bobstew617
Member
Posts: 376
What I collect: Switzerland, Ireland, Scandinavia, Channel Islands, Hong Kong (British Admin), PNG, others...
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Post by bobstew617 on Aug 9, 2020 13:12:03 GMT
I have completed the review of my ICELAND collection, and it was a meltdown.
Overall, the value of my Icelandic collection fell by 7.95% (ouch)
A few examples of decreases:
Scott 206, the 40a Geyser (1939) slid from $17.00 MNH, $32.50 used to $14.00 MNH, $27.50 used
Scott 677, the 500k Dragon (1989) tumbled from $19.00 MNH, $8.50 used to $17.00 MNH, $7.00 used
Scott C3, the Air Mail Gyrfalcon (1930) descends from $30.00 mint hinged, $60.00 MNH, $90.00 used to $25.00 mint hinged, $50.00 MNH, $75.00 used
One notable increase:
Scott 1109a, the Glaciers booklet pane (2007) doubles from $12.50 MNH to $25.00 MNH
(this is not valued used in Scott)
NOTE: I realized as I was writing this analysis, that many in this forum do not use Scott catalogs. Therefore, I added references to stamp’s rate at issue date plus the year of issue.
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vikingeck
Member
Posts: 3,269
What I collect: Samoa, Tobacco theme, Mail in Wartime, anything odd and unusual!
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Post by vikingeck on Aug 9, 2020 17:08:39 GMT
I wonder is this a consequence of their decision to stop producing stamps altogether?
They already had a big crash after a banking scandal when the country went bust around 1981 and some earlier stamps were invalidated and currency was revalued at 100:1 new Kr , catalogue prices took a hit at that time .
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bobstew617
Member
Posts: 376
What I collect: Switzerland, Ireland, Scandinavia, Channel Islands, Hong Kong (British Admin), PNG, others...
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Post by bobstew617 on Aug 9, 2020 18:54:59 GMT
I have wondered this as well, but I do note that the downgrading of Scott values between 2017 and 2021 was the first one at least since the 2008 catalogs, when I began keeping records of value changes.
I believe it is actually much more related to an overall softening of the market. I will look at this question as I review other countries, most especially Scandinavia.
Maybe Scott is just now coming to grips with the devaluation of Icelandic currency. I will also note that Iceland is unique so far in that many of the "classic" period stamps went down in value. It was also interesting that the stamps from 2006 onward went up in value.
Bob
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