Tuesday, November 22, 2011

Ghana Gandhi Stamps - Does value of Gandhi FDC makes sense.!!

Hello Gandhi Collectors,

Ghana is a country located in West Africa. It is bordered by Côte d'Ivoire (Ivory Coast) to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south.

The Gold Coast achieved independence from the United Kingdom in 1957 and the name Ghana was chosen for the new nation to reflect the ancient Empire of Ghana, which once extended throughout much of west Africa.

On December 24, 1998 Ghana issued 4 stamps(each 2000 Ghana Cedi) Miniature sheet  of Mahatma Gandhi with pictures of his famous Dandi March (Salt Satyagraha) and various age portrait. Also this sheet has quotes of Mahatma Gandhi.  (Not sure why they issued in  December instead of October 2nd !!). Also Ghana  issued another Miniature sheet of Mahatma Gandhi value 5500 Ghana Cedi. 

So total 5 stamps (2 Miniature sheet) were  issued in 1998 by Ghana.

In September 2011, FDC of this Miniature sheet was sold for only $1.29.!! 

Seller : stamp_bay (USA)
Buyer : adityamootha (India)
Date : Sep 3, 2011
Price Sold :- $ 1.29 (less than a $2!!)

To me all 1998 Gandhi FDC from African and South American countries looks like questionable (more than 10-15 countires.!!!!)

It's surprising to see this kind of price for Gandhi Philatelic material.

I am not sure how much catalog value of this FDC but I think $1.29 is under stamp catalog value.!!

But I am sure it is selling under face value, as in 1998 $1=2300C. So above miniature sheet, in 1998 was somewhere between $4-5 when it was sold in Ghana.!!

What a decline.!!

 The Ghana cedi was introduced on 3 July 2007 and is equal to 10,000 old cedis. It was the highest-valued currency unit issued by sovereign countries in Africa in 2007

1 US Dollar = 1.62689 Ghanaian New Cedi   (16000 Old Cedi)

Following is another miniature sheet. Not sure about current pricing but I will update in future.

So looking to all this, it seems to me that Gandhi Stamps are not for investment as $4 invested in 1998 is currently getting only $1.!! which is 300% decline in value.


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