The Beijing- and New York- based philatelic agency, IGPC, continues to flood the new issue market with seemingly increasing numbers of its products which generally appear to have higher and higher face values. The most recently announced products are illustrated below but I start off with a set of 6 stamps stated to have been issued on 3 August 2018 with name of Grenada printed on them which have a total face value of EC$215 which is currently equal to £61.38p. The exchange rate value of the $80 is £22.84p, the $60 is £17.13p and the $40 is £11.42p so given that the editor of the Stanley Gibbons Stamp Catalogue has indicated previously that he thought it likely that stamps with a face value of more than £10 would not receive full catalogue listing, we may expect that the 3 top values of this set will not receive full catalogue status.
🇦🇬 Antigua And Barbuda -
28 August 2018 - Birth of Prince Louis of Cambridge - 1 miniature sheet containing 4 different stamps. Rating:- 0.
28 August 2018 - Wedding of the Duke and Duchess of Sussex - 2 miniature sheets, 1 containing 4 different stamps and 1 containing a single stamp. Rating:- 0.
2018 - Chinese New Year, Year of The Pig - 1 miniature sheet containing 4 different stamps. Rating:- 0.
2018 - Antigua And Barbuda national bird, the Magnificent frigate bird - 1 miniature sheet containing 4 different stamps. Further details and illustration awaited. Rating:- **.
🇬🇲 The Gambia -
2018 - Chinese New Year, Year of The Pig - 1 miniature sheet containing 4 identical stamps. Rating:- 0.
2018 - Wedding of The Duke and Duchess of Sussex - 1 miniature sheet containing 3 different oval-shaped stamps and 1 sheetlet containing 4 identical stamps. Rating:- 0.
2018 - African large mammals - 2 miniature sheets, 1 containing 3 different stamps and the other contains 2 different stamps. Rating:- 0.
2018 - French victory in the FIFA World Cup Final - 1 miniature sheet containing 3 different stamps. Rating:- 0.
2018 - 50th anniversary of the first manned lunar landing by Apollo XI (2019) - 1 miniature sheet containing 3 different stamps. Rating:- 0.
🇬🇩 Grenada -
3 August 2018 - Elvis Presley (US music performer) commemoration - 3 miniature sheets each containing a single stamp. Rating:- 0.
🇬🇩 Grenada Carriacou And Petite Martinique -
27 July 2018 - Wedding of the Duke and Duchess of Sussex - 1 miniature sheet containing 4 different stamps.
27 July 2018 - 5th Birthday of Prince George of Cambridge - 2 miniature sheets, 1 containing 4 different stamps and 1 containing a single stamp. Rating:- 0.
3 August 2018 - Elvis Presley (US music performer) commemoration - 1 miniature sheet containing 3 identical stamps. Rating:- 0.
🇬🇾 Guyana -
13 July 2018 - Visit of US President Trump to Saudi Arabia - 1 miniature sheet containing 4 different stamps. Rating:- 0.
13 July 2018 - The national bird of Guyana, the Hoatzin. 2 miniature sheets, 1 containing 4 different stamps and the second containing a single stamp. Rating:- **.
13 July 2018 - Wedding of The Duke and Duchess of Sussex - 2 miniature sheets, both containing 4 different stamps. Rating:- 0.
13 July 2018 - Elvis Presley (US music performer) commemoration - 1 miniature sheet containing 3 identical stamps. Rating:- 0.
26 July 2018 - Space - 2 miniature sheets each containing 6 different stamps. Rating:- 0.
5 August 2018 - Commemoration of the late Barbara Bush, former US First Lady - 1 miniature sheet containing 3 different stamps. Rating:- 0.
5 August 2018 - Salamanders - 2 miniature sheets, 1 containing 3 different stamps and 1 containing a single stamp. Rating:- 0.
5 August 2018 - Fishing in Guyana - 2 miniature sheets, 1 containing 4 different stamps and 1 containing a single stamp. Rating:- 0.
8 August 2018 - Native mammals of South America - 2 miniature sheets, 1 containing 6 miniature sheets and 1 containing a single stamp. Rating:- 0.
8 August 2018 - Chinese New Year, Year of The Pig - 1 miniature sheet containing 4 different stamps. Rating:- 0.
8 August 2018 - Wild cats of Guyana - 2 miniature sheets each containing 4 different stamps. Rating:- **.
15 August 2018 - Praga 2018 Philatelic Exhibition, Prague - 2 miniature sheets, 1 containing 4 different stamps and 1 containing a single stamp. Rating:- 0.
🇵🇬 Papua New Guinea -
31 July 2018 - 65th anniversary of the Coronation of Elizabeth II, Queen of Papua New Guinea - 2 miniature sheets, 1 containing 4 different stamps and the other containing a single stamp. Rating:- 0.
31 July 2018 - Wedding of The Duke and Duchess Of Sussex - 1 miniature sheet containing a single stamp and a second containing 4 different stamps. Rating:- 0.
31 July 2018 - Birth of Prince Louis Of Cambridge - 1 miniature sheet containing 4 different stamps. Rating:- 0.
🇹🇻 Tuvalu -
8 September 2018 - Wedding of The Duke and Duchess of Sussex - 2 miniature sheets, 1 containing 4 different stamps and 1 containing a single stamp. Rating:- 0.
8 September 2018 - Birth of Prince Louis of Cambridge - 1 miniature sheet containing 4 different stamps. Rating:- 0.
14 July 2018 - Wedding of The Duke and Duchess Of Sussex - 1 sheetlet containing 5 different stamps. Rating:- 0.
14 July 2018 - 65th anniversary of the Coronation of Elizabeth II, Queen of St Vincent And The Grenadines - 1 miniature sheet. Rating:- *.
14 July 2018 - Winter Olympic Games, Pyeongchang in Korea - 3 miniature sheets, each contains 4 different stamps. Rating:- 0.
The Grenada stamps look like definitives and so probably warrant the high values. Also inflation is no doubt high.
ReplyDeleteThank you, Chris. Yes these particular items seem to be offered as definitive-type stamps. The face values are very high and similar to similar items emanating from IGPC which I have mentioned before. It is questionable as to why IGPC territories require such high values when most of the rest of The Commonwealth does not. Inflation is NOT the explanation since inflation in Grenada during 2017 was just 2%. The only inflation going on here, I suspect, is that of the face values of philatelic products produced and sold by IGPC in an attempt to make money from its products while it still can.
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DeleteIn just a few years time all face values on IGPC stamps have doubled.
DeleteA few years ago they issued sheets with four $3 stamps and sheets with one $5 stamp.
Nowadays it's four $6 stamps and one $10 stamp.
Compare these face values with the postage rates:
Local mail is $0.40 per half oz.
Mail to the UK $1.60 per half oz.
So I wonder where ALL these hige values are for...
Thank you Stewie1911, The way I see it is that Stamperija keeps going by selling very small numbers of its products for a high price which, incredibly, there's always someone prepared to pay to obtain. Sales are low but profits on each item are high and therefore when about 100 different products are released each week the overall profit is enormous.
DeleteIGPC is probably following a similar line. Although total sales are probably greatly down as the new issue market becomes increasingly depressed so face values are doubled and there are many more different products released. If sales are down by 50% this is compensated for by getting double the amount of profit on each item sold and if the total number of products is also doubled then profits actually go up.
Ofcourse this strategy can only work as long as there are people out there who are prepared to spend their money on such items. If such collectors decided to stop buying these products then there would be no profit in selling them at whatever face value they are being sold for.
But people keep buying this stuff and even if there are fewer buyers these 'agencies' keep making profits by raising or even doubling the face values of the items they are selling.