A close runner-up for world's first stamps to depict an oil field
are these two examples from a 1923 eight-stamp set from the
Transcaucasian Federated Republics (Armenia, Georgia
and Azerbaijan). Both designs show oil field in the
Caucasus Mountains. Although the denominations
of these stamps ranged from 40,000 to half a
million Rubles, rampant inflation led to the
surcahrging of two of the stamps to
700,000-Rubles (below).

© Peter A. Scholle, 2000

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