Stamp Investment Tip: Honduras UN Issue (Scott C222-30)

In 1953, Honduras issued an airmail set honoring the United Nations (Scott #C222-30). Only 10,000 were issued, and Scott values the unused set at $36.60.

The main reason that this set remains cheap is that Honduras is still a very poor country, and few of its citizens can afford to collect stamps. As far as philatelic investing goes, it qualifies as a "ground floor opportunity" (as described in one of my "general commentary" articles last year), for which the best strategy is to minimize risk by buying stamps of the country which have worldwide appeal, such as rarities and popular topicals, and then hope for additional increases in value as the country's situation improves. To some extent, Honduran stamp values are sustained by the tendency among stamp collectors to collect Latin America as a region, rather than focusing on individual countries.

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.

Honduras is a nation of about 7 1/2 million people, which has recently undergone a coup d' etat and constitutional crisis and may revert to being a dictatorship. The economy, which is largely dependent on agriculture and mining, has continued to grow, but the distribution of wealth remains very polarized, with average wages remaining low. 50% of the population still remains below the poverty line. Should the dictatorship succeed in solidifying its position by relying on the tried and true methods of harassing, imprisoning, torturing, and murdering labor organizers, journalists, and political activists, then Honduras will go back to being an asset of parasitic multinational corporations, which will extract its minerals, deforest it for lumber, and endeavor to ensure that most Hondurans remain impoverished, servile farm laborers, willing to spend their lives toiling in the fields for about a dollar a day.


Annual GDP growth has averaged 3.5% over the last five years, reflecting a 3% contraction in 2010 due to the reverberations of the global financial crisis. Obviously, the key question is whether GDP growth will translate into prosperity for most Hondurans over the next decades,
and that will depend upon whether the country regresses, reforms, or revolts.

I have begun a new blog, "The Stamp Specialist", which will feature wholesale buy prices for stamps which I am interested in purchasing. I've just posted a buy list for Honduras, and it 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.

Those interested in joining a community of stamp investors, dealers, and collectors are welcome to join the "Stampselectors" group at Facebook. The group provides a useful venue for those who wish to buy, sell, and trade stamps, and discuss philatelic investing and practical aspects of stamp collecting.

Stamp Investment Tip: U.N.T.E.A. 1962-63 Issue (Scott #1-19)

"UNTEA" is not a popular beverage, but an acronym for a UN organization which administered territory and issued stamps.

Following the recognition of Indonesia's independence by the Netherlands, Western New Guinea became the focus of a political dispute between the two countries. Indonesia claimed the territory as its own while the Dutch side maintained that its residents were not Indonesian and that the Netherlands would continue to administer the territory until it was capable of self determination. Indonesia landed paratroops onto the territory of Western New Guinea in 1961, which prompted a political crisis between the Netherlands and Indonesia. The United Nations stepped in and mediated, resulting in an agreement whereby the UN temporarily administered the territory. In May of 1963, Western New Guinea became a province of Indonesia, later known as Irian Jaya.

During the period of administration by the U.N.T.E.A. (United Nations Temporary Executive Authority), a set of 19 stamps was issued by overprinting "UNTEA" on Netherlands New Guinea stamps of 1950-60 (Scott #1-19). The basic set had a modest printing and has appeal in three growing philatelic markets (Indonesia, the Netherlands, and UN), but what makes the story even more interesting for stampselectors is that the UNTEA set had four printings, with four easily distinguishable overprint types. I've listed these, along with the quantities issued and Scott '10 Catalog Values, below:

-1962 First Printing (Scott #1-19; overprint 17mm x 3mm long; 45,000; $ 60.00 )

-1963 Second Printing (Scott #1a-19a; overprint 17.5mm x 3mm long; 108,000; $ 35.75)

-1963 Third Printing (Scott #1b-9b; overprint 14mm x 2.5mm long; 3,500; $ 178.50 )

-1963 Fourth Printing (Scott #1c, 5c; overprint 19mm x 3.5mm long; 1,500; $ 175.00 )

The third and fourth printings may seem undervalued, but there are a couple of factors which render them speculative. First, fake overprints exist (and may even exist for the first printing as well), and based upon the current values of these stamps, it generally would not be practical to spend money on getting them expertized. Secondly, the third and fourth printings may not have been "regularly issued"; in other words, they may have been produced solely for stamp collectors. Scott lists them, but questions their status.

My feeling is that while the "status question" may put a drag on the two better printings in the short run, it will diminish in importance over time. The risk of buying a faked stamp is of far greater concern, so I'd recommend steering clear of the Third Printing for now, and purchasing the Fourth Printing stamps conditional on obtaining expertization for #5c (Sc.'10 CV = $130.00), even if it seems somewhat expensive relative to the cost of the stamp. Buying #1c and 5c in blocks and getting 5c expertized would be more economical, but blocks might be hard to find.

The three relevant sources of demand for this issue are collectors of the Netherlands, Indonesia, and United Nations. With about 16.6 million people, the Netherlands is the 16th largest economy in the world, and its annual GDP growth has averaged about 2.5% over the last 5 years. Indonesia is a developing, though still poor, country of 230 million people, with an annual GDP growth rate hovering around 5%-6%. Like most emerging market nations, it faces serious challenges which will have to be addressed, including corruption and major inequities in the distribution of income. The market for UN stamps (as well as those issued by its forerunners) 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 UN, I view its reform and gradual strengthening as a gradual but irresistible trend.

Furthermore, global aging trends in both the Netherlands and Indonesia should bolster the population of serious stamp collectors in both countries in the coming decades. The Netherlands' population of citizens age 60+ is projected to rise from 18.3% in 2000 to 32.8% in 2050, while Indonesia's 60+ age group is expected to almost triple, from 7.6% to 22.3%.

Stamp Investment Tip: Panama 1958 United Nations Souvenir Sheet (Scott #C202a)

In 1958, Panama issued a set of stamps (Scott #C199-202) and a souvenir sheet (Scott #C202a), commemorating the 10th Anniversary of the United Nations, which had occurred in 1955. Better late than never, I suppose. Both the set and the souvenir sheet are cheap (Scott Value for the Unused set is $ 4.05 ; for the Unused souvenir sheet: $ 5.25 ) and both had very low printings. Only 10,000 of the sets and 3,000 of the souvenir sheets were issued.


UN-related issues are popular among topical collectors, and I am convinced that they will become more popular in the future as the need for better, more powerful institutions of global government to deal with the world's massive problems is recognized. I believe that both the set and the souvenir sheet are excellent candidates for accumulation. It is impossible to know which presents a better prospect; for although the set had a higher printing quantity, it's likely that a far higher proportion of sets than souvenir sheets were used for postage.