Stamp Market Tips by Henry Gitner and Rick Miller
The South Korean economy is one of the strongest in the world. Although menaced by its totalitarian neighbor to the north, this nation of about 52 million with a mixed economic system boasts the fourth largest GDP (gross domestic product) in Asia and the 12th largest in the world.
Because of our long and strong military alliance with South Korea and the United States Armed Forces members who have served there, Korean stamps are quite popular with many American collectors.
On Aug. 5, 1948, Korea issued a 5-won President Syngman Rhee stamp (Scott 90) to commemorate his inauguration as South Korea’s first president. The 2020 Scott Standard Postage Stamp Catalogue values the stamp at $260 in unused hinged condition and $450 in mint never-hinged condition.
The stamp is currently selling for more than Scott catalog value in unused hinged condition and is a good buy at around $300. Examples in mint never-hinged condition are selling in the $350 to $400 price range.
The market for Korean stamps is inconsistent. The market for classic post-World War II stamps is strong for stamps in unused hinged condition and mint never-hinged condition, especially in blocks of four. Prices for stamps from other periods are all over the map, from about one-third of Scott catalog value up to more than catalog value.
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