Shrewd business men are those who frequently invest large sums in
stamps. The amounts spent annually by some wealthy collectors range
from £1,000 to £10,000. One well-known Parisian collector, whose life
has been largely devoted to his philatelic treasures, and who employs
two secretaries to look after his collection, has, it is estimated,
spent at least £200,000 on his stamps since 1870.

If investment were the Alpha and Omega of stamp collecting, every
collector of standing would bemoan lost opportunities. Many a great
rarity of to-day could have been had for a few shillings a few years
ago. The Cape errors were sold by Stanley Gibbons at 2s. 6d. each. The
"Transvral" error was sold by the same generous firm at 4s., and
others in similar proportion in the day of opportunity.

To-day it is the fashion to look back with regret on those lost
opportunities, and to nurse the belief that such opportunities are
never likely to return. But experience shows that in every decade of
stamp collecting the common stamp of to-day may be the rarity of
to-morrow. In many a series of stamps some one of the lot from some
cause or another gets scarce, and the price appreciates from year to
year till the original price paid for the stamp in pence is
represented by pounds.




[Illustration]

XIV.