WWW.SCRIPOFILIA.IT - off the course with honors - from April 10 
http://www.scripofilia.it/ - off the course with honors - from April 10 THE WORLD for stamps is now an established trend: prices and market growth in most rich, is on the side of the offer and from that demand. rare pieces back into circulation and is always more extensive public willing to buy, spending record numbers. but also for coins, medals and antique stocks and bonds now appears favorable. in a spring that promises to be full of events collected in the last 12 months the stamps were a good investment: those area `s Italian, for example, have re-evaluated, based on list prices, by about 17% between` vintage `87` 88 and `88 that` 89. But if the stamp is the queen of collecting, the other genres a little bit less popular, at the numismatic medals, live, for two years now, a period of awakening, a revival of interest from investors, after a sleep more or less long. And interest growing concerns also the scripofilia, the collecting of debt securities, stocks and bonds, public or private, off course, a passion that is established in Italy only a few years. And collecting, whether it be stamps, coins or securities, from `good results in terms of investment over the long term. "Who wants to give an economic assessment of an investment in real terms on stamps` arc 20 25 years may calculate a compound real return of 3, 5% a year, "said Corrado Fiaccavento that, in addition to being secretary general of the ministry programming the budget, is an avid philatelist since childhood. "And it is expected that the trend will continue in the coming months: the moment seems to be particularly favorable, the market growth is sensitive, and very serious, at least three years. There are no huge changes, the application is sound, and at the same time are more and more frequent auctions, awards record. " Despite this, Because, the attitude of those who buy postage stamps should always be more oriented toward collecting more pure, less concerned. "The feeling," adds Fiaccavento, "is that most investors, that is, those who bought parcels of stamps until a revaluation, have become collectors." One is realized, in short, that select purchases, build a real collection, is the best way to make the stamps a good investment. The spring of the stamps. The most sensitive thermometer to test the market fever is represented by bars. The accepted bids are reflected in catalogs and on time so `influence, in terms of trend, the market. The overall sales banned in recent months Italphil of Rome, from Arphil Milan and Genoa by Ghiglione showed an increase in the share prices of lots sold and supported more than ever before. All confirmations of a situation conducive to purchase, in which there was little danger of the failure of the market: the money appears not to be missed and material offered up to now and has been easily absorbed. Leading the recovery of stamp collecting are the stamp of the Kingdom of Italy, which are still far from the appreciation they deserve, and those of the Italian republic. "The trend," warns Fiaccavento, "is growing, especially for stamps of the reign of Vittorio Emanuele III and for those occupations. Next to these is then more interesting field of so-called variety, the pieces that fail and are therefore more rare: their value can grow even in a year of 30 40%. " As for the auction, and is more common today to run into significant sales, which show market rare and valuable, for to fuel demand for collectors and investors. In Rome, May 26, the `Italphil (Piazza Mignanelli 3, tel. 6787617 2006) presents an auction of rarities from around the world. This is only rare and valuable pieces from a collection is important. In addition to stamps and series available for the audience of more extensive collections, the approximately 200 lots in the catalog include rarity of the first magnitude of the philatelic world that offer possibilities not common to those who intend to invest substantial sums in stamps. At the top ranks of the `single sheet known triptychs issued in 1933 at the North Atlantic cruise led by Italo Balbo lack of overprinting. The sheet has a rating that hovers about one billion lire, and the auction will start is probably from a base price of 600 million. If the piece will be 'won, we registered the highest price reached more Italian in the auction, a figure of the order of half a million dollars will go to `fit the most senior levels of the world market. Still airmail provides a piece of great rarity and price correspondingly high, and the Italian espresso overprinted stamp for the Levant with the words airmail service and the value of 15 plates, following the waiver of the service, stamps were destroyed, and there remained only five specimens. L `Italphil sells it` s only existing pair, with a target price of 150 million lire. A piece appropriate to the investment, thanks to the international market that it enjoys, is a wonderful letter stamped with the stamp of 2 pence of the second tranche of the island of Mauritius, offering the basic price of 45 million lire. In the category of international rarity even the cool new quatrain (perhaps only) the stamp of Newfoundland said Miss Columbia, issued during transatlantic flight on September 25, 1930. The basic price set for this piece is 35 million lire. In the field of Italian stamps are offered almost all the most important pieces, starting with the new copies of the stamp from 10 cents in 1862 notched up to the stamp 1. 