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Year of the Ox stamps aim to make bull run
By Dong Hui and Chen Qian |
January 6, 2009, Tuesday
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Print Edition
Print Edition
WHILE many stock investors are worried they may not see a bull market this year, stamp collectors may be getting their licks in with better returns.
Commemorative Year of the Ox stamps went on sale across China yesterday, and the total amount was only about half that of the stamps issued for the present Year of the Mouse.
Wu Caihong, general manager of the Shanghai Philatelic Co, said 80,000 sets of stamps are being retailed at 78 post offices around the city. Though there were no comparative local figures for mouse stamps, nationwide numbers will definitely be down.
Asked about the cutback in numbers, Wu denied it was related to the international economic downturn.
"The main reason to reduce the retail sale is to inspire the stamp market," Wu said. "Supply outstrips demand in most stamp markets currently."
Scarcity could translate into higher value for collectors who hold onto the stamps for future sale.
In Shanghai, over 400 residents lined up at the Shanghai Post Museum for the zodiac stamps starting early in the morning. The first buyer, an enthusiast named Zhu Liangen, stood in line for about 24 hours.
The stamps depict a charging red ox, the symbol of the lunar year that starts on January 26. They have a face value of 1.2 yuan (18 US cents) and come with a special souvenir certificate.
Some buyers said they bought the ox stamps because they think they might bring some bullish good luck for their stock investments.
"I lost money in stocks last year. I hope this year's stock market is as inspired as the ox on the stamp," said a buyer surnamed Weng.
China Post began issuing stamps based on Chinese zodiac signs in 1980, a Year of the Monkey.
The ox is the second of the 12 animals in the Chinese zodiac and is an emblem of spring and agriculture.
Commemorative Year of the Ox stamps went on sale across China yesterday, and the total amount was only about half that of the stamps issued for the present Year of the Mouse.
Wu Caihong, general manager of the Shanghai Philatelic Co, said 80,000 sets of stamps are being retailed at 78 post offices around the city. Though there were no comparative local figures for mouse stamps, nationwide numbers will definitely be down.
Asked about the cutback in numbers, Wu denied it was related to the international economic downturn.
"The main reason to reduce the retail sale is to inspire the stamp market," Wu said. "Supply outstrips demand in most stamp markets currently."
Scarcity could translate into higher value for collectors who hold onto the stamps for future sale.
In Shanghai, over 400 residents lined up at the Shanghai Post Museum for the zodiac stamps starting early in the morning. The first buyer, an enthusiast named Zhu Liangen, stood in line for about 24 hours.
The stamps depict a charging red ox, the symbol of the lunar year that starts on January 26. They have a face value of 1.2 yuan (18 US cents) and come with a special souvenir certificate.
Some buyers said they bought the ox stamps because they think they might bring some bullish good luck for their stock investments.
"I lost money in stocks last year. I hope this year's stock market is as inspired as the ox on the stamp," said a buyer surnamed Weng.
China Post began issuing stamps based on Chinese zodiac signs in 1980, a Year of the Monkey.
The ox is the second of the 12 animals in the Chinese zodiac and is an emblem of spring and agriculture.
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