Thursday, June 30, 2011

China Home to One-Third of The World's Stamp Collectors

According to an article by Kam Patel on Britain's Proactive Investors website, China is home to one-third of the world's stamp collectors and "continuing to grow fast." 

Patel quotes Stanley Gibbons chief executive Michael Hall as saying, "...with stamp collecting having been illegal under former Chinese leader Mao Zedong, since his death in 1976 there has been an explosion in collecting. A lot of Chinese stamps went overseas during the period when collecting was illegal but there is great interest there in repatriation.”

Responding to concerns that the Chinese stamp market "bubble" may burst, Hall said, “I think the term 'bubble' is widely misused by financial commentators when referring to anything that represents a high growth market. There is validity in the concept though, that things can't go up at such high rates forever... My view is that, sure, the Chinese stamp market will become a bubble eventually but at the moment it is just a fast growing market supported by huge and rising demand against severe supply restrictions.”

Shown above, a 1950 Chinese stamp showing Joseph Stalin, premier of the Soviet Union from 1941 to 1953) and Mao Zedong held authoritarian control over the People's Republic of China (PRC) from its establishment in 1949 until his death in 1976.

To read the entire article, click here.
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posted by Don Schilling at 12:01 AM