Seigniorage is the profit that governments make on securities that they issue, on which they don’t pay interest, and that are retained unused by the public. Cash in mattresses represents a form of seigniorage and, more than anything else, old face value postage stamps held by collectors do as well. The money that collectors have […]
Postal Seigniorage Read More »
The pricing ratios between mint stamps and used stamps for most nineteenth century issues are out of kilter and should change in the years ahead. Take the case of Great Britain stamps. On average, the catalog value in Scott for any stamp between 1860-1900 is about six times higher mint than used. But mint stamps
There are only a few indispensable philatelic books and at the top of every one’s short list is “Fundamentals of Philately” written by the stamp collecting brothers L.N (Leon Norman) Williams and M(Maurice) Williams. The book was first serialized and then was published twice by the American Philatelic Society (1971 & 1990). It is 880
Fundamentals of Philately Read More »
One of the less remembered atrocities of the 20th Century was the Belgian rape of the Congo. King Leopold acquired control of the Congo in 1885 and soon set up a trading system that effectively enslaved the entire population of the country. The export of rubber and ivory was the only thing that mattered to
One hundred and fifty years is only a tiny time frame in the history of mankind and yet it is only within the last 150 years that the ownership of human beings has been outlawed in the United States. And rather than repugnance over the moral outrage of slavery being the cause of its abolition,
Slavery & Philately Read More »
The collecting impulse relates to retentiveness and the desire to hold onto things and order them rather than throw them away. Like a genetic disposition towards height, this shows up both as an individual predilection and as a general trait in homogeneous populations. I’d like to make a bold natural selection interpretation (remember I have
Predisposed to Collecting Read More »
Electronic communication has little variable cost. Once the lines are laid, or the satellite launched, electrons fly for free. Not so postal communications where distance travelled matters. Sending a letter from Philadelphia to one of its suburbs costs far less than mail from Philly to Nome, Alaska. World wide postal services began eliminating distance surcharges in
Few people today understand the technical revolution that the invention of the postage stamp produced. In many ways, stamp invention had as great an effect on 19th Century communication and commerce as computers and electronic communication has had on ours. Ease of contact facilitated business and social interaction. Business was enhanced. Newspapers and book readership
We Can Do More By Being Good Read More »
Howard Ryan was an old collector when I first entered the stamp business forty years ago. He collected line engraved stamps of the nineteenth century which meant the first issues of Great Britain, all of United States and a few issues of a few European and foreign countries. Line engraving was the most secure form