5630 Dunbar St. at 41st Ave.
604-684-4613

Newsletter #258, August 12, 2015

Canada Post Recalls UNESCO Stamps

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Canada Post recalled some of their 3 July 2015 issued UNESCO booklets, souvenir sheets, and first day covers after learning that the image of the hoodoos on the $1.20 Dinosaur Park, Alberta commemorative showed a rock formation in Drumheller, Alberta instead.  News of the recall appeared in media outlets before Canada Post recovered the incorrect stamps from all of their 6,000 postal centers, allowing time for savvy news consumers to acquire quantities of the recalled stamps for resale in a speculative market in internet auctions.  

The first day cover is the scarcest of the recalled items released to post offices.  Only 11,000 were produced and many of these were likely never distributed to postal outlets. Properly used $1.20 Dinosaur Park covers paying the basic rate to the United States, or 50-99 gram rate in Canada, will likely be scarce.  Because many postal outlets are privately operated, and news of the recall was sent by email from Canada Post, the recalled stamps can still be found in some postal outlets.

Stamp recalls are normally the stuff of urban legend.  Canada Post previously issued modern stamps with design errors, including a $2 world Map missing a continent, an Air Canada Jet with no engines, a French language misspelling of Faune, and a backwards image of a Lighthouse, without recalls.  The Lighthouse mistake was reissued with a corrected image.  Canada Post intends to reissue the UNESCO stamps with a corrected image as well   Production problems with the 38c Regiments issue meant plate blocks, and first day covers with them, are scarce.  Prices of Canada Post booklets and souvenir sheets showing the Drumheller hoodoos have been upwards of three times the face value online.  Pretty good profit for the sellers.  The first day covers appear to be trading in smaller quantities at between $100 and $300.  Outstanding return for the sellers.  Will the recalled Canada Post UNESCO issues continue to trade at multiples of their issue prices?  Only time will tell.

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