HANDBOOK
DeAFT
SECTION D
Philately, Numismatics, & Notaphily
The chapters in this section deal with revenue which may truly be regarded as "painless" since it puts no burden on a count- ry's poor, does not discourage economic development, and may even have the beneficial side effect of helping tourism in the country by "putting it on the map" at least as far as those who collect or study stamps, coins, and notes are concerned.
The
Obviously the proportional significance of the revenue to be gained is greater for small countries than large. actual revenue-producing potential depends largely on the energy, resourcefulness, and competence, of one or more individuals, and the making of rapid policy decisions when required by the appropriate authority.
Apart from providing revenue, the three" hobbies" may also generate a modest amount of employment as the country concerned develops this sector and takes over various functions in conn- ection with the packaging and preparing materials for collectors some of which functions may initially be contracted out to spec- ialists and promoting, not least by mail order, local sales to supplement bulk sales to agents abroad.
A "respectable" image is desirable for a country making commemorative issues, which means, inter alia, that events and people commemorated should be of general interest abroad as well as having some relevance to the country itself, and should not In addition, issues should cause offence to other countries.
not be so frequent, or in such bulk, as to "flood the market".
A general rule is that a commemorative issue should be mainly sold within the first 3 months and completely disposed of within a year of issue. There are exceptions which will
In general, however, if be referred to later in the text. demand for an issue is almost, but not completely met, the issue
Collectors will immediately be marked up at a premium by dealers.
will find their specimens have, at least on paper, appreciated soon after acquisition and thus tend to be eager to take up the next issue. Accordingly it is a good general principle slightly to under-order supplies than to order too optimistically.
Professional management (e.g., from the Royal Mint and Crown Agents or a commercial firm) of an issue may be enlisted to ensure its success. A smaller share of the (profit) cake will be obtained by the issuing country, but the cake itself should be a good deal larger and the net result more favourable. In due course, however, a country should aim to take over more and more of the functions performed for it and should always retain the right to veto designs.
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