Stamp Investment Tip: Ecuador 1929 Plane (Scott #C8-15)

In 1929, Ecuador issued its second airmail set, picturing a plane over the River Guayas (Scott #C8-15). Only 2,000 sets were issued, and Scott '10 prices the unused set at $ 169.70 . This is yet another example of an absurdly undervalued Latin American issue, which should do very well as the economies of the region continue to grow.


Many of those who collect Ecuador also collect stamps of South America, Central America, or all of Latin America, so demand tends to be more generalized than usual. This is not to say that there isn't demand originating from collectors focusing on the individual country as well, but rather that the tendency to collect the whole region is an important factor to consider.


Ecuador, a democratic republic of 13.6 million people, is considered a medium-income country, with about 38% of its population living below the poverty line. Ecuador's natural resources include petroleum, fish, shrimp, timber and gold. In addition, it has a prosperous agricultural sector, producing bananas, flowers, coffee, cacao, sugar, tropical fruits, palm oil, palm hearts, rice, roses, and corn. While Ecuador's economy suffered during the 2008-09 financial crisis, weathering a default and repurchase of its debt at a discount, it seems to be recovering. Annual GDP growth over the last 5 years has averaged almost 5%.

General Commentary: The Bull in the China Shop

Recently, a prominent Chinese dealer published an extensive buy list for stamps of the P.R.C., with buy prices which significantly increased the wholesale values of key P.R.C. stamps. The most dramatic increases seem to be for many of the better souvenir sheets and for issues of the Cultural Revolution. The question is: does this represent a pivotal event for the P.R.C. market, and perhaps for the global stamp market as a whole, comparable in its implications for the stamp market to the effect of the failure of Lehman Brothers on the stock market (except, of course, that the new buy prices represent a positive development rather than a negative one)?

It's quite possible that the buy list was simply an attempt to manipulate prices upward, so as to increase the value of a dealer's inventory. But does this even matter? The Chinese stamp market has been hot for a while now, and it would be surprising if price manipulation was not utilized as a catalyst every now and then.

It's also possible that the new buy list is evidence of a bubble.

"The Entire Nation is Red" Design Error (Scott #999A)

To attempt to get a better idea of what is going on in the market for better P.R.C., I've done a little research, comparing buy prices of a few key items over the last 6 years. These quotations are approximate representations of wholesale value, and not by any means comprehensive, in that they do not take into account all P.R.C. buy lists for any given period.

(Prices are for VF NH)


1958 Kuan Han-ching s/s (Scott #357a):


2004: $ 65.00
2006: $ 75.00
2007: $ 85.00
2008: $ 130.00
March, 2010: $ 215.00 ; April, 2010: $ 340.00


1961 Table Tennis s/s (Scott #566a):

2004: $ 180.00
2206: $ 225.00
2007: $ 225.00
2008: $ 275.00
March, 2010: $ 800.00; April,2010: $ 1,180.00


1962 Mei Lan-fang s/s (Scott #628):

2004: $ 1,800.00
2006: $ 2,500.00
2007: $ 3,000.00
March, 2010: $ 10,000.00; April, 2010: $ 11,000.00

1964 Peonies s/s (Scott #782):

2004: $ 400.00
2006: $ 500.00
2007: $ 500.00
March, 2010: $ 2,000.00; April, 2010: $ 3,650.00

1967 Thoughts of Chairman Mao- unfolded strip of 5 (Scott #948a):

2004: $ 325.00
2006: $ 750.00
2007: $ 750.00
March, 2010: $ 2,500.00; April, 2010: $ 3,300.00


1967-68 Poems by Chairman Mao (Scott #967-80):

2004: $ 475.00
2006: $ 800.00
2007: $ 800.00
2008: $ 1,300.00
March, 2010: $ 2,200.00; April, 2010: $ 3,000.00


1968: "The Entire Nation is Red" (Scott #999A):

2004: $ 8,000.00
2006: $ 10,000.00
2007: $ 10,000.00
March, 2010: $ $ 60,000.00; April, 2010: $ 75,000.00