000 pounds for parcels , Printed on paper with a watermark winged wheel, said currently Cavallino, in block of four units. Also deserve special mention two museum pieces: the horizontal block of 15 copies of the stamp a penny of San Marino, printed in blue, blue penny said, new and in splendid condition, and priced at under 65 million lire, and the stamp of the same value, again, printed in red that pound block of 15 pieces in red, gorgeous, it also offered the price of 65 million lire. A `other major collection is on sale from James Avanzo (Via Carducci 2, Rome, Tel. 06 4457082) or on a fully illustrated color catalog features Scylla and Charybdis, a collection of stamps of the Kingdom of the Two Sicilies. For the unique and the rarity of the first magnitude less rare collection alongside pieces, but all characterized by `high quality. And it is precisely the quality to do, even relatively common stamps, pieces that will always find a buyer. The price range is vast: in addition to stamps and whose base is fixed at 60 000 pounds, there are many with price on request. Since the catalog of songs that have prices of 80, 90, 110, 125 and 175 million pounds, is easy to predict that the awards will all be `more than modest. L `authenticity and the quality of the material offered is firmly guaranteed, and prices are very balanced. As a reference, in fact, the quotes were taken Catalog Sassone following a policy of cautious and very moderate prices, and prices equal to the full listing of the stamps are reserved for exceptional quality. D `On the other hand, the experience of recent international auctions shows that a piece of exceptional beauty can easily exceed many times the catalog prices and estimates of the auctioneers. Firstly, it must then determine the level of expenditure that can (or want) to address. Starting from the base of one million lire, should orient on `buy one or two pieces and not to squander the money in the purchase of the four or five stamps with lower prices. In the catalog of the sale of the collection Scylla and Charybdis advantage of price cuts of between half a million and one million pounds there, and between those of the Kingdom of Naples, and Sicily between the stamps. `But it is necessary to cross the threshold of 5 million pounds to enter the field of the rarity and high-quality pieces that can be symbolized by the Cross, the half tournois stamp issued in Naples at the end of 1860, for provision of Garibaldi. Coins: the value of uncirculated. Also for the coin in May is a month of important appointments. This time the auction is held, however, `in Milan on 3 and 4 May, organized by Montenapoleone auctions of art (via Montenapoleone 19, tel. 2002 76,000,670). During the sale will be 'lost one of the most important collections appeared on the market in recent decades. To realize the commitment of collectors, as well as economic impact, which led to the formation, just remember that it includes some pieces from the collection formed at the end of the last century by the brothers Gnecchi and dispersed to the auction between 1902 and 1903 pieces by more then ever appeared on the market. The `high level of quality is in line with the orientation of the market, which favors the numismatic coins that define high conservation, even at the expense of rare and valuable coins. Storage conditions are less tolerated only for coins of great rarity. L `Investors should therefore consider the quality as the determinant in the choice of currencies to buy. At the end of a good investment, in fact, the problem is to pay less than a coin of low quality, but at the right price to pay for a coin of high quality, which is easily marketable and can be sold at an affordable price in relation to the market situation. L is important therefore is the correct definition of the condition and have been very strict in this the editors of the catalog of the auction Montenapoleone, thus constituting a reliable reference for the potential buyer. The coins from the collection Gnecchi and other medieval and modern coins of exceptional rarity are ideal for the collector-oriented `long-term investment. The more valuable is the currency of 12 the golden shields, weighing 39, 12 grams, coined in Mantua during the reign of Mary Gonzaga (1637 1647) for his son Charles II Gonzaga of Nevers. Money, of extreme rarity, in excellent condition, is one of the most beautiful Italian Baroque and is estimated 35 million pounds. An assessment of 15 million pounds is attributed to the ducats of silver instead of 31, 60 grams coined in 1666 by the Mint of the name of Nicolo `Sabbioneta Ramirez de Guzman, the last Duke of Sabbioneta, and is one of the few remaining documents the Duke. A 14 million pounds stops the estimation of the shield in 1617 coined the name of Alexander Pico, Duke of Mirandola, a coin of great rarity missing in the royal collection