{"id":25680,"date":"2020-04-21T14:50:15","date_gmt":"2020-04-21T12:50:15","guid":{"rendered":"https:\/\/www.davidfeldman.com\/?p=25680"},"modified":"2024-03-20T02:03:22","modified_gmt":"2024-03-20T00:03:22","slug":"its-a-bull-market-for-romania","status":"publish","type":"post","link":"https:\/\/www.davidfeldman.com\/it\/2020\/04\/its-a-bull-market-for-romania\/","title":{"rendered":"It&#8217;s a &#8220;Bull Market&#8221; for Romania"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;3.27.4&#8243; custom_padding=&#8221;0px|||||&#8221; fb_built=&#8221;1&#8243; _i=&#8221;0&#8243; _address=&#8221;0&#8243;][et_pb_row column_structure=&#8221;2_3,1_3&#8243; _builder_version=&#8221;3.27.4&#8243; min_height=&#8221;213px&#8221; custom_margin=&#8221;|auto|-75px|auto||&#8221; custom_padding=&#8221;||0px|||&#8221; _i=&#8221;0&#8243; _address=&#8221;0.0&#8243;][et_pb_column type=&#8221;2_3&#8243; _builder_version=&#8221;3.27.4&#8243; _i=&#8221;0&#8243; _address=&#8221;0.0.0&#8243;][et_pb_text _builder_version=&#8221;3.27.4&#8243; _i=&#8221;0&#8243; _address=&#8221;0.0.0.0&#8243;]<\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The Moldavian Bull\u2019s Head stamps are renowned in the Philatelic ring for their rarity. And like their namesake these \u2018bulls\u2019, or more accurately \u2018Wisent\u2019 which is a European bison, are pretty unsophisticated in form and appearance. Their engraving, and engraver it would appear, as well as the printing process, seem to have originated from a primitive breed of stamps.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">These stamps don\u2019t win any beauty contests, and the engineers among us probably wince at their apparent production. However, as you\u2019re about to discover they have had an aggressive influence on the stamp financial market, and unsurprisingly could be destructive if let loose in a philatelic emporium. Suffice to say, no need for any red rags when smashing World records.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In brief, these stamps were the first Romanian postage adhesives, comprising three separate issues, and initially printed in 1858 with a circular design around the bull&#8217;s head above a post-horn with four different values; 27, 54, 81 and 108 Parale (fig.1). <\/span><\/p>\n<p>[\/et_pb_text][\/et_pb_column][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;3.27.4&#8243; _i=&#8221;1&#8243; _address=&#8221;0.0.1&#8243;][et_pb_image src=&#8221;https:\/\/www.davidfeldman.com\/wp-content\/uploads\/2020\/04\/Romania-1858-81-Parale-Bulls-Head-unused.jpg&#8221; url=&#8221;https:\/\/www.davidfeldman.com\/dfsa-auctions\/2019-december-auctions\/all-world-dec-2019\/41199\/1858-moldavian-bulls-21-july-handstruck-at-jassy-o\/?soff_session_keywords=41199&#038;soff_session_page=1&#038;soff_auction_browse=1&#8243; url_new_window=&#8221;on&#8221; _builder_version=&#8221;3.27.4&#8243; _i=&#8221;0&#8243; _address=&#8221;0.0.1.0&#8243;][\/et_pb_image][et_pb_text _builder_version=&#8221;3.27.4&#8243; _i=&#8221;1&#8243; _address=&#8221;0.0.1.1&#8243;]<\/p>\n<p><em>Fig.1: <a href=\"https:\/\/www.davidfeldman.com\/dfsa-auctions\/2019-december-auctions\/all-world-dec-2019\/41199\/1858-moldavian-bulls-21-july-handstruck-at-jassy-o\/?soff_session_keywords=41199&amp;soff_session_page=1&amp;soff_auction_browse=1\" target=\"_blank\" rel=\"noopener noreferrer\">Lot 41199<\/a> from our December 2019 auction series, an unused 1858 81 Parale, bright blue on blue wove paper, ex Ferrary, sold for \u20ac42&#8217;700<\/em><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=&#8221;2_5,3_5&#8243; _builder_version=&#8221;3.27.4&#8243; custom_margin=&#8221;auto|auto||auto|false|false&#8221; custom_padding=&#8221;0px|||||&#8221; _i=&#8221;1&#8243; _address=&#8221;0.1&#8243;][et_pb_column type=&#8221;2_5&#8243; _builder_version=&#8221;3.27.4&#8243; _i=&#8221;0&#8243; _address=&#8221;0.1.0&#8243;][et_pb_image