1978 Science Conference s/s (Scott #1383a):

2004: $ 140.00
2006: $ 150.00
2007: $ 160.00
March, 2010: $ 400.00; April, 2010: $ 490.00

1979 Study Science s/s (Scott #1518):

2004: $ 300.00
2006: $ 510.00
March, 2010: $ 1,600.00; April, 2010: $ 1,950.00

1980 Year of the Monkey (Scott #1586):

2004: $ 100.00
2006: $ 215.00
2007: $ 200.00
March, 2010: $ 800.00; April, 2010: $ 975.00

The gains are astounding, to the extent that they defy analysis. In certain respects, the situation certainly looks like a bubble. As the expression goes: "If it walks like a duck and quacks like a duck, then it probably is a duck." The only problem is that in this case, we're dealing with Peking Duck, a bionic "superduck" powered by tens of millions of Chinese collectors.

On the one hand, I can not advise buying many of the dramatically revalued items at their new stratospheric levels. On the other, I've been bullish about the Chinese stamp market for decades, and will not bet against it. In the long run, even the items which are currently being hysterically bid upward may turn out to be good investments. My recommendation is to wait until at least some of the dust has cleared, and the shock has at least partly worn off, and then target better items which have not been as hyped, and which haven't experienced such rapid increases in value. They represent safer bets, and their day will come.

Stamp Investment Tip: Republic of China 1954 Silo Bridge Souvenir Folder (Scott #1095a)

In 1954, the Republic of China, otherwise known as Taiwan, celebrated the first anniversary of the completion of its Silo Highway Bridge with the issuance of a souvenir booklet containing a souvenir sheet (Scott #1095a). Only 10,000 booklets were issued, and Scott '10 values it at $ 1,375.00.


Better stamps and souvenir sheets of the R.O.C. have done well over the last few decades, but the market has been cooler than that for stamps of the People's Republic. I believe that as capitalism and incremental democratization take hold in the P.R.C., relations between the "two Chinas" will gradually improve, as will demand for stamps of the R.O.C.. The process of thawing may have already begun: as of 2008, more than $ 150 billion have been invested in the P.R.C. by Taiwanese companies, and about 10% of the Taiwanese labor force works in the P.R.C., often to run their own businesses.

In the meantime, most of the demand for stamps of Taiwan will originate from collectors in Taiwan itself and among overseas Chinese (of which there are approximately 35 million). Taiwan, a nation of 23 million people, is one of the four "Asian Tigers," and has experienced explosive economic growth and industrialization over the last 5 decades. Annual GDP growth has averaged about 4% over the last 5 years, but this reflects the zero growth of 2009, a result of the global financial mess.

Stamp Investment Tip: Great Britain- Offices in the Turkish Empire 1906 1pi on 2p Green and Carmine (Scott #25)

Perhaps the rarest of all of the stamps issued for Great Britain's Offices Abroad (excluding varieties) is the 1pi Beyrouth Provisional Surcharge of 1906 (Scott #25). Despite the tiny issuance of 480 stamps, Scott '10 prices it at $ 1,500.00 for unused and $ 700.00 for used. Part of the reason for the undervaluation might be that fake surcharges exist, necessitating expertization (optimally by either the British Philatelic Association* or the Royal Philatelic Society of London).

A "crown jewel" of British Offices philately, the stamp makes an excellent stand-in for all British Offices in the Turkish Empire stamps, which appeal to collectors of British Commonwealth and the Mid-East, two growing markets.

Those interested in joining a lively and growing community of "stampselectors" are welcome to join the "StampSelectors" group on Facebook. The group offers the opportunity to meet and communicate with other collectors, investors, and dealers from all over the world, buy and sell stamps, and discuss investment recommendations and the content of this blog.

* I could not find the url of the B.P.A.- Mea culpa.