of Vittorio Emanuele III. Last in order of evaluation, with an estimated 6 million pounds, is the splendid ducats, in conditions of exceptional preservation, coined in Piacenza for Duke Ottavio Farnese (1556 1586). All coins are of great historical interest with a view to achieving much higher prices to the assessments. A less difficult terrain for the `investor who is not a scholar is represented by decimal coinage, widely represented in the catalog, in particular from the Italian and papal coins. Of the 784 lots in which the collection is divided, consisting of over 260 coins of the Kingdom of Italy, represented virtually complete, including the major rarities. Among coins of great rarity given the 50 pounds of Gold minted in 1864 for Vittorio Emanuele II in only 103 units, valued at 40 million pounds, the 100 pounds of Gold minted in 1880 to just 145 copies in Umberto I and estimated 18 million lire, and other pieces in limited mintage. Missing, probably due to a choice of the collector, numismatic coins for those made minted in a limited number of copies to Vittorio Emanuele III. Along with pieces of exceptional rarity, are offered valuable coins but also affordable to investors who wish to limit the amount to be devoted to the numismatic investment, this does not mean that, apart from the great rarity, the coins appraised by 10 millions of pounds up, there are no coins high price. Those of the Kingdom of Italy is more popular not because of prices, but because `for their historical value and interest to a large number of numismatic collectors are therefore an important market which makes them suitable to the investment. The coins will be offered by almost all Montenapoleone auctions are characterized by excellent quality. In the language of the numismatic quality is expressed by indicating the state of conservation as uncirculated, the more high-grade, or as beautiful, the next lower degree of conservation. In splendid condition and uncirculated coins are most of the Kingdom of Italy. Users: From the Renaissance to the present. Close relatives, from a technical standpoint, the coins, medals, however, are designed to use very different. Less popular collection of other objects, medals, however, have their devotees and their market. The order of a collection of medals is based primarily on chronology and periodization of art. The first group includes the Italian Renaissance medals. Are those more artistically valuable, and are indeed treated as real objects of art. Other groups are formed of baroque Italian and foreign medals, the medals of the eighteenth century, the Napoleonic medals, almost all neoclassical style of papal medals considered in their succession of medals of the last century (often flat academic inspiration even if accurate execution ) and contemporary medals, which may be collected by artist or school. The only to be properly listed and quoted on the Italian works are the papal medals; to them is a chapter in the catalog of coins, published by Italian contemporary Eupremio Montenegro and to Gino Cermentini. The market is very fragmented and medals, by period, by author, by the production process (melting or mint), for metal, by type, and not easy to define the trend '. In general you can say that the interest for these small and often valuable art objects is left growing in direct relation with the greater availability of economic result, and therefore the assertion of taste to have pleasant objects, intended to beautify the home or to be shown to friends. To navigate in this complex area should follow the numismatic auction catalogs, which often are also offered in the medals, and make contact with artists working in the field. You can also turn to `AIAM, Italian Association of Friends of the coin (because of Matte 2, Rome), or manufacturers as the company Stefano Johnson in Milan (Piazza Sant` Angelo 1), which specializes in artistic medals and publisher of the journal Medal , or the Mint, in Rome (Via Principe Umberto 4). Stocks, bonds and government securities out of circulation. For scripofilia, which is developed as a form of collecting only in recent years, as the reference are the foreign markets. The development has been rapid, and the course of prices reflects the growth in demand. Equities and government debt that just a few years ago prices were modest prices are now very respectable. To raise awareness and spread in Italy and this form of collection has been Witula Alex (via Malvasia 1, Bologna, Tel. 051 520 992). Founder of the company's wallet Town, Witula public catalogs offers well-illustrated and informative, and gave scripofilia structure, organizing exhibitions, publishing books is fundamental to the collector, as old stocks and bonds, an essential guide , Now already in its second edition. To navigate on the on going of the old Italian market securities is useful to obtain the two editions of the Shares and the collection of catalogs of offerings. A comparison of prices from one year to another `lets you define a possible investment plan in this area, which may provide wide margins to those who act wisely and carefully following the market.
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