src=&#8221;https:\/\/www.davidfeldman.com\/wp-content\/uploads\/2020\/04\/Moldavia-1858-61-5-parale-type-I-unused.jpg&#8221; url=&#8221;https:\/\/www.davidfeldman.com\/dfsa-auctions\/june-2019-summer-auction-series\/romania\/20140\/1858-1nov-1861-moldavia-handstruck-at-jassy-imperf\/?soff_session_keywords=20140&#038;soff_session_page=1&#038;soff_auction_browse=1&#8243; url_new_window=&#8221;on&#8221; _builder_version=&#8221;3.27.4&#8243; custom_margin=&#8221;18px|||||&#8221; _i=&#8221;0&#8243; _address=&#8221;0.1.0.0&#8243;][\/et_pb_image][et_pb_text _builder_version=&#8221;3.27.4&#8243; _i=&#8221;1&#8243; _address=&#8221;0.1.0.1&#8243;]<\/p>\n<p><em>Fig.2: <a href=\"https:\/\/www.davidfeldman.com\/dfsa-auctions\/june-2019-summer-auction-series\/romania\/20140\/1858-1nov-1861-moldavia-handstruck-at-jassy-imperf\/?soff_session_keywords=20140&amp;soff_session_page=1&amp;soff_auction_browse=1\" target=\"_blank\" rel=\"noopener noreferrer\">Lot 20140<\/a> in our June 2019 auction series, an unused 1858-61 second issue 5 Parale type I on white paper, unused with yellowish original gum, one of only seven unused known, sold for \u20ac18&#8217;300<\/em><\/p>\n<p>[\/et_pb_text][\/et_pb_column][et_pb_column type=&#8221;3_5&#8243; _builder_version=&#8221;3.27.4&#8243; _i=&#8221;1&#8243; _address=&#8221;0.1.1&#8243;][et_pb_text _builder_version=&#8221;3.27.4&#8243; custom_padding=&#8221;20px|||||&#8221; _i=&#8221;0&#8243; _address=&#8221;0.1.1.0&#8243;]<\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The second issue was released between 1858 and 1862, this time in three values; 5, 40 and 80 Parale. Before the third issue was printed between 1862 to 1864, again in three fresh values of; 3, 6 and 30 Parale. The latter two issues had the head and horn surrounded by a \u2018rectangle\u2019 with rounded corners, rather than a circle.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\"><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Like all philatelic rarities, there is more to it than what\u2019s summarized above, but this is sufficient for us to take a seat and witness a remarkable demonstration of philatelic muscle.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">So, to recap there are 10 values in total, all with a Bull\u2019s Head, all ungainly in appearance, all economically produced, and all rare. A few extremely rare, with certain values from the first issue having single digit survival rates, and as such have attracted much philatelic attention over the years, some changing hands for tens of thousands of Euros. <\/span><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;3.27.4&#8243; _i=&#8221;2&#8243; _address=&#8221;0.2&#8243;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;3.27.4&#8243; _i=&#8221;0&#8243; _address=&#8221;0.2.0&#8243;][et_pb_text _builder_version=&#8221;3.27.4&#8243; _i=&#8221;0&#8243; _address=&#8221;0.2.0.0&#8243;]<\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">That was until more recently when the now most famous of all these &#8216;Bull\u2019s Head&#8217; stamps, the 5 Parale \u2018Porto Gazetei\u2019, came charging into the International Auctioneers\u2019 arena and quite literally \u2018gored\u2019 all previous contenders.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Because in 2006, an 1858 edition of <em>Zimbrul \u015fi Vulturul<\/em>, which was a 19th-century Romanian newspaper aptly named \u2018The Wisent and the Eagle\u2019, and crucially franked with an unprecedented eight 5 Parale type I stamps from the second issue on bluish paper, became the most expensive item of Romanian philately ever sold at auction. Now immortalized as \u2018The Large Journal\u2019, it sold for (just over) a staggering US$1\u2019000\u2019000. What they in the financial realm would most definitely call a \u201cBull\u2019s Market\u201d!