Evening star., 1937-01-17

time there are undoubtedly millions
of some issues lying in vaults in the
hope that a sudden rise will enable
the possessors to make cleanup.
In this country most of this specu-
lative activity had concerned itself
with United States stamps, but when
the Silver Jubilees of Great Britain
came out they created an entirely new
situation. This has now been followed
by speculation in the recent Jipex
sheets, the New Zealand Chamber Of
Commerce set, and various other issues
of which a comparatively small guam
tity vas issued.
"Speculating in this way is not
stamp collectinso and sooner or later
the bubble is bound to burst and the
holders suffer substantial losses. This
Is as it should be, and the sooner it
comes the better it will be for stamp
collecting.
I'VE have been rather amused at
the attitude of some of these specu-t
lators. They watch the advertise.
ments and then endeavor to buy up
the entire stocks of dealers all over
the country. If these dealers cannot
or will not supply the stamps offered
in lots of 10 to 100 or more, the
spectators set up a terrible howl
about the unfairness of the stamp
dealer. We have absolutely no SYM
pathy with this ilk who are trying
to take advantage Of a situation and
make an unearned profit at the ex-
pense Of the hobby.
Some of the prices being asked
for recent issues are ridiculous. The
quantities that are in existence GER
tainly do not justify the rapid in
creases, and those who make . prac-
tice Of speculating in stamps are due
for rude awakening. We viii then
hear them cry that stamp collecting
is racket. The only racket is the
one that they have tried to create.
Don't speculate in stamps. Try
the stock market or horse racing, If
you must gamble"
Stephen G. Rich writes in Hobbies
Magazine for January: 1T is foolish
to talk of stamps as an investment.
Investment implies the intention and
purpose Of getting an income.
Certainly, nobody can take dividends
or rent or interest from a stamp, COL
lection while he is holding it-at least
in cash form. Whether a safe spec
ulation or a risky one, a good spec
ulation or bad one, every cent that
you put into stamps with a view to
profit is speculation and not invest
ment.
Nobody is foolish enough to deny
the possibilities of profit in stamp
collecting. The only question is
whether it is at all legitimate to
speak Of any holding Of stamps as
an investment My belief is that the
word is entirely incorrect and ought
to be dropped.
There is no question but that If
you choose your fields of stamp COL
lecting with good judgment and use
plenty Of horse sense in buying your
material, you can make nice profits
very often. You may even be able
to cover all losses by your profits
and have your fun without cost. 1
Here and there some one will be
clever enough even to show a total
profit on all his collecting. This,
however, does not make an invest
ment out Of stamps, but simply q
good business risk. In fact, in most
cases it should be called no more
than an exceedingly attractive SAL
wage value after you have had your
fun.
1.-The boys who got on the mint
twentieth century bandwagon 10
years ago have done well on certain
stamps, but there are many on which
profits are less than the interest
If they had put the money In q
savings bank. The man who gets
on this bandwagon now Is 10 years
too late. Those who got on to good
nineteenth century stamps Of Europe
in 1884 and 1885 are already able to
cash in at q very comfortable profit
in some cases. Since the jubilee
issues, all the British colonies ap-
pear to show an upward trend. Even
dull countries not much in public
favor. such as zululand and Uganda,
are showing this effect.
If you want q safe and profitable
speculation in stamps, by all means
have it-but don't misname it an
investment"
Philatelists on both sides Of the