He believed he was speaking privately to a prospective investor and has claimed that he did not say everything that was eventually reported.

So it's tempting to ask why any prospective investor should even think about dipping their toes into a sector that critics argue has been in structural decline for decades.

The prospective investor will also benefit from attending stamp clubs, auctions, philatelic shows and having a relationship with a knowledgeable dealer.

Prospective investors can apply for shares through intermediaries such as brokers and wealth managers.

Better long-run returns from shares and the corrosive effect of high inflation put off generations of prospective investors.