages over the next decades.

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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: Ethiopia 1947 Franklin D. Roosevelt Issue (Scott #278-80/C21-22)

In 1947, Ethiopia issued a compound set of stamps honoring Emperor Haile Selassie and Franklin D. Roosevelt (Scott #278-80/C21-22). 20,000 sets were issued, and Scott '10 values the set at $ 15.20 for unused). The set has obvious dual market appeal, and represents a very low-risk bet on Ethiopia's future economic development.

Ethiopia is still a poor country, with an estimated population of over 85 million people. However, it has one of the fastest growing economies in the world, with annual GDP growth of 9%-11%. It has the greatest water reserves in Africa, and is one of its most fertile countries. According to the New York Times, it has the potential "to become the breadbasket for much of Europe if its agriculture were better organized."

Ethiopia has a fascinating philatelic history, and most serious collectors who specialize in Ethiopia are Europeans and Americans. I expect that this will change over the long-term, as it has for so many countries which have risen out of poverty. It doesn't take much imagination to envision how prices for scarce, inexpensive issues of Ethiopia will be affected if more of a middle class develops and more Ethiopians begin collecting their own stamps.

Stamp Investment Tip: Saar 1928 Paintings Semi-postals (Scott #B9-15)

The Saar is a region of Germany with a checkered history that was marred by two world wars. Following World War I, it was occupied and governed by Britain and France from 1920 to 1935 under a League of Nations mandate, with the occupation originally being under the auspices of the Treaty of Versailles. It was returned to Germany following a plebiscite held in 1935. After World War II, the region became a French protectorate until 1955, when a referendum ended French rule and shortly thereafter returned it once again to Germany.

During the Mandate and French Protectorate periods, Saar issued its own stamps, the scarcest of which are of interest from an investment perspective because of their appeal to collectors of Germany and Area and France and Area- two powerful philatelic markets.


A number of Saar's semi-postal sets and souvenir sheets are attractive, including the third semi-postal set picturing paintings with religous themes (Scott #B9-15). Only 15,000 of this beautiful Art/Religion topical were issued, and the key 10fr +10fr high value (Scott #B15) is often sold alone. Scott '10 values the set at $ 480.00 for unused, and I recommend purchasing either the set or the high value (Sc. 10 CV= $ 400.00) in either VF NH or VF LH condition.


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Stamp Investment Tip: India-Convention States-Chamba 1886-95 Overprint (Scott #1-15)

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 overprinting, spelling mistakes in English or Devanagri, errors of omission and smaller capital letters.


A number of issues from both the Convention and Feudatory States are quite scarce and desirable. While quantities issued information is generally unobatainable for stamps of the Feudatory States, there is some available for certain Convention States issues, quite a few of which have been overlooked.


One such issue is Chamba's 1886-96 Overprints (Scott #1-15). The 2r-5r high values of the set (Scott #12-14) had printings of only 672 each, and Scott '10 values the set unused at $ 710.75. It is worth focusing on just the top three values, if the complete set is difficult to find in decent condition. 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 Chamba and the basic stamps of British India has not been 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 1938 Submarine Mail Issue (Scott #605A-605F, 605G)

In 1938, during the Spanish Civil War, normal communications between the Balearic Islands and the Spanish mainland were disrupted by Nationalist warships. The Republicans maintained a mail service by submarine and produced a set of six stamps and one souvenir sheet (Scott #605A-605F, 605G). Only 7,526 sets and 7,385 souvenir sheets were issued, and Scott '10

prices the unused set and souvenir sheet at $ 660.- ($ 800.- for NH) and $ 600.- ($775.- for NH), respectively.

This issue has been overlooked in the U.S. because until recently, it was only noted by Scott. I strongly recommend both the set and souvenir sheet, as they are attractive ship topicals with minuscule printings, from a country with a healthy economy and an active and growing stamp collecting population.

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 continue to flourish under such conditions.

Stamp Investment Tip: Romania 1956 Insect Pests (Scott # 1103-06)

In 1956, Romania issued a set of stamps honoring its campaign against insect pests (Scott #1103-06). 40,000 of this interesting Animal/Insect topical set were issued, and Scott '10 prices the unused set at $ 36.25.

This set should do well as both an Animal topical and as a bet on the growth of Romania's economy. I favor many of the scarce sets of the former Eastern bloc countries (and especially popular topicals), as their values have plenty of room for increase as these economies play catch-up and develop within the free-market fold.

A nation of 22 million people with a GDP per capita of $ 12,285.- (about 46% of the EU average), Romania is considered an upper-middle income country. Romania's main exports are clothing and textiles, industrial machinery, electrical and electronic equipment, metallurgic products, raw materials, cars, military equipment, software, pharmaceuticals, fine chemicals, and agricultural products. GDP growth has been high, averaging about 7% over the last five years.

Stamp Investment Tip: Bulgaria 1933 Balkan Games set (Scott #244-50)

In 1931 and 1933 Bulgaria issued two sets honoring the Balkan Games, a regional version of the Olympics. Both are attractive Sports topical sets, although the second set represents a better investment prospect.

Both sets feature identical designs - athletes engaged in various sporting activities- but the second set was printed in different colors than the first. The first set (Scott # 237-433), available to the general public at post offices throughout Bulgaria, had a printing of 30,000. The second (Scott #244-50), available only at the philatelic agency, had a total printing of only 4,500, and has a Scott '10 Catalog Value of $ 665.00.

Since the fall of communism, Bulgaria, with a population of about 7 million, has experienced rapid economic growth, although its GDP per capita is only about $13,000, about 40% of the European Union average. We may expect better stamps of Bulgaria to increase in value as the economy continues to grow.

Stamps of this issue often have rough perfs. When purchasing, try to select a set with relatively clean perfs, at least on the high values.