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P.A. Brown's avatar

What a great piece - thank you - the Sand Dunes were a staple of the day back when I started collecting in the 1970s. Avoid them, but they were definitely eye catching. Funny how the former protecting power, Great Britain, now pumps out gobs of issues that are eye catching and with no postal need. Same for most legit postal administrations. What goes around comes around, as you astutely observed, and that's fine. There's no real right or wrong way to collect. Whatever makes you happy.

Jim Forte's avatar

Here is coda to the Trucial States story.

All the Trucial States ceased stamp production from late 1972 through 1973. After the Yom Kippur War in October 1973, the price of oil went from $3.00 a barrel to $10.00 a barrel. There was no longer any financial incentive to produce stamps.

A few years later, a philatelic entrepreneur named Marc Rousso came across the leftovers from this period at a Swiss security printer. Apparently, he made a deal to acquire all of these at a price, I assume, related to the price of waste paper.

He used the Minkus Trucial States Stamp Catalog to evaluate all these stamps. His biography claims "he bartered $45 million (catalog value) ". I assume these were the leftover Trucial States from the printers.

The story is that he used the $45 million as collateral for a loan. The loan was supposedly never repaid.

Big chunks of these stamps are still around.

I was offered a bundle about 7 or 8 years ago

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