In May, we picked up the latest Scott catalogue in Montreal at a cost of $105. This was the first time the cost had exceeded $100. We still don't understand why the company cannot make the catalogue available "by country" at a much cheaper cost to collectors. They did it once in the past but then seem to have retreated from the idea.

To our surprise, there were quite a few increases and only a few decreases. Scott cited in particular, the increase for Scott 1 which climbed from $30,000 to $35,000. Scott 3, which advanced from $125,000 to $160,000 last year, moved up a further $15,000 to $175,000 in the latest catalogue.

Of great interest to us was Scott’s announcement that "Collectors of modern Canada will be pleased to see the addition of 30 new errors. The first is the 1973 Jeanne Mance stamp printed on the gum side, which is Scott 615a. The most recent is the 2009 Montreal Canadiens souvenir sheet with all die cutting omitted, Scott 2340d. A listing of these is attached to our Commentary. We present below some of the highlights:

Early Canada (Scott 1 – 20)
This is the area where the most significant changes took place.

Scott 1	Scott 2
2013 $35,000	2013 $40,000
2012 $30,000	2012 $35,000

Scott 3

2013 $175,000

2012 $160,000

Scott 13

2013 $20,000

2012 $17,500

Large Queens (Scott 21 - 33)

This set had quite a few price increases. See Scott 22b, 25, 25b, 26, 27, 27c, 27f and 28a

Scott 27	Scott 28a
2013 $2,250	2013 $4,500
2012 $2,000	2012 $4,000

Small Queens (Scott 34 - 47)

This set also had a number of price increases. See Scott 35, 36, 37b and 37e. Note that these are all varieties, not the regular stamps.

Scott 37b

2013 $1,750

2012 $1,500

Jubilees (Scott 50 – 65) - No increases

Maple Leafs (Scott 66 - 73)

Only one increase.

Scott 72

2013 $750

2012 $625

Numerals (Scott 74 – 88)

Increases were found in Scott 77, 77a, 82 and 83.

Scott 77	Scott 82
2013 $80	2013 $700
2012 $70	2012 $600

Edward VII (Scott 89 – 95) - No changes in this set.

Quebec Tecentenary (Scott 96 - 103) - Only Scott 96 and 97 advanced.

Scott 96	Scott 97
2013 $18	2013 $62
2012 $15	2012 $55

Admirals (Scott 104 – 134)

Increases were found in Scott 104, 106, 106c, 108, 111 and 112.

Scott 108	Scott 111
2013 $50	2013 $375
2012 $37	2012 $320

Scroll, Arch, Pictorial and War Sets (Scott 149 – 267) - No changes of note

Modern (Scott 268 - 2496)

There were very few changes in the remainder of the catalogue for the modern stamps. We noted increases in Scott 454f, 554b, 586d, 705a, 865a, 1259b, 1693a, 1853b and 2227. Interestingly, a number of these increases were for stamps printed on gum.

Scott 586d	Scott 1693a
2013 $800	2013 $6,500
2012 $600	2012 $6,000

Back of the book

Airmail - no changes other than C9

Special Delivery - only E3 advanced.

Registered stamps - only F3 advanced

Postage Due - no changes

War Tax - prices were up strongly across this set.

Scott E3	Scott F3
2013 $70	2013 $1,500
2012 $60	2012 $1,000

Scott MR3a	Scott MR4a
2013 $625	2013 $1,300
2012 $400	2012 $1,100

Conclusion

Our review of the catalogue is taking place at a time when there is great uncertainty in the world economy and stock markets. One only has to think about the elections in Greece and Egypt, the problems in the euro zone, the fighting in Syria and the political situation in US leading up to the election next November to understand how cautious people must feel. It is in this context that we were surprised at the price increases in the catalogue and we worry about what impact these issues might have on the stamp market as we look to the future.

On the other hand, every year seems to bring its own political and economic uncertainties. Our observation of the market during the past year indicates that the demand for very fine early Canadian stamps is definitely continuing and this is encouraging.

For more details of the price increases and new listings, please click on the following links:

Noticeable prices increases in the 2013 catalogue

New Listings