Stamp Investment Tip: Uruguay 1924 Olympics Issue (Scott #282-84)

In 1924, Uruguay issued a set of stamps celebrating the 1924 Paris Olympics (Scott #282-84), and picturing the "Victory of Samothrace," a partially restored Greek statue that is one of the masterpieces of the Louvre. 35,000 sets were issued, and Scott values the unused set at $ 60.00. In addition, 500 sets were issued on yellow ("golden") paper (Scott #282-84Note), to commemorate Uruguay's soccer victories and gold medal won at the Summer Olympics. Many of these special sets were affixed to souvenir folders and given to dignitaries. Scott prices the "yellow paper" set at $ 650.00.

The set is particularly compelling because of its modest printing quantity, its thematic appeal as a combination Olympics/Art Topical, and because of Uruguay's prospects for economic growth. The special "golden" set is also a Soccer Topical. Soccer is now the most popular sport in the world, with billions of fans, many of whom live in emerging market nations.


With a population of about 3 1/2 million people, most of whom are of European or mixed descent, Uruguay has a stamp collecting population which will probably approach European levels in the years to come. Uruguay is one of the most economically developed, politically stable and least corrupt countries in Latin America, and is moving away from its dependence on agricultural exports and toward development of commercial technologies, especially software. Annual GDP growth has averaged a little over 3% over the last 5 years.

I have begun a new blog, "The Stamp Specialist", which will feature wholesale buy prices for stamps which I am interested in purchasing. It includes a buy list for Uruguay, and includes the sets 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: Uruguay 1929-43 Pegasus Issue (Scott #C27-60A)

Between 1929 and 1943, Uruguay issued a magnificent set of thirty-six airmail stamps, the Pegasus Issue (Scott # C27-60A). Each stamp bears the same design but in different colors, and the set has become a favorite among Horse and Animal topical collectors. Only 5,000 sets were issued, and Scott '10 values it unused at $ 417.90. Because of its length and the fact that it was issued over 14 years, the set has become increasingly difficult to find complete and in decent shape (F-VF LH or better). I believe it to be a bargain at full Scott if found F-VF+ NH, or discounted by 40%-50% for LH.


A related issue with the same design, the 1944 Surcharged Pegasus set (Scott # C106-12) is also worth targeting. It had a somewhat higher printing (15,000), but is also far less expensive (Scott '10 Catalog Value = $ 12.00) .

I hesitate to recommend the 1935 Pegasus set (Scott #C63-82), because Scott notes that counterfeits of this set exist. I have not seen examples of these counterfeits, so cannot comment on how convincing they are.

With a population of about 3 1/2 million people, most of whom are of European or mixed descent, Uruguay has a stamp collecting population which will probably approach European levels in the years to come. Uruguay is one of the most economically developed, politically stable and least corrupt countries in Latin America, and is moving away from its dependence on agricultural exports and toward development of commercial technologies, especially software.