This might be of interest to some collectors..do not assume that because only a few stamps were printed they are valuable..some of the higher values in Guatemala sets like C90 and C91 had a total printing of Three Thousand stamps...yet they are available..i have them and see them in the APS circuit books for 5 or 6 dollars apiece..with certain countries the better stamps are in the hands of dealers..not so with Guatemala...i am not one of them..but in the Guatemala society there are perhaps a few dozen SERIOUS collectors of the country..and what they do not have..is not worth having !!
Yes, Phil, it's not just a matter of supply -- demand has to come into play. Popularity is all important, so stamps from some areas of the world will always do better than others no matter what the relative print run might be, so long as their popularity is sustained.
You're right, of course. Another aspect is the number of stamps actually put into circulation. I've read of some large printings where most of the stamps ended up being destroyed or postally used. Both things can drive up the price of mint copies even with a large printing.
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