Stamp-collecting, once exclusively the hobby of small boys and an all-consuming passion for the older enthusiast has now become the target of financial speculators. Stamps are both portable and negotiable anywhere and have thus attracted investors with no knowledge of the subject. However, many of these people have burned their fingers as all forms of investment require specialized knowledge. There are many cautionary tales. The Post Office issued three stamps to commemorate the 1966 World Cup held in England. When England won the Cup, the four penny value was overprinted with the words "England Winners". The speculators moved in, the stamp being sold out on the day of issue and soon changing hands at up to sixty times its face value. When profit-taking started, the price dropped sharply and now the stamps are easily obtainable at a price which will not make a hole in any schoolboy's pocket. However, interesting stamps---particularly stamps from the nineteenth century in good condition----will always be a sound investment. The condition of most childhood collections means that they will seldom fetch very much. Rare stamp can only increase in value over the years. Surprisingly the first stamp ever issued, the British 1840 Penny Black, is not that much of a rarity and will never have the value of, say, the Mauritius One Penny of 1859. Such rarities are beyond the means of most stamp-collectors, who content themselves with the collection of stamps from a particular country or countries, or of stamps on a particular theme: music, sport, flowers and so on. This specialization is necessitated by the vast number of stamps issued every year. In the old days, though, a rich collector might have been able to own almost every stamp ever issued. For most people, then, stamp-collecting is a satisfying and absorbing hobby, not a form of investment.