Sure. If you search here for dead countries or One From Every Country you'll likely find lots of results. There are different definitions of what qualifies, but yes.
You may want to define your targets a bit closer. Does the stamp issuing entity count 1) if its name changed [Zaire]; 2) does it count if it was split into other parts [Czechoslavakia]; 3) does it count if consolidated as an integral part of a successor entity [Nova Scotia]; 4) does it count if disappears and then reappers [Poland, Serbiaa]; and in the near future, 5) does it count if it no longer issue postage stamps [??].
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