\u00a0<\/span><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;3.27.4&#8243; _i=&#8221;3&#8243; _address=&#8221;0.3&#8243;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;3.27.4&#8243; _i=&#8221;0&#8243; _address=&#8221;0.3.0&#8243;][et_pb_image src=&#8221;https:\/\/www.davidfeldman.com\/wp-content\/uploads\/2017\/03\/008-1024&#215;445.jpg&#8221; _builder_version=&#8221;3.27.4&#8243; custom_margin=&#8221;-7px|||||&#8221; _i=&#8221;0&#8243; _address=&#8221;0.3.0.0&#8243;][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;3.27.4&#8243; custom_padding=&#8221;4px|||||&#8221; _i=&#8221;4&#8243; _address=&#8221;0.4&#8243;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;3.27.4&#8243; _i=&#8221;0&#8243; _address=&#8221;0.4.0&#8243;][et_pb_text _builder_version=&#8221;3.27.4&#8243; _i=&#8221;0&#8243; _address=&#8221;0.4.0.0&#8243;]<\/p>\n<p style=\"text-align: justify;\">First recorded in Vienna in 1896, the &#8216;Large Journal&#8217; eventually passed into the Schwarz collection, and was sold by K\u00f6hler in 1928 for an astonishing 56&#8217;000 RM (against an estimate of 10&#8217;000 RM). Maurice Burrus, the Swiss tycoon who assembled a phenomenal collection of world classics, owned it for several decades. It was sold at the Balasse auction of his collection in 1962 to Tomasini, thence to K\u00fcnzi until its sale in 2006.<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;3.27.4&#8243; custom_padding=&#8221;0px|||||&#8221; _i=&#8221;5&#8243; _address=&#8221;0.5&#8243;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;3.27.4&#8243; _i=&#8221;0&#8243; _address=&#8221;0.5.0&#8243;][et_pb_text _builder_version=&#8221;3.27.4&#8243; custom_margin=&#8221;-3px|||||&#8221; _i=&#8221;0&#8243; _address=&#8221;0.5.0.0&#8243;]<\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">This just goes to show that appearances can be misleading. In this age when attractiveness and technical prowess are esteemed highly, our Moldavian Bull\u2019s Head stamps are a sturdy reminder that sometimes it doesn\u2019t matter how sophisticated you might be, you just need a bit of primeval brute breeding. A very rare characteristic indeed!\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">If you want to get under the skin of these Bull\u2019s, then we have plenty of background detail and technical data available for you to digest at your leisure in an article we prepared earlier called <a href=\"www.davidfeldman.com\/2011\/05\/classic-romania\/\">\u201cClassic Romania\u201d<\/a>.<\/span><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Moldavian Bull\u2019s Head stamps are renowned in the Philatelic ring for their rarity. And like their namesake these \u2018bulls\u2019, or more accurately \u2018Wisent\u2019 which is a European bison, are pretty unsophisticated in form and appearance. Their engraving, and engraver it would appear, as well as the printing process, seem to have originated from a [&hellip;]<\/p>\n","protected":false},"author":31,"featured_media":25835,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[627,624],"tags":[116,57,115],"class_list":["post-25680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-auction-highlights","category-digest_articles","tag-bulls-heads","tag-rare-stamps","tag-romania-2"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>It&#039;s a &quot;Bull Market&quot; for Romania - David Feldman SA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.davidfeldman.com\/it\/2020\/04\/its-a-bull-market-for-romania\/\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.davidfeldman.com\\\/it\\\/2020\\\/04\\\/its-a-bull-market-for-romania\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.davidfeldman.com\\\/it\\\/2020\\\/04\\\/its-a-bull-market-for-romania\\\/\"},\"author\":{\"name\":\"Devlan Kruck\",\"@id\":\"https:\\\/\\\/www.davidfeldman.com\\\/it\\\/#\\\/schema\\\/person\\\/9610c96836abc1e8bb839d160761e998\"},\"headline\":\"It&#8217;s a &#8220;Bull Market&#8221; 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