Prices generally down for People’s Republic of China stamps

Stamp Market Tips by Henry Gitner and Rick Miller

Longtime readers of this column know that the People’s Republic of China 8-fen Year of the Monkey stamp (Scott 1586/Yang T46) issued Feb. 15, 1980, is the bellwether of the ever-volatile Chinese stamp market. Since our first market review in the March 12, 2007, Stamp Market Tips column, we have used the stamp’s value to assess the overall Chinese market seven times. It is time for another market update.

The Chinese economy is in trouble, particularly that segment based on real estate. China borrowed and spent money on expansive commercial real estate developments far beyond need or demand. With a market glut and more and more new properties left standing empty, the real estate economy flagged, bringing the Chinese stamp market down with it.

The 1980 8-fen Year of the Monkey stamp was once selling for as much as $1,500 to $1,600. Prices are erratic, reflecting the general flux of the market, but this stamp is currently selling in the $600 to $800 price range. Scott catalog value remains at the high-water mark of $1,900 in very fine grade and mint, never-hinged condition.

The overall market for People’s Republic of China stamps is still strong, although prices are generally down. Sale prices are based on a percentage of Scott catalog values. Percentages for better sets can range from 25 percent up to 80 percent of Scott catalog value.

You really must study the market to know what any given set or souvenir sheet is selling for. Quality remains paramount. Always buy stamps without damage or flaws with the best centering you can find in mint, never-hinged condition.

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