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Sunday, November 23, 2014

Stamp Investment Tip: Great Britain- Offices in Eritrea 1948 Postage Dues (Scott #J1-5)

Great Britain issued stamps for use by its military and other personnel stationed overseas, and many of these stamps are quite scarce.

In 1948, the British issued a set of five postage due stamps for use by its forces in Eritrea, by surcharging its regular postage due stamps (Scott #J1-5). 22,264 sets were issued, and Scott '14 prices the unused set at $65.00 .

The set has potential dual market appeal among collectors of Great Britain/Commonwealth and Eritrea. As a boring postage due issue, it remains overlooked, for now.

Eritrea is a newly independent nation with a population of about 5.2 million. Like many other African nations, its economy is largely based on subsistence agriculture, with 80% of the population involved in farming and herding. Drought has often created trouble in the farming areas. The country is still recovering from the effects of a war with Ethiopia, which ended in 2000. It has substantial mineral deposits and oil reserves which are largely unexplored. Annual GDP growth has averaged 2.6% over the last five years.

Those interested in joining a community of Stamp Auction bidders and consignors may wish to join the Stamp Auction Bidders' and Consignors' Union (SABACU) group at Facebook. The organization provides a venue for discussion of stamp auctions, and endeavors to represent the interests of bidders and consignors.

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