New Year stamps hit staggering prices

According to Chinese lunar calendar, in less than a month we'll be saying goodbye to the year of the dragon and welcoming the year of the snake. But stamp collectors are already scrambling to get their hands on next year's limited edition stamps.

Beginning in 1980, China has been releasing stamps corresponding to the animal being represented that year. It has always been a hit with collectors, especially the dragon, snake, horse and sheep, the last 4 animals to be released as commemorative New Year's stamps. The official price is 54 yuan for this year's stamps, but on the market, it has soared to over 300 yuan.

Experts are advising customers to refrain from paying the high price, which may drop considerably overtime.