Stamp Investment Tip: Sweden 1920 Airmails, Wmk. 180 (Scott #C4-5)

In 1920, Sweden surcharged a portion of its 1910-19 Official stamps, issuing its first airmail stamps (Scott #C1-3, C4-5). The normal set (Scott #C1-3) is fairly common (570,000 issued), and comprised three surcharged officials of the 1910-19 issue, which bore Watermark #181 (Wavy Lines). However, a few of the officials of the 1910-12 issue, of the same design as the normal stamps but with a different watermark (Wmk. #180 - Crown) were errantly surcharged, and are extremely scarce. The 20o on 2o Orange and 50o on 4o Violet with Wmk. 180 (Scott #C4 and C5) were issued in quantities of 100 and 500, respectively, and Scott '10 values them unused at $2,250.00 and $ 160.00.

I believe these stamps to be grossly undervalued, both because they are watermark varieties and because fake surcharges exist, necessitating expertization. Nevertheless, the values of these airmails should ascend impressively as interest in stamps of Sweden and Scandinavia in general continues to grow. It is important to note that there is considerable demand for stamps of Scandinavia outside of Scandinavia. In the U.S. alone, there are approximately 11.7 million Scandinavian-Americans, including 4.4 million of Swedish ancestry.


With 9.2 million people, Sweden is an affluent, export-oriented nation, ranked by the World Economic Forum in 2009-10 as the 4th most competitive economy in the world. Annual GDP growth has averaged about 3% over the last 5 years, reflecting a slowdown in 2009 (0% growth that year) due to the global financial catastrophe, from which Sweden, like much of the rest of the world, is slowly recovering. We all wish that life could be like Swedish magazines, but unfortunately, it's not always the case.

Stamp Investment Tip: British Honduras 1882-87 Issue (Scott #13-17)

Between 1882 and 1887, British Honduras issued a set of Victoria definitives (Scott #13-17), of which the 6p and 1sh high values are quite scarce. Only 1,200 of each of #16 and #17 were issued. Scott '10 values the complete set unused at $812.50 unused, and the top values at $ 325.00 and $ 300.00, respectively.


The stamps of British Honduras have a potential dual market among both collectors of British Commonwealth in general and British Honduras/Belize in particular, but I believe that for the foreseeable future, most of the demand for its better stamps will come from the Commonwealth collectors.

Belize is a small, developing country of about 320,000 people, with an economy based largely on agriculture, although tourism, construction, and oil production have recently assumed greater importance. Annual GDP growth has averaged about 3.5% over the last 5 years.


If purchasing one of the two high values, attempt to obtain it in the best condition possible, or try buy a slightly defective example with an F-VF or better appearance at a deep discount. It would not surprise me at all if fewer than 200 of each of these stamps remain, in any condition.

Stamp Investment Tip: New South Wales Diamond Jubilee Semi-postals (Scott #B1-2)

In the late 19th Century, before the advent of antibiotics, those infected with tuberculosis were isolated and treated in sanatoria, also called "consumptives' homes." The infected poor were pressured to enter sanatoria that resembled prisons, while consumptives of the middle and upper classes were placed in more comfortable homes which provided excellent care and constant medical attention. Whatever the purported benefits of the fresh air and labor in the sanatoria, even under the best conditions, 50% of those admitted were dead within five years.



In 1897, the Australian State of New South Wales issued a pair of semi-postals in celebration of Queen Victoria's Diamond Jubilee (Scott #B1-2). These attractive, Art Nouveau-style stamps cost 1sh and 2sh6p and had a postal value of 1p and 2 1/2p, and the difference between the cost and postal value was donated to a fund for a home for consumptives. 40,000 of the 1p(1sh) and 10,000 of the 2 1/2p (2sh6p) stamps were issued, and Scott' 10 values the set at $ 362.50 for unused.


These semi-postals are often either poorly centered or have condition problems, so endeavor to purchase the set in sound, Fine or better condition if you run into it. I will continue to focus on better, undervalued stamps of Australia and it states, as their values have nowhere to go but upward. Both the country's economy and its stamp collecting population are set for a multi-decade rise.



Australia is a prosperous nation of 22 million people and a diverse economy, with thriving service, agricultural, and mining sectors. Annual GDP growth has averaged 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. Many will find playing with their stamps a pleasant diversion while "camped by a billabong, under the shade of a coolibah tree."