CORONATION STAMPS

Waikato Times, Volume 121, Issue 20334, 26 October 1937, Page 7

CORONATION STAMPS

allegations of frauds SCOTLAND YARD INVESTIGATING COLLECTORS LOSE £IO,OOO United Press Assn.—Elec. Tel. Copyright. LONDON. Oct. 25 Scotland Yard and the colonial postal authorities are investigating allegations of frauds which are said to bo continuing in connection with the sale of Coronation stamps. One philatelio Journal offers £IOO reward for Information leading to the discovery of the perpetrator. It is stated that British collectors have already lost £IO,OOO. In spite of elaborate efforts of English and foreign dealers to secure a plentiful supply of envelopes bearing the new stamps on the first day of their issue from every British colony, a breakdown occurred in several colonies where' it was impossible for postmasters to cope with the demand.

For instance, in the Gilbert and Ellice Islands, only 1200 envelopes were stamped, although 15.000 were ordered. There was a similar state of affairs in the British Solomon Islands, Nyasaland, Ascension and St. Helena. As a result, the price of first-day covers soared to over 50 times the face value.

It is alleged that “fakers” forged the postmarks and put a large number of bogus specimens on the market.