Developing a foreign stamp collection can be a wonderful way to survey the dynamic histories and economies of other nations. Universal postal stamps have only been around for approximately 165 years. However, during this time, post offices have printed hundreds of billions of stamps, and you can discover as many as 400,000 different varieties. Thus, it's important to ''pick your battles'' in the hunt for foreign stamps.

You may want to restrict your quest to one continent or one time period. Conversely, you could try to optimize your stamp collection's diversity. Over 200 countries worldwide produce stamps, so it can be quite a puzzle to complete the World Set. Amazing foreign stamps abound. In 1973, the tiny Asian nation of Bhutan, which is situated remotely in the Himalayan Mountains, released a stamp that doubled as a record.

Australia's first two-pound stamps, which feature a map and a kangaroo, are worth around $3,000 in mint condition. Australia's neighbor, the island nation of Tonga, produced a stamp shaped like a local fruit. Cold War-era stamps from former Soviet republics fetch a lot of money at auction, given that competition for Communist Era relics remains fierce among collectors.

A young boy discovered a stamp in British Guinea that was the only one of its kind ever made. This stamp today is worth several million dollars. You might set your eyes on the grand prize--the Penny Black, the first universal penny stamp ever pressed into service. Mint Penny Blacks can be purchased for around $2,000, and you can get used Penny Blacks for as little as a few hundred dollars.